Crossmark Global Holdings Inc. acquired a new stake in Regal Beloit Corporation (NYSE:RBC) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,936 shares of the industrial products company’s stock, valued at approximately $548,000.
Several other large investors also recently added to or reduced their stakes in the business. Aperio Group LLC increased its holdings in shares of Regal Beloit by 4.8% in the third quarter. Aperio Group LLC now owns 14,965 shares of the industrial products company’s stock valued at $1,182,000 after purchasing an additional 684 shares during the last quarter. Nationwide Fund Advisors increased its holdings in shares of Regal Beloit by 14.5% in the third quarter. Nationwide Fund Advisors now owns 116,818 shares of the industrial products company’s stock valued at $9,229,000 after purchasing an additional 14,810 shares during the last quarter. APG Asset Management N.V. acquired a new position in shares of Regal Beloit in the third quarter valued at $4,914,000. Foster & Motley Inc. increased its holdings in shares of Regal Beloit by 344.7% in the third quarter. Foster & Motley Inc. now owns 14,822 shares of the industrial products company’s stock valued at $1,171,000 after purchasing an additional 11,489 shares during the last quarter. Finally, Oakbrook Investments LLC acquired a new position in shares of Regal Beloit in the third quarter valued at $261,000. Hedge funds and other institutional investors own 93.86% of the company’s stock.
Regal Beloit Corporation (RBC) traded up $0.90 on Monday, reaching $77.15. 269,826 shares of the company traded hands, compared to its average volume of 249,572. Regal Beloit Corporation has a 1-year low of $68.30 and a 1-year high of $87.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.22 and a quick ratio of 1.22. The company has a market capitalization of $3,378.18, a PE ratio of 15.98, a price-to-earnings-growth ratio of 1.42 and a beta of 1.48.
Regal Beloit (NYSE:RBC) last posted its quarterly earnings data on Monday, November 6th. The industrial products company reported $1.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.01). Regal Beloit had a return on equity of 9.76% and a net margin of 6.28%. The firm had revenue of $857.00 million for the quarter, compared to the consensus estimate of $837.19 million. During the same period in the prior year, the company earned $1.31 EPS. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. sell-side analysts anticipate that Regal Beloit Corporation will post 4.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be given a dividend of $0.26 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.04 annualized dividend and a yield of 1.35%. Regal Beloit’s dividend payout ratio is 22.61%.
A number of equities research analysts have recently issued reports on RBC shares. Royal Bank Of Canada reissued a “buy” rating on shares of Regal Beloit in a research report on Monday, November 6th. Zacks Investment Research cut shares of Regal Beloit from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Robert W. Baird reissued a “buy” rating and issued a $88.00 target price on shares of Regal Beloit in a research report on Wednesday, October 4th. Morgan Stanley boosted their target price on shares of Regal Beloit from $82.00 to $87.00 and gave the company an “equal weight” rating in a research report on Monday, October 2nd. Finally, BidaskClub cut shares of Regal Beloit from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $86.63.
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Regal Beloit Profile
Regal Beloit Corporation is a manufacturer of electric motors, electrical motion controls, power generation and power transmission products. The Company operates through three segments: the Commercial and Industrial Systems segment, with its principal line of business in medium and large electric motors, power generation products, high-performance drives and controls and capacitors; the Climate Solutions segment, with its principal line of business in small motors, controls and air moving products, and the Power Transmission Solutions segment, with its principal line of business in power transmission gearing, hydraulic pump drives, open gearing and specialty mechanical products which control motion and torque.
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