Reliance, Inc. (NYSE:RS) Shares Bought by Hunter Associates Investment Management LLC

Hunter Associates Investment Management LLC raised its position in shares of Reliance, Inc. (NYSE:RS) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,360 shares of the industrial products company’s stock after acquiring an additional 324 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Reliance were worth $1,989,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its stake in Reliance by 4.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,240 shares of the industrial products company’s stock worth $926,000 after purchasing an additional 134 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Reliance in the second quarter worth approximately $3,073,000. Handelsbanken Fonder AB raised its position in Reliance by 26.5% in the third quarter. Handelsbanken Fonder AB now owns 14,781 shares of the industrial products company’s stock valued at $4,275,000 after purchasing an additional 3,100 shares during the period. GAMMA Investing LLC lifted its stake in shares of Reliance by 19.1% in the 3rd quarter. GAMMA Investing LLC now owns 697 shares of the industrial products company’s stock valued at $202,000 after purchasing an additional 112 shares during the last quarter. Finally, Fulton Bank N.A. grew its holdings in shares of Reliance by 3.1% during the 3rd quarter. Fulton Bank N.A. now owns 1,570 shares of the industrial products company’s stock worth $454,000 after purchasing an additional 47 shares during the period. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

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

Reliance Trading Up 1.4 %

RS opened at $296.67 on Friday. The business has a fifty day moving average price of $288.73 and a 200 day moving average price of $290.33. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 1.58. Reliance, Inc. has a 12 month low of $256.98 and a 12 month high of $342.20. The stock has a market capitalization of $16.06 billion, a price-to-earnings ratio of 16.29 and a beta of 0.91.

Insider Buying and Selling

In related news, CEO Karla R. Lewis sold 3,892 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 85,117 shares of the company’s stock, valued at $27,569,396.30. This trade represents a 4.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP William A. Smith II sold 6,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $321.71, for a total value of $2,091,115.00. Following the completion of the sale, the senior vice president now directly owns 16,849 shares of the company’s stock, valued at $5,420,491.79. The trade was a 27.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,724 shares of company stock worth $5,366,450. Company 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.