Venturi Wealth Management LLC Acquires 474 Shares of Reliance, Inc. (NYSE:RS)

Venturi Wealth Management LLC boosted its holdings in shares of Reliance, Inc. (NYSE:RS) by 10.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,853 shares of the industrial products company’s stock after acquiring an additional 474 shares during the quarter. Venturi Wealth Management LLC’s holdings in Reliance were worth $1,307,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position in shares of Reliance by 6,311.2% in the fourth quarter. Pacer Advisors Inc. now owns 816,465 shares of the industrial products company’s stock valued at $219,841,000 after purchasing an additional 803,730 shares during the period. Principal Financial Group Inc. raised its position in shares of Reliance by 53.5% in the fourth quarter. Principal Financial Group Inc. now owns 725,685 shares of the industrial products company’s stock valued at $195,402,000 after purchasing an additional 252,955 shares during the period. International Assets Investment Management LLC raised its position in shares of Reliance by 27,269.0% in the third quarter. International Assets Investment Management LLC now owns 112,213 shares of the industrial products company’s stock valued at $32,453,000 after purchasing an additional 111,803 shares during the period. Woodward Diversified Capital LLC bought a new position in shares of Reliance in the fourth quarter valued at approximately $21,015,000. Finally, KBC Group NV raised its position in shares of Reliance by 68.8% in the third quarter. KBC Group NV now owns 139,660 shares of the industrial products company’s stock valued at $40,391,000 after purchasing an additional 56,933 shares during the period. Institutional investors own 79.26% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Karla R. Lewis sold 3,892 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $323.90, for a total transaction of $1,260,618.80. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.69% of the company’s stock.

Reliance Stock Performance

Shares of NYSE:RS opened at $299.22 on Wednesday. The company has a market capitalization of $16.19 billion, a price-to-earnings ratio of 16.43 and a beta of 0.91. The firm’s 50 day simple moving average is $281.97 and its 200 day simple moving average is $289.04. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 1.58. Reliance, Inc. has a fifty-two week low of $256.98 and a fifty-two week high of $342.20.

Wall Street Analysts Forecast Growth

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

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.