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

Yousif Capital Management LLC lowered its stake in shares of Reliance, Inc. (NYSE:RS) by 4.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,414 shares of the industrial products company’s stock after selling 935 shares during the quarter. Yousif Capital Management LLC’s holdings in Reliance were worth $5,497,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RS. Toronto Dominion Bank grew its stake in shares of Reliance by 26.7% during the third quarter. Toronto Dominion Bank now owns 8,198 shares of the industrial products company’s stock valued at $2,371,000 after purchasing an additional 1,729 shares during the last quarter. Assetmark Inc. boosted its position in Reliance by 24.2% in the 3rd quarter. Assetmark Inc. now owns 27,916 shares of the industrial products company’s stock valued at $8,074,000 after buying an additional 5,431 shares during the last quarter. Dearborn Partners LLC boosted its position in Reliance by 4.1% in the 3rd quarter. Dearborn Partners LLC now owns 86,406 shares of the industrial products company’s stock valued at $24,989,000 after buying an additional 3,419 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Reliance by 1.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 127,806 shares of the industrial products company’s stock valued at $36,963,000 after buying an additional 1,696 shares during the period. Finally, Pure Financial Advisors LLC raised its position in shares of Reliance by 232.9% during the fourth quarter. Pure Financial Advisors LLC now owns 9,281 shares of the industrial products company’s stock worth $2,499,000 after acquiring an additional 6,493 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Reliance Stock Down 0.5 %

NYSE:RS opened at $285.08 on Friday. Reliance, Inc. has a 1 year low of $256.98 and a 1 year high of $342.20. The stock has a 50-day moving average price of $285.13 and a two-hundred day moving average price of $289.64. The stock has a market cap of $15.43 billion, a price-to-earnings ratio of 15.66 and a beta of 0.91. The company has a current ratio of 3.31, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12.

Analysts Set New Price Targets

A number of analysts recently commented on the company. The Goldman Sachs Group assumed 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. BMO Capital Markets dropped their price target 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. KeyCorp dropped 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. Finally, Wolfe Research upgraded Reliance from an “underperform” rating to a “peer perform” rating in a research 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 company’s stock. According to data from MarketBeat.com, Reliance presently has a consensus rating of “Hold” and a consensus price target of $328.17.

Insider Activity at Reliance

In related news, CEO Karla R. Lewis sold 3,892 shares of the company’s 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 completion of 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 represents a 4.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.69% of the stock is owned by 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.