KBC Group NV Reduces Stock Holdings in Reliance, Inc. (NYSE:RS)

KBC Group NV lessened its stake in shares of Reliance, Inc. (NYSE:RS) by 2.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 136,537 shares of the industrial products company’s stock after selling 3,123 shares during the period. KBC Group NV owned approximately 0.25% of Reliance worth $36,764,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Quarry LP purchased a new stake in shares of Reliance in the third quarter valued at $41,000. Versant Capital Management Inc lifted its stake in Reliance by 157.8% in the fourth quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 131 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Reliance by 27.0% during the third quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock valued at $72,000 after buying an additional 53 shares during the period. Brooklyn Investment Group bought a new position in shares of Reliance during the third quarter valued at approximately $78,000. Finally, Abound Wealth Management raised its holdings in shares of Reliance by 35,700.0% in the fourth quarter. Abound Wealth Management now owns 358 shares of the industrial products company’s stock worth $96,000 after buying an additional 357 shares during the period. 79.26% of the stock is currently owned by institutional investors.

Reliance Price Performance

Shares of RS opened at $288.27 on Tuesday. 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 company has a 50 day moving average price of $289.86 and a 200-day moving average price of $290.30. Reliance, Inc. has a fifty-two week low of $256.98 and a fifty-two week high of $342.20. The stock has a market capitalization of $15.60 billion, a PE ratio of 15.83 and a beta of 0.91.

Insiders Place Their Bets

In other Reliance news, SVP William A. Smith II sold 6,500 shares of Reliance stock in a transaction 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 transaction, the senior vice president now directly owns 16,849 shares of the company’s stock, valued at approximately $5,420,491.79. The trade was a 27.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Karla R. Lewis sold 3,892 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $323.90, for a total value of $1,260,618.80. Following the sale, the chief executive officer now owns 85,117 shares of the company’s stock, valued at approximately $27,569,396.30. This represents a 4.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,724 shares of company stock worth $5,366,450 over the last 90 days. Company insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

RS has been the subject of a number of recent analyst reports. Wolfe Research upgraded Reliance from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. 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 decreased their price objective on shares of Reliance from $325.00 to $321.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Finally, BMO Capital Markets dropped their target price on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Reliance has a consensus rating of “Hold” and an average target price of $328.17.

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.