SG Americas Securities LLC Has $227,000 Stock Position in Reliance, Inc. (NYSE:RS)

SG Americas Securities LLC trimmed its position in shares of Reliance, Inc. (NYSE:RS) by 88.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 843 shares of the industrial products company’s stock after selling 6,570 shares during the period. SG Americas Securities LLC’s holdings in Reliance were worth $227,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pure Financial Advisors LLC increased its position in 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 period. UMB Bank n.a. lifted its position in shares of Reliance by 41.8% in the 4th quarter. UMB Bank n.a. now owns 353 shares of the industrial products company’s stock worth $95,000 after acquiring an additional 104 shares during the period. HB Wealth Management LLC grew its holdings in shares of Reliance by 52.8% during the 4th quarter. HB Wealth Management LLC now owns 1,209 shares of the industrial products company’s stock worth $326,000 after purchasing an additional 418 shares in the last quarter. BTS Asset Management Inc. bought a new stake in shares of Reliance during the fourth quarter valued at approximately $707,000. Finally, Occidental Asset Management LLC raised its stake in shares of Reliance by 5.8% in the fourth quarter. Occidental Asset Management LLC now owns 16,494 shares of the industrial products company’s stock valued at $4,441,000 after purchasing an additional 898 shares in the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Reliance in a report on Monday, December 2nd. They issued a “neutral” rating and a $341.00 price target on the stock. KeyCorp dropped their price target on shares of Reliance from $325.00 to $321.00 and set an “overweight” rating for the company in a research report on Wednesday, January 22nd. Wolfe Research raised Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Finally, BMO Capital Markets dropped their price objective on Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Five investment analysts have rated the stock with a hold rating and two have given 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.

Insiders Place Their Bets

In other news, CEO Karla R. Lewis sold 3,892 shares of the business’s stock in a transaction 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 owns 85,117 shares in the company, valued at $27,569,396.30. The trade was a 4.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.69% of the company’s stock.

Reliance Price Performance

Reliance stock opened at $282.96 on Friday. The business’s fifty day moving average is $284.36 and its two-hundred day moving average is $289.51. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.58 and a current ratio of 3.31. The firm has a market cap of $15.31 billion, a P/E ratio of 15.54 and a beta of 0.90. Reliance, Inc. has a 52 week low of $256.98 and a 52 week high of $342.20.

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.