Choreo LLC Trims Stock Holdings in Reliance, Inc. (NYSE:RS)

Choreo LLC lowered its holdings in shares of Reliance, Inc. (NYSE:RS) by 18.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,408 shares of the industrial products company’s stock after selling 315 shares during the quarter. Choreo LLC’s holdings in Reliance were worth $375,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in Reliance by 4.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,973 shares of the industrial products company’s stock valued at $2,389,000 after buying an additional 404 shares during the period. E. Ohman J or Asset Management AB raised its position in shares of Reliance by 19.6% in the 4th quarter. E. Ohman J or Asset Management AB now owns 2,750 shares of the industrial products company’s stock worth $740,000 after acquiring an additional 450 shares in the last quarter. DAVENPORT & Co LLC raised its position in shares of Reliance by 18.7% in the 4th quarter. DAVENPORT & Co LLC now owns 1,620 shares of the industrial products company’s stock worth $436,000 after acquiring an additional 255 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in shares of Reliance by 0.9% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 150,140 shares of the industrial products company’s stock worth $40,427,000 after purchasing an additional 1,410 shares during the last quarter. Finally, Hunter Associates Investment Management LLC boosted its position in Reliance by 4.6% during the fourth quarter. Hunter Associates Investment Management LLC now owns 7,360 shares of the industrial products company’s stock valued at $1,989,000 after purchasing an additional 324 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. KeyCorp cut their price objective on shares of Reliance from $325.00 to $321.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. BMO Capital Markets decreased their price target 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. 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 issued a buy rating to the stock. According to data from MarketBeat.com, Reliance presently has an average rating of “Hold” and an average target price of $328.17.

Reliance Trading Down 1.2 %

NYSE:RS opened at $286.93 on Thursday. The stock has a market capitalization of $15.53 billion, a price-to-earnings ratio of 15.76 and a beta of 0.91. Reliance, Inc. has a 1 year low of $256.98 and a 1 year high of $342.20. The stock has a fifty day moving average price of $282.78 and a two-hundred day moving average price of $289.16. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.58 and a current ratio of 3.31.

Insider Activity at Reliance

In other news, CEO Karla R. Lewis sold 3,892 shares of the business’s stock in a transaction dated 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 owns 85,117 shares in the company, valued at approximately $27,569,396.30. The trade was a 4.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.69% of the stock is owned by corporate insiders.

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.