Reliance, Inc. $RS Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its holdings in Reliance, Inc. (NYSE:RS) by 57.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,684 shares of the industrial products company’s stock after selling 17,280 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Reliance were worth $3,562,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RS. Private Trust Co. NA raised its holdings in shares of Reliance by 417.6% during the second quarter. Private Trust Co. NA now owns 88 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 71 shares during the last quarter. Root Financial Partners LLC acquired a new stake in Reliance during the 3rd quarter worth about $38,000. Allworth Financial LP raised its stake in shares of Reliance by 46.3% during the 2nd quarter. Allworth Financial LP now owns 139 shares of the industrial products company’s stock valued at $44,000 after buying an additional 44 shares during the last quarter. Caldwell Trust Co acquired a new position in shares of Reliance in the 2nd quarter valued at about $58,000. Finally, Transamerica Financial Advisors LLC boosted its stake in shares of Reliance by 31.4% in the second quarter. Transamerica Financial Advisors LLC now owns 201 shares of the industrial products company’s stock worth $63,000 after buying an additional 48 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Stock Up 3.3%

RS opened at $353.71 on Monday. The company has a market cap of $18.50 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 2.11 and a beta of 0.92. Reliance, Inc. has a twelve month low of $250.07 and a twelve month high of $354.38. The company has a 50-day moving average price of $306.42 and a 200 day moving average price of $291.65. The company has a quick ratio of 2.08, a current ratio of 4.43 and a debt-to-equity ratio of 0.19.

Wall Street Analysts Forecast Growth

RS has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price target on Reliance from $345.00 to $340.00 and set an “overweight” rating for the company in a research report on Friday, December 5th. KeyCorp reaffirmed an “overweight” rating on shares of Reliance in a research note on Wednesday, January 7th. Zacks Research upgraded shares of Reliance from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. BMO Capital Markets dropped their price target on shares of Reliance from $340.00 to $315.00 and set an “outperform” rating on the stock in a research report on Friday, October 24th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Reliance in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $317.25.

Insider Activity at Reliance

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

Reliance Company 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.