State of Wisconsin Investment Board lifted its holdings in Rexnord Corp (NYSE:RXN) by 26.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 461,000 shares of the industrial products company’s stock after purchasing an additional 95,000 shares during the quarter. State of Wisconsin Investment Board’s holdings in Rexnord were worth $11,590,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. FMR LLC lifted its stake in Rexnord by 18.7% in the 4th quarter. FMR LLC now owns 8,153,115 shares of the industrial products company’s stock valued at $187,114,000 after acquiring an additional 1,285,223 shares in the last quarter. Norges Bank bought a new stake in shares of Rexnord during the 4th quarter worth approximately $26,209,000. TimesSquare Capital Management LLC raised its stake in shares of Rexnord by 65.1% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,947,167 shares of the industrial products company’s stock worth $48,952,000 after purchasing an additional 767,520 shares in the last quarter. BlackRock Inc. raised its stake in shares of Rexnord by 6.2% during the 4th quarter. BlackRock Inc. now owns 7,862,762 shares of the industrial products company’s stock worth $180,451,000 after purchasing an additional 456,769 shares in the last quarter. Finally, Impax Asset Management Group plc raised its stake in shares of Rexnord by 13.4% during the 4th quarter. Impax Asset Management Group plc now owns 3,795,391 shares of the industrial products company’s stock worth $87,104,000 after purchasing an additional 449,692 shares in the last quarter.
RXN opened at $28.74 on Friday. Rexnord Corp has a 1-year low of $21.38 and a 1-year high of $32.11. The company has a current ratio of 2.48, a quick ratio of 1.68 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $3.01 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 1.60 and a beta of 1.54.
Rexnord (NYSE:RXN) last posted its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. Rexnord had a return on equity of 19.22% and a net margin of 1.68%. The business had revenue of $537.50 million for the quarter, compared to analysts’ expectations of $543.89 million. During the same quarter in the prior year, the business earned $0.47 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities analysts expect that Rexnord Corp will post 1.95 earnings per share for the current year.
In related news, CEO Todd A. Adams sold 30,000 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $28.00, for a total value of $840,000.00. Following the sale, the chief executive officer now owns 211,792 shares in the company, valued at approximately $5,930,176. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Sudhanshu Chhabra sold 6,974 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $27.59, for a total value of $192,412.66. Following the completion of the transaction, the vice president now directly owns 8,601 shares in the company, valued at $237,301.59. The disclosure for this sale can be found here. In the last 90 days, insiders sold 334,621 shares of company stock worth $9,284,075. 4.50% of the stock is owned by company insiders.
Separately, Zacks Investment Research cut Rexnord from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Rexnord currently has an average rating of “Hold” and an average target price of $30.63.
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Rexnord Corp. engages in the manufacture of engineered power transmission, aerospace, and other precision motion technology products. It operates through the Process and Motion Control, and Water Management segments. The Process and Motion Control segment designs, manufactures and markets engineered mechanical components such as gears, couplings, industrial, aerospace bearings, and seals which are used within complex systems.
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