Sei Investments Co. grew its stake in Regal Beloit Corp (NYSE:RBC) by 16.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,894 shares of the industrial products company’s stock after purchasing an additional 2,353 shares during the quarter. Sei Investments Co.’s holdings in Regal Beloit were worth $1,239,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of RBC. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Regal Beloit during the fourth quarter valued at approximately $100,000. Tower Research Capital LLC TRC increased its position in shares of Regal Beloit by 2,200.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,300 shares of the industrial products company’s stock valued at $176,000 after acquiring an additional 2,200 shares during the last quarter. Verity Asset Management Inc. purchased a new stake in shares of Regal Beloit during the first quarter valued at approximately $209,000. Canandaigua National Bank & Trust Co. purchased a new stake in shares of Regal Beloit during the first quarter valued at approximately $280,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Regal Beloit during the fourth quarter valued at approximately $304,000. Institutional investors own 93.80% of the company’s stock.
NYSE:RBC opened at $80.55 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.36 and a quick ratio of 1.27. Regal Beloit Corp has a 1 year low of $67.84 and a 1 year high of $87.50. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 1.36 and a beta of 1.46.
Regal Beloit (NYSE:RBC) last released its earnings results on Monday, May 7th. The industrial products company reported $1.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.09. Regal Beloit had a return on equity of 9.87% and a net margin of 6.57%. The business had revenue of $878.80 million during the quarter, compared to the consensus estimate of $869.33 million. During the same period last year, the business posted ($0.14) earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. equities research analysts predict that Regal Beloit Corp will post 5.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Friday, June 29th will be given a $0.28 dividend. This is an increase from Regal Beloit’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Thursday, June 28th. Regal Beloit’s dividend payout ratio (DPR) is currently 21.36%.
A number of analysts recently commented on RBC shares. Zacks Investment Research downgraded Regal Beloit from a “buy” rating to a “hold” rating in a research report on Wednesday, April 11th. Wolfe Research started coverage on Regal Beloit in a research report on Wednesday. They set an “outperform” rating and a $97.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $86.83.
Regal Beloit Company Profile
Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and power transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.
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