Reliance, Inc. (NYSE:RS) Shares Sold by KBC Group NV

KBC Group NV cut its stake in shares of Reliance, Inc. (NYSE:RS) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 136,537 shares of the industrial products company’s stock after selling 3,123 shares during the quarter. KBC Group NV’s holdings in Reliance were worth $36,764,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in Reliance by 19.7% during the 3rd quarter. Principal Financial Group Inc. now owns 472,730 shares of the industrial products company’s stock worth $136,718,000 after acquiring an additional 77,937 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in Reliance by 7.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 296,033 shares of the industrial products company’s stock valued at $85,616,000 after buying an additional 20,056 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Reliance by 0.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 285,871 shares of the industrial products company’s stock worth $82,677,000 after buying an additional 1,499 shares during the period. Victory Capital Management Inc. raised its position in Reliance by 0.3% during the 3rd quarter. Victory Capital Management Inc. now owns 203,156 shares of the industrial products company’s stock worth $58,755,000 after buying an additional 528 shares during the last quarter. Finally, Copeland Capital Management LLC lifted its stake in Reliance by 0.4% during the 3rd quarter. Copeland Capital Management LLC now owns 195,141 shares of the industrial products company’s stock valued at $56,437,000 after acquiring an additional 714 shares during the period. 79.26% of the stock is owned by hedge funds and other institutional investors.

Reliance Stock Performance

NYSE RS opened at $288.27 on Tuesday. The stock has a market capitalization of $15.60 billion, a price-to-earnings ratio of 15.83 and a beta of 0.91. The stock has a 50-day moving average of $289.86 and a 200 day moving average of $290.30. 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 twelve month low of $256.98 and a twelve month high of $342.20.

Analyst Upgrades and Downgrades

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

Insider Transactions at Reliance

In other Reliance news, CEO Karla R. Lewis sold 3,892 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $323.90, for a total transaction of $1,260,618.80. Following the completion of the sale, the chief executive officer now directly owns 85,117 shares in the company, valued at approximately $27,569,396.30. The trade was a 4.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Arthur Ajemyan sold 6,332 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $318.18, for a total value of $2,014,715.76. Following the transaction, the chief financial officer now directly owns 9,245 shares of the company’s stock, valued at $2,941,574.10. The trade was a 40.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,724 shares of company stock valued at $5,366,450 in the last three months. 0.69% of the stock is currently owned by company insiders.

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.