Reliance, Inc. (NYSE:RS) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its position in Reliance, Inc. (NYSE:RS) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,000 shares of the industrial products company’s stock after selling 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Reliance were worth $4,039,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of RS. Quarry LP purchased a new stake in shares of Reliance in the third quarter valued at about $41,000. Versant Capital Management Inc lifted its position in Reliance by 157.8% in the fourth quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 131 shares during the period. Brooklyn Investment Group purchased a new stake in Reliance in the 3rd quarter valued at approximately $78,000. UMB Bank n.a. grew its holdings in Reliance by 41.8% during the fourth quarter. UMB Bank n.a. now owns 353 shares of the industrial products company’s stock worth $95,000 after acquiring an additional 104 shares during the period. Finally, Abound Wealth Management grew its stake in shares of Reliance by 35,700.0% during the 4th quarter. Abound Wealth Management now owns 358 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 357 shares during the period. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Reliance Price Performance

NYSE:RS opened at $286.93 on Thursday. Reliance, Inc. has a 12-month low of $256.98 and a 12-month high of $342.20. The firm has a market cap of $15.53 billion, a price-to-earnings ratio of 15.76 and a beta of 0.91. The company’s 50-day moving average is $282.78 and its two-hundred day moving average is $289.16. The company has a current ratio of 3.31, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. KeyCorp dropped their target price on shares of Reliance from $325.00 to $321.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Wolfe Research raised Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group began coverage on Reliance in a research report on Monday, December 2nd. They set a “neutral” rating and a $341.00 target price on the stock. Finally, BMO Capital Markets lowered their price target on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Reliance has an average rating of “Hold” and an average price target of $328.17.

Insider Activity at Reliance

In related news, CEO Karla R. Lewis sold 3,892 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $323.90, for a total value of $1,260,618.80. Following the completion of the transaction, the chief executive officer now directly owns 85,117 shares in the company, valued at approximately $27,569,396.30. This represents a 4.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.69% of the company’s stock.

Reliance Company Profile

Reliance, Inc operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.