This is just my personal opinion, but it seems that you are jealous/envious of people in committed relationships.
I do that all the time, in fact, I was twisting my ring and sliding it up and down my finger before I even begun to read the question! For me, and I'm assuming for most others, we simply do this out of habit. I highly doubt he ment anything by it; seems you are reading into this situation.
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The question is, does he do this regularly, and in front of other people (unattractive people, etc.)? If not, the behavior probably indicates attraction to you. If he does this all of the time, it's probably just an ordinary fidget. Try to observe him regularly to see.
Some people just have to fidget around with things when they talk to people. I do it a lot when I'm nervous, then again I don't have a wedding ring to do it with so I usually use my phone or pen.
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