Masso Torrence Wealth Management Inc. Sells 37 Shares of Reliance, Inc. (NYSE:RS)

Masso Torrence Wealth Management Inc. cut its holdings in Reliance, Inc. (NYSE:RS) by 3.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 993 shares of the industrial products company’s stock after selling 37 shares during the period. Masso Torrence Wealth Management Inc.’s holdings in Reliance were worth $267,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Toronto Dominion Bank lifted its stake 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 purchasing an additional 1,729 shares during the period. Assetmark Inc. boosted its holdings in Reliance by 24.2% during the third quarter. Assetmark Inc. now owns 27,916 shares of the industrial products company’s stock worth $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% during the 3rd quarter. Dearborn Partners LLC now owns 86,406 shares of the industrial products company’s stock worth $24,989,000 after buying an additional 3,419 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake 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 acquiring an additional 1,696 shares during the last quarter. Finally, Pure Financial Advisors LLC raised 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 acquiring an additional 6,493 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RS. BMO Capital Markets decreased their price objective on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Wolfe Research raised shares of Reliance from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. KeyCorp dropped their price objective on Reliance from $325.00 to $321.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Finally, The Goldman Sachs Group assumed coverage on Reliance in a research note on Monday, December 2nd. They issued a “neutral” rating and a $341.00 target price for the company. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $328.17.

Insider Transactions at Reliance

In other news, SVP William A. Smith II sold 6,500 shares of the business’s 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 sale, the senior vice president now owns 16,849 shares of the company’s stock, valued at $5,420,491.79. The trade was a 27.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Karla R. Lewis sold 3,892 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was 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 in the company, valued at $27,569,396.30. The trade was a 4.37 % decrease in their position. 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 three months. Company insiders own 0.69% of the company’s stock.

Reliance Price Performance

RS stock opened at $292.34 on Wednesday. The stock has a 50-day moving average price of $289.53 and a two-hundred day moving average price of $290.27. Reliance, Inc. has a 1 year low of $256.98 and a 1 year high of $342.20. The stock has a market cap of $15.82 billion, a PE ratio of 16.01 and a beta of 0.91. The company has a current ratio of 3.31, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12.

Reliance 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.