Reliance, Inc. (NYSE:RS) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its holdings in Reliance, Inc. (NYSE:RS) by 9.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,072 shares of the industrial products company’s stock after selling 4,570 shares during the period. State of Alaska Department of Revenue’s holdings in Reliance were worth $12,135,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Quarry LP purchased a new position in shares of Reliance in the 3rd quarter valued at $41,000. Versant Capital Management Inc raised its stake in shares of Reliance by 157.8% in the 4th quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 131 shares during the period. UMB Bank n.a. raised its stake in shares of Reliance by 27.0% in the 3rd quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 53 shares during the period. Brooklyn Investment Group purchased a new stake in Reliance during the 3rd quarter worth $78,000. Finally, Abound Wealth Management increased its stake in 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 buying an additional 357 shares during the period. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Insider Transactions at Reliance

In related news, CEO Karla R. Lewis sold 3,892 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $323.90, for a total value of $1,260,618.80. Following the sale, the chief executive officer now directly owns 85,117 shares in the company, valued at $27,569,396.30. The trade was a 4.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.69% of the company’s stock.

Reliance Trading Down 0.5 %

Shares of NYSE:RS opened at $285.08 on Friday. The company has a 50 day moving average of $285.13 and a 200-day moving average of $289.64. The firm has a market cap of $15.43 billion, a P/E ratio of 15.66 and a beta of 0.90. Reliance, Inc. has a twelve month low of $256.98 and a twelve month high of $342.20. The company has a current ratio of 3.31, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12.

Wall Street Analyst Weigh In

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

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.