KBC Group NV Has $36.76 Million Position in Reliance, Inc. (NYSE:RS)

KBC Group NV decreased its stake in shares of Reliance, Inc. (NYSE:RS - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 136,537 shares of the industrial products company's stock after selling 3,123 shares during the quarter. KBC Group NV owned about 0.25% of Reliance worth $36,764,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Quarry LP purchased a new position in Reliance in the third quarter valued at $41,000. Versant Capital Management Inc lifted its holdings in Reliance by 157.8% during the 4th quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company's stock worth $58,000 after buying an additional 131 shares during the last quarter. UMB Bank n.a. lifted its stake in Reliance by 27.0% in the third quarter. UMB Bank n.a. now owns 249 shares of the industrial products company's stock valued at $72,000 after buying an additional 53 shares during the last quarter. Brooklyn Investment Group acquired a new position in Reliance in the third quarter valued at $78,000. Finally, Abound Wealth Management raised its holdings in shares of Reliance by 35,700.0% in the fourth quarter. Abound Wealth Management now owns 358 shares of the industrial products company's stock valued at $96,000 after buying an additional 357 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

Insiders Place Their Bets

In related news, CEO Karla R. Lewis sold 3,892 shares of the 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 sale, the chief executive officer now directly owns 85,117 shares of the company's stock, valued at $27,569,396.30. This represents a 4.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Arthur Ajemyan sold 6,332 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $318.18, for a total transaction of $2,014,715.76. Following the sale, the chief financial officer now directly owns 9,245 shares of the company's stock, valued at approximately $2,941,574.10. This represents a 40.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,724 shares of company stock worth $5,366,450. Insiders own 0.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. KeyCorp cut their price target on shares of Reliance from $325.00 to $321.00 and set an "overweight" rating for the company in a report on Wednesday, January 22nd. BMO Capital Markets lowered their target price 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. The Goldman Sachs Group started coverage on shares of Reliance in a research report on Monday, December 2nd. They issued a "neutral" rating and a $341.00 price target on the stock. Finally, Wolfe Research raised shares of Reliance from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $328.17.

Reliance Stock Performance

RS traded up $4.36 on Tuesday, hitting $292.58. 289,746 shares of the company's stock were exchanged, compared to its average volume of 426,703. Reliance, Inc. has a twelve month low of $256.98 and a twelve month high of $342.20. The company has a current ratio of 3.31, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12. The firm has a market cap of $15.83 billion, a PE ratio of 16.07 and a beta of 0.91. The stock has a fifty day moving average of $289.86 and a two-hundred day moving average of $290.30.

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.