Hunter Associates Investment Management LLC Acquires 324 Shares of Reliance, Inc. (NYSE:RS)

Hunter Associates Investment Management LLC raised its holdings in shares of Reliance, Inc. (NYSE:RS) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,360 shares of the industrial products company’s stock after purchasing 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 filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in RS. Quarry LP bought a new stake in Reliance in the third quarter worth $41,000. Versant Capital Management Inc lifted its holdings in shares of Reliance by 157.8% in the 4th quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 131 shares during the last quarter. UMB Bank n.a. boosted its stake 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 worth $72,000 after purchasing an additional 53 shares during the period. Brooklyn Investment Group bought a new position in Reliance during the 3rd quarter valued at about $78,000. Finally, Abound Wealth Management raised its position in Reliance by 35,700.0% in the 4th quarter. Abound Wealth Management now owns 358 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 357 shares during the period. 79.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RS shares. 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 note on Friday, October 25th. The Goldman Sachs Group began coverage on Reliance in a research report on Monday, December 2nd. They issued a “neutral” rating and a $341.00 price objective on the stock. KeyCorp decreased their target price on Reliance from $325.00 to $321.00 and set an “overweight” rating for the company in a research report on Wednesday, January 22nd. Finally, Wolfe Research upgraded shares of Reliance from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $328.17.

Reliance Stock Up 1.4 %

Shares of Reliance stock opened at $296.67 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 1.58. The stock has a market cap of $16.06 billion, a price-to-earnings ratio of 16.29 and a beta of 0.91. The firm’s 50-day moving average is $288.73 and its two-hundred day moving average is $290.33. Reliance, Inc. has a 1 year low of $256.98 and a 1 year high of $342.20.

Insider Buying and Selling

In related news, SVP William A. Smith II sold 6,500 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 16,849 shares of the company’s stock, valued at $5,420,491.79. This trade represents a 27.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Karla R. Lewis sold 3,892 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $323.90, for a total transaction of $1,260,618.80. Following the sale, the chief executive officer now directly owns 85,117 shares in the company, valued at $27,569,396.30. This trade represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,724 shares of company stock valued at $5,366,450 over the last 90 days. Corporate 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.