Convergence Investment Partners LLC Invests $3.23 Million in Rexnord Corp (RXN)

Convergence Investment Partners LLC acquired a new stake in Rexnord Corp (NYSE:RXN) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 123,947 shares of the industrial products company’s stock, valued at approximately $3,225,000. Convergence Investment Partners LLC owned 0.12% of Rexnord at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its holdings in shares of Rexnord by 5.5% during the 3rd quarter. Janus Henderson Group PLC now owns 14,177,506 shares of the industrial products company’s stock worth $360,250,000 after buying an additional 738,129 shares during the period. BlackRock Inc. boosted its holdings in shares of Rexnord by 14.4% during the 2nd quarter. BlackRock Inc. now owns 7,026,845 shares of the industrial products company’s stock worth $163,374,000 after buying an additional 883,165 shares during the period. Impax Asset Management LTD boosted its holdings in shares of Rexnord by 4.1% during the 3rd quarter. Impax Asset Management LTD now owns 3,203,772 shares of the industrial products company’s stock worth $81,408,000 after buying an additional 125,327 shares during the period. Capital World Investors boosted its holdings in shares of Rexnord by 3.4% during the 2nd quarter. Capital World Investors now owns 3,000,000 shares of the industrial products company’s stock worth $69,750,000 after buying an additional 100,000 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Rexnord by 2.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,665,666 shares of the industrial products company’s stock worth $67,735,000 after buying an additional 73,216 shares during the period.

Shares of Rexnord Corp (NYSE RXN) opened at $27.59 on Wednesday. The company has a market cap of $2,870.00, a PE ratio of 43.11, a P/E/G ratio of 2.23 and a beta of 1.65. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.23 and a current ratio of 3.08. Rexnord Corp has a twelve month low of $20.75 and a twelve month high of $28.44.

Rexnord (NYSE:RXN) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The business had revenue of $510.80 million during the quarter, compared to the consensus estimate of $505.75 million. Rexnord had a net margin of 4.45% and a return on equity of 12.03%. Rexnord’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 EPS. analysts forecast that Rexnord Corp will post 1.25 earnings per share for the current fiscal year.

Several analysts recently commented on RXN shares. Oppenheimer reaffirmed a “hold” rating on shares of Rexnord in a report on Thursday, September 28th. Zacks Investment Research raised shares of Rexnord from a “sell” rating to a “hold” rating in a report on Monday, October 16th. TheStreet downgraded shares of Rexnord from a “b-” rating to a “c+” rating in a report on Wednesday, November 15th. Finally, Bank of America raised shares of Rexnord from a “neutral” rating to a “buy” rating in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $27.00.

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Rexnord Company Profile

Rexnord Corporation is a multi-platform industrial company. The Company operates through two segments: Process & Motion Control platform, and Water Management platform. The Process & Motion Control platform designs, manufactures, markets and services a range of engineered mechanical components used within systems.

Institutional Ownership by Quarter for Rexnord (NYSE:RXN)

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