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

Masso Torrence Wealth Management Inc. decreased its stake in Reliance, Inc. (NYSE:RS) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RS. Toronto Dominion Bank grew its position in Reliance by 26.7% in the 3rd quarter. Toronto Dominion Bank now owns 8,198 shares of the industrial products company’s stock worth $2,371,000 after purchasing an additional 1,729 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Reliance by 24.2% in the third 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 period. Dearborn Partners LLC grew its position in Reliance by 4.1% during the third 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Reliance by 1.3% during the third 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 period. Finally, Pure Financial Advisors LLC raised its holdings in 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 in the last quarter. Institutional investors own 79.26% of the company’s stock.

Insider Buying and Selling at Reliance

In related news, CEO Karla R. Lewis sold 3,892 shares of the firm’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 directly owns 85,117 shares of the company’s stock, valued at $27,569,396.30. This trade represents a 4.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP William A. Smith II sold 6,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $321.71, for a total value of $2,091,115.00. Following the completion of the transaction, the senior vice president now directly owns 16,849 shares in the company, valued at approximately $5,420,491.79. This represents a 27.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,724 shares of company stock worth $5,366,450 over the last ninety days. Corporate insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

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

Reliance Stock Up 1.4 %

Shares of NYSE:RS opened at $292.34 on Wednesday. The company’s fifty day moving average is $289.53 and its 200-day moving average is $290.27. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.58 and a current ratio of 3.31. Reliance, Inc. has a 52 week low of $256.98 and a 52 week high of $342.20. The company has a market capitalization of $15.82 billion, a PE ratio of 16.01 and a beta of 0.91.

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.