Olstein Capital Management L.P. lessened its stake in shares of Regal Beloit Corporation (NYSE:RBC) by 3.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 109,600 shares of the industrial products company’s stock after selling 4,000 shares during the period. Regal Beloit comprises approximately 1.1% of Olstein Capital Management L.P.’s investment portfolio, making the stock its 27th largest holding. Olstein Capital Management L.P. owned 0.25% of Regal Beloit worth $8,658,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Ronald Blue & Co. LLC grew its position in shares of Regal Beloit by 0.3% in the second quarter. Ronald Blue & Co. LLC now owns 4,566 shares of the industrial products company’s stock valued at $372,000 after purchasing an additional 14 shares during the last quarter. Teacher Retirement System of Texas grew its position in Regal Beloit by 1.1% during the second quarter. Teacher Retirement System of Texas now owns 3,570 shares of the industrial products company’s stock worth $291,000 after buying an additional 39 shares in the last quarter. Synovus Financial Corp grew its position in Regal Beloit by 4.4% during the second quarter. Synovus Financial Corp now owns 2,607 shares of the industrial products company’s stock worth $209,000 after buying an additional 110 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Regal Beloit by 1.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,704 shares of the industrial products company’s stock worth $710,000 after buying an additional 139 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in Regal Beloit by 1.6% during the second quarter. Ameritas Investment Partners Inc. now owns 13,409 shares of the industrial products company’s stock worth $1,094,000 after purchasing an additional 206 shares during the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.
RBC has been the subject of a number of research reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $90.00 price target on shares of Regal Beloit in a research note on Tuesday, November 28th. Robert W. Baird restated a “buy” rating and issued a $88.00 price objective on shares of Regal Beloit in a report on Wednesday, October 4th. ValuEngine downgraded Regal Beloit from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Stifel Nicolaus restated a “hold” rating and issued a $85.00 price objective on shares of Regal Beloit in a report on Tuesday, August 22nd. Finally, BMO Capital Markets decreased their price target on Regal Beloit from $88.00 to $85.00 and set a “market perform” rating for the company in a report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $86.63.
Regal Beloit Corporation (NYSE RBC) opened at $76.40 on Friday. 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 quick ratio of 1.22 and a current ratio of 2.22. The company has a market cap of $3,340.52, a P/E ratio of 15.81, a price-to-earnings-growth ratio of 1.41 and a beta of 1.48.
Regal Beloit (NYSE:RBC) last posted its earnings results on Monday, November 6th. The industrial products company reported $1.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.01). The firm had revenue of $857.00 million for the quarter, compared to the consensus estimate of $837.19 million. Regal Beloit had a return on equity of 9.76% and a net margin of 6.28%. Regal Beloit’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.31 EPS. sell-side analysts forecast that Regal Beloit Corporation will post 4.88 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.04 dividend on an annualized basis and a yield of 1.36%. Regal Beloit’s dividend payout ratio is 22.61%.
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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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