Moody National Bank Trust Division increased its position in shares of Rexnord Corp (NYSE:RXN) by 1,009.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 132,390 shares of the industrial products company’s stock after buying an additional 120,460 shares during the period. Moody National Bank Trust Division owned 0.13% of Rexnord worth $4,077,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC boosted its holdings in Rexnord by 21.2% in the 2nd quarter. FMR LLC now owns 6,238,342 shares of the industrial products company’s stock valued at $181,286,000 after purchasing an additional 1,089,253 shares during the period. Robecosam AG boosted its holdings in Rexnord by 117.9% in the 3rd quarter. Robecosam AG now owns 832,367 shares of the industrial products company’s stock valued at $25,787,000 after purchasing an additional 450,429 shares during the period. Federated Investors Inc. PA boosted its holdings in Rexnord by 18,706.7% in the 2nd quarter. Federated Investors Inc. PA now owns 431,801 shares of the industrial products company’s stock valued at $12,548,000 after purchasing an additional 429,505 shares during the period. Macquarie Group Ltd. boosted its holdings in Rexnord by 55.9% in the 2nd quarter. Macquarie Group Ltd. now owns 1,093,275 shares of the industrial products company’s stock valued at $31,771,000 after purchasing an additional 391,987 shares during the period. Finally, Waddell & Reed Financial Inc. boosted its holdings in Rexnord by 82.9% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 632,765 shares of the industrial products company’s stock valued at $18,388,000 after purchasing an additional 286,800 shares during the period.
RXN has been the subject of a number of research reports. KeyCorp increased their price target on shares of Rexnord from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, July 31st. Oppenheimer reissued a “buy” rating and issued a $35.00 price target on shares of Rexnord in a report on Monday, July 30th. Bank of America increased their price target on shares of Rexnord from $32.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Goldman Sachs Group initiated coverage on shares of Rexnord in a report on Tuesday, October 2nd. They issued a “neutral” rating and a $31.00 price target for the company. Finally, ValuEngine downgraded shares of Rexnord from a “buy” rating to a “hold” rating in a report on Thursday, October 18th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $32.71.
In other Rexnord news, Director Theodore D. Crandall acquired 4,000 shares of Rexnord stock in a transaction dated Thursday, November 1st. The stock was bought at an average cost of $27.84 per share, with a total value of $111,360.00. Following the acquisition, the director now owns 20,330 shares of the company’s stock, valued at $565,987.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.50% of the stock is currently owned by company insiders.
NYSE:RXN opened at $28.32 on Friday. The stock has a market cap of $2.81 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 0.96 and a beta of 1.48. Rexnord Corp has a 52 week low of $22.89 and a 52 week high of $32.11. The company has a quick ratio of 1.62, a current ratio of 2.23 and a debt-to-equity ratio of 1.17.
Rexnord (NYSE:RXN) last released its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The company had revenue of $524.80 million during the quarter, compared to the consensus estimate of $516.66 million. Rexnord had a negative net margin of 0.89% and a positive return on equity of 16.99%. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period last year, the firm earned $0.32 EPS. On average, equities research analysts expect that Rexnord Corp will post 1.72 EPS for the current year.
Rexnord Corporation designs, manufactures, and markets process and motion control, and water management products worldwide. It operates in two segments, Process & Motion Control Platform and Water Management Platform. The company offers table top conveying chain and related accessories, metal conveying and engineered woven metals, gearing and gear drives, conveying equipment, industrial chain, 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, including couplings, torque limiters, electromagnetic clutches and brakes, industrial bearings, and shaft locking assemblies.
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