New York State Teachers Retirement System Sells 1,304 Shares of Reliance, Inc. (NYSE:RS)

New York State Teachers Retirement System lowered its position in shares of Reliance, Inc. (NYSE:RS) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,953 shares of the industrial products company’s stock after selling 1,304 shares during the period. New York State Teachers Retirement System owned about 0.11% of Reliance worth $15,335,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP bought a new stake in shares of Reliance in the 3rd quarter valued at about $41,000. Versant Capital Management Inc lifted its stake in shares of Reliance by 157.8% in the 4th quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 131 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Reliance in the 3rd quarter valued at about $78,000. UMB Bank n.a. lifted its stake 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 valued at $95,000 after acquiring an additional 104 shares during the last quarter. Finally, Abound Wealth Management lifted its stake in shares of Reliance by 35,700.0% in the 4th quarter. Abound Wealth Management now owns 358 shares of the industrial products company’s stock valued at $96,000 after acquiring an additional 357 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.

Reliance Stock Up 2.3 %

RS stock opened at $297.98 on Monday. Reliance, Inc. has a fifty-two week low of $256.98 and a fifty-two week high of $342.20. The business’s 50 day moving average price is $282.33 and its two-hundred day moving average price is $288.94. 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 market capitalization of $16.13 billion, a price-to-earnings ratio of 16.36 and a beta of 0.91.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Reliance news, CEO Karla R. Lewis sold 3,892 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 85,117 shares in the company, valued at approximately $27,569,396.30. This represents a 4.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.69% of the company’s stock.

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.