Yousif Capital Management LLC Sells 935 Shares of Reliance, Inc. (NYSE:RS)

Yousif Capital Management LLC reduced its holdings in Reliance, Inc. (NYSE:RS) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,414 shares of the industrial products company’s stock after selling 935 shares during the period. Yousif Capital Management LLC’s holdings in Reliance were worth $5,497,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of Reliance by 19.1% during the 3rd quarter. GAMMA Investing LLC now owns 697 shares of the industrial products company’s stock worth $202,000 after purchasing an additional 112 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Reliance by 27.0% in the third quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock valued at $72,000 after buying an additional 53 shares in the last quarter. Evexia Wealth LLC increased its holdings in Reliance by 1.4% during the third quarter. Evexia Wealth LLC now owns 12,400 shares of the industrial products company’s stock worth $3,530,000 after buying an additional 166 shares during the last quarter. Compagnie Lombard Odier SCmA raised its position in Reliance by 11.6% during the third quarter. Compagnie Lombard Odier SCmA now owns 17,484 shares of the industrial products company’s stock worth $5,057,000 after acquiring an additional 1,823 shares in the last quarter. Finally, Oliver Luxxe Assets LLC lifted its stake in Reliance by 2.2% in the third quarter. Oliver Luxxe Assets LLC now owns 20,174 shares of the industrial products company’s stock valued at $5,834,000 after acquiring an additional 435 shares during the last quarter. 79.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Karla R. Lewis sold 3,892 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $323.90, for a total transaction of $1,260,618.80. Following the transaction, the chief executive officer now directly owns 85,117 shares of the company’s stock, valued at approximately $27,569,396.30. This trade represents a 4.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. BMO Capital Markets lowered their price objective on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Wolfe Research upgraded 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 issued a “neutral” rating and a $341.00 price objective for the company. Finally, KeyCorp decreased their target price on Reliance from $325.00 to $321.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Reliance presently has an average rating of “Hold” and a consensus target price of $328.17.

Reliance Trading Down 0.5 %

Shares of NYSE:RS opened at $285.08 on Friday. Reliance, Inc. has a 12-month low of $256.98 and a 12-month high of $342.20. The business has a 50 day moving average of $285.13 and a 200-day moving average of $289.64. The company has a quick ratio of 1.58, a current ratio of 3.31 and a debt-to-equity ratio of 0.12. The stock has a market cap of $15.43 billion, a PE ratio of 15.66 and a beta of 0.91.

About Reliance

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.