American Century Companies Inc. cut its position in Rexnord Corporation (NYSE:RXN) by 76.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,452 shares of the industrial products company’s stock after selling 396,986 shares during the quarter. American Century Companies Inc. owned about 0.12% of Rexnord worth $3,162,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RXN. State Street Corp boosted its stake in Rexnord by 2.2% in the 1st quarter. State Street Corp now owns 1,544,257 shares of the industrial products company’s stock valued at $35,639,000 after purchasing an additional 33,511 shares during the period. Aperio Group LLC boosted its stake in Rexnord by 11.9% in the 2nd quarter. Aperio Group LLC now owns 9,774 shares of the industrial products company’s stock valued at $227,000 after purchasing an additional 1,043 shares during the period. US Bancorp DE boosted its stake in Rexnord by 79.9% in the 2nd quarter. US Bancorp DE now owns 6,074 shares of the industrial products company’s stock valued at $141,000 after purchasing an additional 2,697 shares during the period. Strs Ohio bought a new stake in Rexnord in the 2nd quarter valued at $139,000. Finally, Channing Capital Management LLC boosted its stake in Rexnord by 1.6% in the 2nd quarter. Channing Capital Management LLC now owns 2,160,015 shares of the industrial products company’s stock valued at $50,220,000 after purchasing an additional 34,549 shares during the period.
A number of analysts have recently weighed in on the company. TheStreet downgraded Rexnord from a “b-” rating to a “c+” rating in a research report on Wednesday, November 15th. Zacks Investment Research upgraded Rexnord from a “sell” rating to a “hold” rating in a research report on Monday, October 16th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Rexnord in a research report on Thursday, September 28th. Robert W. Baird set a $27.00 target price on Rexnord and gave the company a “buy” rating in a research report on Thursday, August 24th. Finally, BidaskClub downgraded Rexnord from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $26.00.
Rexnord Corporation (NYSE:RXN) traded down $0.27 during trading hours on Friday, hitting $23.84. The stock had a trading volume of 151,249 shares, compared to its average volume of 849,491. The company has a market cap of $2,477.57, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 1.90 and a beta of 1.65. The company has a current ratio of 3.08, a quick ratio of 2.23 and a debt-to-equity ratio of 1.37. Rexnord Corporation has a 1 year low of $19.32 and a 1 year high of $26.24.
Rexnord (NYSE:RXN) last released its earnings results on Wednesday, November 1st. The industrial products company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $510.80 million during the quarter, compared to the consensus estimate of $505.75 million. Rexnord had a return on equity of 12.03% and a net margin of 4.45%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 EPS. analysts expect that Rexnord Corporation will post 1.26 EPS for the current fiscal year.
In other news, insider Michael Troutman sold 22,914 shares of the company’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $24.15, for a total transaction of $553,373.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.50% of the company’s stock.
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.
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