Regal Rexnord Corporation Declares Quarterly Dividend of $0.35 (NYSE:RRX)

Regal Rexnord Corporation (NYSE:RRX) announced a quarterly dividend on Wednesday, October 22nd. Shareholders of record on Wednesday, December 31st will be given a dividend of 0.35 per share on Wednesday, January 14th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, December 31st.

Regal Rexnord has a dividend payout ratio of 12.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Regal Rexnord to earn $11.69 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 12.0%.

Regal Rexnord Trading Down 3.8%

Regal Rexnord stock opened at $141.34 on Thursday. The business has a 50-day simple moving average of $145.01 and a two-hundred day simple moving average of $137.61. The company has a market cap of $9.38 billion, a P/E ratio of 37.59, a P/E/G ratio of 1.48 and a beta of 1.16. Regal Rexnord has a 52-week low of $90.56 and a 52-week high of $185.28. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 0.72.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Friday, September 8th. The company reported $2.76 earnings per share (EPS) for the quarter. The business had revenue of $1.85 billion during the quarter. Regal Rexnord had a return on equity of 9.73% and a net margin of 4.28%. Analysts predict that Regal Rexnord will post 9.95 EPS for the current year.

Institutional Trading of Regal Rexnord

Several hedge funds have recently modified their holdings of the company. Viking Global Investors LP raised its holdings in shares of Regal Rexnord by 25.7% during the 2nd quarter. Viking Global Investors LP now owns 3,430,128 shares of the company’s stock worth $497,231,000 after acquiring an additional 701,145 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in Regal Rexnord by 6.0% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 3,083,622 shares of the company’s stock valued at $351,070,000 after acquiring an additional 175,273 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Regal Rexnord by 4.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,882,369 shares of the company’s stock valued at $328,158,000 after acquiring an additional 115,564 shares during the last quarter. Victory Capital Management Inc. grew its position in Regal Rexnord by 11.9% in the 1st quarter. Victory Capital Management Inc. now owns 2,436,848 shares of the company’s stock valued at $277,435,000 after acquiring an additional 259,885 shares during the last quarter. Finally, Norges Bank bought a new position in Regal Rexnord in the 2nd quarter valued at $256,155,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

Regal Rexnord Company Profile

Regal Rexnord Corporation manufactures and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes, gear motors, clutches, brakes, special, and industrial powertrain components and solutions for food and beverage, bulk material handling, eCommerce/warehouse distribution, energy, mining, marine, agricultural machinery, turf and garden, and general industrial markets.