New York State Teachers Retirement System Cuts Holdings in Reliance, Inc. (NYSE:RS)

New York State Teachers Retirement System trimmed its holdings in shares of Reliance, Inc. (NYSE:RS) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 56,953 shares of the industrial products company’s stock after selling 1,304 shares during the period. New York State Teachers Retirement System’s holdings in Reliance were worth $15,335,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Compagnie Lombard Odier SCmA boosted its stake in Reliance by 108.0% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 36,364 shares of the industrial products company’s stock valued at $9,791,000 after purchasing an additional 18,880 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in Reliance by 3.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 22,237 shares of the industrial products company’s stock valued at $5,998,000 after purchasing an additional 685 shares during the last quarter. Quent Capital LLC boosted its stake in Reliance by 4.1% during the 4th quarter. Quent Capital LLC now owns 941 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 37 shares during the last quarter. Peterson Wealth Services boosted its stake in Reliance by 6.2% during the 4th quarter. Peterson Wealth Services now owns 3,329 shares of the industrial products company’s stock valued at $896,000 after purchasing an additional 194 shares during the last quarter. Finally, Savant Capital LLC boosted its stake in Reliance by 86.9% during the 4th quarter. Savant Capital LLC now owns 3,581 shares of the industrial products company’s stock valued at $964,000 after purchasing an additional 1,665 shares during the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Reliance news, CEO Karla R. Lewis sold 3,892 shares of the stock in a transaction on Monday, December 2nd. The stock was 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 owns 85,117 shares in the company, valued at approximately $27,569,396.30. This represents a 4.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.69% of the stock is owned by insiders.

Reliance Price Performance

Shares of Reliance stock opened at $297.98 on Monday. Reliance, Inc. has a one year low of $256.98 and a one year high of $342.20. The stock’s fifty day moving average is $282.33 and its 200 day moving average is $288.94. The stock has a market cap of $16.13 billion, a P/E ratio of 16.36 and a beta of 0.91. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.58 and a current ratio of 3.31.

Analysts Set New Price Targets

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

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.