Venturi Wealth Management LLC Increases Position in Reliance, Inc. (NYSE:RS)

Venturi Wealth Management LLC raised its position in Reliance, Inc. (NYSE:RS) by 10.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,853 shares of the industrial products company’s stock after purchasing an additional 474 shares during the period. Venturi Wealth Management LLC’s holdings in Reliance were worth $1,307,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Toronto Dominion Bank grew its position in shares of Reliance by 26.7% in the 3rd quarter. Toronto Dominion Bank now owns 8,198 shares of the industrial products company’s stock valued at $2,371,000 after buying an additional 1,729 shares during the last quarter. Assetmark Inc. grew its position in shares of 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 grew its position in shares of 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. Pure Financial Advisors LLC grew its position in shares of Reliance by 232.9% in the 4th quarter. Pure Financial Advisors LLC now owns 9,281 shares of the industrial products company’s stock valued at $2,499,000 after buying an additional 6,493 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position 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 last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Reliance Trading Up 0.5 %

Shares of RS stock opened at $299.22 on Wednesday. The stock has a market cap of $16.19 billion, a price-to-earnings ratio of 16.43 and a beta of 0.91. The company has a quick ratio of 1.58, a current ratio of 3.31 and a debt-to-equity ratio of 0.12. Reliance, Inc. has a fifty-two week low of $256.98 and a fifty-two week high of $342.20. The firm’s 50 day moving average price is $281.97 and its two-hundred day moving average price is $289.04.

Insider Transactions at Reliance

In other Reliance news, 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 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 document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

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