Reliance, Inc. $RS Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its position in shares of Reliance, Inc. (NYSE:RS) by 7.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,290 shares of the industrial products company’s stock after selling 1,862 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Reliance were worth $6,821,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First National Advisers LLC purchased a new stake in shares of Reliance during the third quarter worth $1,948,000. Thrivent Financial for Lutherans boosted its stake in Reliance by 31.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 29,964 shares of the industrial products company’s stock worth $9,406,000 after purchasing an additional 7,146 shares during the period. Y Intercept Hong Kong Ltd grew its stake in shares of Reliance by 293.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 34,946 shares of the industrial products company’s stock valued at $9,814,000 after purchasing an additional 26,055 shares during the last quarter. SG Americas Securities LLC raised its holdings in Reliance by 144.9% during the third quarter. SG Americas Securities LLC now owns 18,700 shares of the industrial products company’s stock worth $5,252,000 after purchasing an additional 11,064 shares in the last quarter. Finally, Rakuten Investment Management Inc. purchased a new position in shares of Reliance during the 3rd quarter worth approximately $6,573,000. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RS has been the topic of a number of research analyst reports. Zacks Research downgraded Reliance from a “hold” rating to a “strong sell” rating in a research report on Monday, January 5th. BMO Capital Markets cut their target price on shares of Reliance from $340.00 to $315.00 and set an “outperform” rating for the company in a research note on Friday, October 24th. Wells Fargo & Company upped their target price on shares of Reliance from $284.00 to $287.00 and gave the company an “equal weight” rating in a report on Friday, November 14th. JPMorgan Chase & Co. lowered their price target on shares of Reliance from $345.00 to $340.00 and set an “overweight” rating for the company in a report on Friday, December 5th. Finally, KeyCorp reissued an “overweight” rating on shares of Reliance in a research report on Wednesday, January 7th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Reliance currently has an average rating of “Hold” and a consensus price target of $317.25.

Reliance Trading Up 0.2%

Shares of RS stock opened at $327.17 on Wednesday. The firm’s 50-day simple moving average is $296.55 and its 200-day simple moving average is $291.44. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.43 and a quick ratio of 2.08. Reliance, Inc. has a 1-year low of $250.07 and a 1-year high of $347.43. The firm has a market cap of $17.11 billion, a P/E ratio of 23.92, a PEG ratio of 1.95 and a beta of 0.92.

Insider Buying and Selling

In other news, CEO Karla R. Lewis sold 5,809 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $283.50, for a total transaction of $1,646,851.50. Following the completion of the sale, the chief executive officer directly owned 84,421 shares in the company, valued at $23,933,353.50. This represents a 6.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Stephen Paul Koch sold 3,066 shares of Reliance stock in a transaction on Monday, December 1st. The shares were sold at an average price of $283.56, for a total value of $869,394.96. Following the completion of the transaction, the chief operating officer owned 14,021 shares in the company, valued at $3,975,794.76. The trade was a 17.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.35% of the company’s stock.

Reliance Profile

Reliance Steel & Aluminum Co (NYSE: RS) is a leading metals service center company that distributes and processes a broad array of metal products. The company offers cut-to-length, shearing, blanking, sawing, bending, machining and value-added services for carbon and alloy steel, stainless steel, aluminum, brass, titanium and specialty metal alloys. Its products serve diverse end markets, including energy, infrastructure, general manufacturing, transportation, aerospace and defense.

Founded in 1939 in Los Angeles, Reliance Steel & Aluminum has grown through a combination of organic expansion and strategic acquisitions.