BNP Paribas Arbitrage SA trimmed its position in Rexnord Corp (NYSE:RXN) by 26.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,110 shares of the industrial products company’s stock after selling 5,072 shares during the period. BNP Paribas Arbitrage SA’s holdings in Rexnord were worth $359,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Manchester Capital Management LLC raised its stake in shares of Rexnord by 171.6% in the second quarter. Manchester Capital Management LLC now owns 5,540 shares of the industrial products company’s stock worth $129,000 after buying an additional 3,500 shares during the period. Strs Ohio bought a new position in shares of Rexnord in the second quarter worth about $139,000. US Bancorp DE raised its stake in shares of Rexnord by 79.9% in the second quarter. US Bancorp DE now owns 6,074 shares of the industrial products company’s stock worth $141,000 after buying an additional 2,697 shares during the period. MUFG Americas Holdings Corp bought a new position in shares of Rexnord in the second quarter worth about $211,000. Finally, Parametrica Management Ltd bought a new position in shares of Rexnord in the third quarter worth about $212,000.
RXN has been the topic of several recent research reports. Oppenheimer reaffirmed a “hold” rating on shares of Rexnord in a research note on Thursday, September 28th. TheStreet downgraded Rexnord from a “b-” rating to a “c+” rating in a research note on Wednesday, November 15th. Zacks Investment Research raised Rexnord from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. Finally, Robert W. Baird set a $27.00 price objective on Rexnord and gave the stock a “buy” rating in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Rexnord has an average rating of “Hold” and an average target price of $27.00.
Rexnord Corp (RXN) traded up $0.11 during midday trading on Monday, hitting $24.70. The stock had a trading volume of 738,300 shares, compared to its average volume of 914,130. The company has a market capitalization of $2,566.95, a P/E ratio of 20.76, a P/E/G ratio of 1.97 and a beta of 1.65. Rexnord Corp has a 1 year low of $19.32 and a 1 year high of $26.24. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.08 and a quick ratio of 2.23.
Rexnord (NYSE:RXN) last issued its earnings results on Wednesday, November 1st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The company had revenue of $510.80 million for 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 firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $0.38 EPS. analysts forecast that Rexnord Corp will post 1.26 EPS for the current fiscal year.
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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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