Reliance, Inc. (NYSE:RS) Stock Position Cut by Core Alternative Capital

Core Alternative Capital lessened its stake in Reliance, Inc. (NYSE:RS) by 31.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 166 shares of the industrial products company’s stock after selling 75 shares during the quarter. Core Alternative Capital’s holdings in Reliance were worth $45,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RS. Quarry LP bought a new position in Reliance in the 3rd quarter valued at about $41,000. Versant Capital Management Inc boosted its position in shares of Reliance by 157.8% during the 4th 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 in the last quarter. UMB Bank n.a. boosted its position in shares of Reliance by 27.0% during the 3rd quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 53 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Reliance during the 3rd quarter valued at about $78,000. Finally, Abound Wealth Management boosted its position 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 valued at $96,000 after purchasing an additional 357 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

Reliance Price Performance

RS stock opened at $291.07 on Tuesday. The company has a current ratio of 3.31, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12. Reliance, Inc. has a one year low of $256.98 and a one year high of $342.20. The firm has a market capitalization of $15.75 billion, a PE ratio of 15.98 and a beta of 0.91. The firm has a 50-day moving average of $283.79 and a two-hundred day moving average of $289.27.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Reliance

In other news, CEO Karla R. Lewis sold 3,892 shares of the 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 completion of the sale, the chief executive officer now directly owns 85,117 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.69% of the company’s stock.

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.