Metropolitan Life Insurance Co. NY decreased its position in shares of Rexnord Llc (NYSE:RXN) by 77.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,024 shares of the industrial products company’s stock after selling 109,974 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Rexnord were worth $833,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Macquarie Group Ltd. acquired a new stake in shares of Rexnord during the 4th quarter valued at $112,000. Global X Management Co. LLC boosted its holdings in shares of Rexnord by 75.3% during the 4th quarter. Global X Management Co. LLC now owns 7,194 shares of the industrial products company’s stock valued at $187,000 after acquiring an additional 3,090 shares in the last quarter. Investors Research Corp acquired a new stake in shares of Rexnord during the 4th quarter valued at $268,000. Balter Liquid Alternatives LLC acquired a new stake in shares of Rexnord during the 4th quarter valued at $271,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Rexnord during the 4th quarter valued at $317,000. 99.81% of the stock is currently owned by institutional investors.
Shares of NYSE:RXN opened at $29.13 on Friday. The firm has a market cap of $3,089.21, a P/E ratio of 22.07, a P/E/G ratio of 1.38 and a beta of 1.60. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.49 and a quick ratio of 1.58. Rexnord Llc has a 12-month low of $21.85 and a 12-month high of $31.44.
Rexnord (NYSE:RXN) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.10. The business had revenue of $492.30 million during the quarter, compared to analyst estimates of $479.66 million. Rexnord had a return on equity of 13.05% and a net margin of 8.29%. Rexnord’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $0.25 EPS. analysts expect that Rexnord Llc will post 1.35 earnings per share for the current fiscal year.
Several research analysts recently issued reports on RXN shares. ValuEngine raised Rexnord from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Bank of America raised Rexnord from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th. Zacks Investment Research lowered Rexnord from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Deutsche Bank set a $33.00 target price on Rexnord and gave the stock a “buy” rating in a research report on Friday, January 19th. Finally, Barclays started coverage on Rexnord in a research report on Thursday, February 15th. They set an “equal weight” rating and a $30.00 target price for the company. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $30.57.
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Rexnord Corporation designs, manufactures, and markets process and motion control, and water management products worldwide. The company operates in two segments, Process & Motion Control Platform and Water Management Platform. It offers table top conveying chain and related accessories, metal conveying and engineered woven metals, gearing and gear drives, conveying equipment, industrial chains, and custom assemblies; custom-engineered, application-specific miniature gearboxes, and motion control assemblies and components used in aerospace, defense, medical equipment, robotics, semiconductor, instrumentation, and satellite communications; and shaft management products, such as couplings, torque limiters, electromagnetic clutches and brakes, industrial bearings, and shaft locking assemblies.
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