Robeco Institutional Asset Management B.V. Sells 510 Shares of Reliance, Inc. (NYSE:RS)

Robeco Institutional Asset Management B.V. trimmed its stake in shares of Reliance, Inc. (NYSE:RS) by 10.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,482 shares of the industrial products company’s stock after selling 510 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Reliance were worth $1,207,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RS. Handelsbanken Fonder AB lifted its stake in Reliance by 26.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 14,781 shares of the industrial products company’s stock worth $4,275,000 after purchasing an additional 3,100 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Reliance by 19.1% in the third quarter. GAMMA Investing LLC now owns 697 shares of the industrial products company’s stock worth $202,000 after purchasing an additional 112 shares during the period. Fulton Bank N.A. increased its holdings in shares of Reliance by 3.1% in the third 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. UMB Bank n.a. grew its position in Reliance by 27.0% during the third quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock worth $72,000 after buying an additional 53 shares in the last quarter. Finally, Evexia Wealth LLC grew its position in Reliance by 1.4% during the third quarter. Evexia Wealth LLC now owns 12,400 shares of the industrial products company’s stock worth $3,530,000 after buying an additional 166 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on RS shares. KeyCorp dropped their price target on Reliance from $325.00 to $321.00 and set an “overweight” rating for the company in a research report on Wednesday, January 22nd. The Goldman Sachs Group initiated coverage on shares of Reliance in a research note on Monday, December 2nd. They issued a “neutral” rating and a $341.00 target price on the stock. BMO Capital Markets decreased their price target on shares of 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 shares of Reliance from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Reliance currently has a consensus rating of “Hold” and an average price target of $328.17.

Insider Activity

In related news, CEO Karla R. Lewis sold 3,892 shares of the firm’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 transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is owned by corporate insiders.

Reliance Stock Down 1.4 %

Shares of NYSE RS opened at $281.79 on Wednesday. Reliance, Inc. has a one year low of $256.98 and a one year high of $342.20. The stock has a market capitalization of $15.25 billion, a P/E ratio of 15.47 and a beta of 0.90. The firm’s 50 day simple moving average is $286.60 and its two-hundred day simple moving average is $289.70. 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 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.