Regal Beloit Corporation (RBC) Shares Bought by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC boosted its position in Regal Beloit Corporation (NYSE:RBC) by 7,741.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,484 shares of the industrial products company’s stock after purchasing an additional 25,159 shares during the period. Cubist Systematic Strategies LLC owned about 0.06% of Regal Beloit Corporation worth $2,078,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Regal Beloit Corporation by 2.2% in the 2nd quarter. State Street Corp now owns 1,163,293 shares of the industrial products company’s stock valued at $94,869,000 after purchasing an additional 24,844 shares in the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in Regal Beloit Corporation by 57.7% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 95,907 shares of the industrial products company’s stock valued at $7,820,000 after purchasing an additional 35,102 shares in the last quarter. Shelton Capital Management purchased a new position in Regal Beloit Corporation in the 2nd quarter valued at approximately $277,000. Macquarie Group Ltd. increased its stake in Regal Beloit Corporation by 2.1% in the 2nd quarter. Macquarie Group Ltd. now owns 395,277 shares of the industrial products company’s stock valued at $32,235,000 after purchasing an additional 8,259 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in Regal Beloit Corporation by 9.9% in the 2nd quarter. Royal Bank of Canada now owns 564,324 shares of the industrial products company’s stock valued at $46,021,000 after purchasing an additional 50,656 shares in the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

Regal Beloit Corporation (RBC) traded up 0.06% during trading on Tuesday, reaching $78.85. The company’s stock had a trading volume of 26,308 shares. The firm has a 50-day moving average price of $77.07 and a 200-day moving average price of $79.23. Regal Beloit Corporation has a 52 week low of $56.45 and a 52 week high of $87.50. The firm has a market capitalization of $3.52 billion, a P/E ratio of 17.41 and a beta of 1.53.

Regal Beloit Corporation (NYSE:RBC) last posted its quarterly earnings results on Monday, August 7th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.01. The company had revenue of $869.20 million for the quarter, compared to analysts’ expectations of $854.66 million. Regal Beloit Corporation had a return on equity of 9.88% and a net margin of 6.29%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 earnings per share. On average, equities analysts anticipate that Regal Beloit Corporation will post $4.86 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a $0.26 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.04 annualized dividend and a dividend yield of 1.32%. Regal Beloit Corporation’s dividend payout ratio is currently 22.96%.

In other Regal Beloit Corporation news, Director Henry W. Knueppel sold 20,000 shares of the company’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $85.00, for a total value of $1,700,000.00. Following the transaction, the director now owns 3,726 shares of the company’s stock, valued at $316,710. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.20% of the stock is currently owned by corporate insiders.

RBC has been the subject of several research analyst reports. BidaskClub downgraded Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Credit Suisse Group reaffirmed a “buy” rating and issued a $88.00 price objective on shares of Regal Beloit Corporation in a research note on Thursday, June 29th. Wolfe Research initiated coverage on Regal Beloit Corporation in a research note on Tuesday, July 11th. They issued a “market perform” rating for the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Regal Beloit Corporation in a research note on Friday, July 14th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Regal Beloit Corporation in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Regal Beloit Corporation has a consensus rating of “Hold” and an average price target of $86.33.

TRADEMARK VIOLATION NOTICE: This story was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislati

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Regal Beloit Corporation by 2.2% in the 2nd quarter. State Street Corp now owns 1,163,293 shares of the industrial products company’s stock valued at $94,869,000 after purchasing an additional 24,844 shares in the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in Regal Beloit Corporation by 57.7% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 95,907 shares of the industrial products company’s stock valued at $7,820,000 after purchasing an additional 35,102 shares in the last quarter. Shelton Capital Management purchased a new position in Regal Beloit Corporation in the 2nd quarter valued at approximately $277,000. Macquarie Group Ltd. increased its stake in Regal Beloit Corporation by 2.1% in the 2nd quarter. Macquarie Group Ltd. now owns 395,277 shares of the industrial products company’s stock valued at $32,235,000 after purchasing an additional 8,259 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in Regal Beloit Corporation by 9.9% in the 2nd quarter. Royal Bank of Canada now owns 564,324 shares of the industrial products company’s stock valued at $46,021,000 after purchasing an additional 50,656 shares in the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

Regal Beloit Corporation (RBC) traded up 0.06% during trading on Tuesday, reaching $78.85. The company’s stock had a trading volume of 26,308 shares. The firm has a 50-day moving average price of $77.07 and a 200-day moving average price of $79.23. Regal Beloit Corporation has a 52 week low of $56.45 and a 52 week high of $87.50. The firm has a market capitalization of $3.52 billion, a P/E ratio of 17.41 and a beta of 1.53.

Regal Beloit Corporation (NYSE:RBC) last posted its quarterly earnings results on Monday, August 7th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.01. The company had revenue of $869.20 million for the quarter, compared to analysts’ expectations of $854.66 million. Regal Beloit Corporation had a return on equity of 9.88% and a net margin of 6.29%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 earnings per share. On average, equities analysts anticipate that Regal Beloit Corporation will post $4.86 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a $0.26 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.04 annualized dividend and a dividend yield of 1.32%. Regal Beloit Corporation’s dividend payout ratio is currently 22.96%.

In other Regal Beloit Corporation news, Director Henry W. Knueppel sold 20,000 shares of the company’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $85.00, for a total value of $1,700,000.00. Following the transaction, the director now owns 3,726 shares of the company’s stock, valued at $316,710. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.20% of the stock is currently owned by corporate insiders.

RBC has been the subject of several research analyst reports. BidaskClub downgraded Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Credit Suisse Group reaffirmed a “buy” rating and issued a $88.00 price objective on shares of Regal Beloit Corporation in a research note on Thursday, June 29th. Wolfe Research initiated coverage on Regal Beloit Corporation in a research note on Tuesday, July 11th. They issued a “market perform” rating for the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Regal Beloit Corporation in a research note on Friday, July 14th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Regal Beloit Corporation in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Regal Beloit Corporation has a consensus rating of “Hold” and an average price target of $86.33.

TRADEMARK VIOLATION NOTICE: This story was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The legal version of this story can be accessed at https://ledgergazette.com/2017/10/10/regal-beloit-corporation-rbc-shares-bought-by-cubist-systematic-strategies-llc.html.

Regal Beloit Corporation Profile

Regal Beloit Corporation is a manufacturer of electric motors, electrical motion controls, power generation and power transmission products. The Company operates through three segments: the Commercial and Industrial Systems segment, with its principal line of business in medium and large electric motors, power generation products, high-performance drives and controls and capacitors; the Climate Solutions segment, with its principal line of business in small motors, controls and air moving products, and the Power Transmission Solutions segment, with its principal line of business in power transmission gearing, hydraulic pump drives, open gearing and specialty mechanical products which control motion and torque.

Institutional Ownership by Quarter for Regal Beloit Corporation (NYSE:RBC)

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