Sei Investments Co. decreased its position in shares of Rexnord Corp (NYSE:RXN) by 15.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 199,371 shares of the industrial products company’s stock after selling 37,300 shares during the quarter. Sei Investments Co. owned approximately 0.19% of Rexnord worth $5,066,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. IndexIQ Advisors LLC boosted its holdings in shares of Rexnord by 499.9% during the 3rd quarter. IndexIQ Advisors LLC now owns 59,523 shares of the industrial products company’s stock valued at $1,513,000 after acquiring an additional 49,601 shares in the last quarter. Chicago Equity Partners LLC bought a new position in Rexnord during the 3rd quarter worth $980,000. Channing Capital Management LLC raised its position in Rexnord by 10.2% during the 3rd quarter. Channing Capital Management LLC now owns 2,379,785 shares of the industrial products company’s stock worth $60,470,000 after purchasing an additional 219,770 shares during the last quarter. NJ State Employees Deferred Compensation Plan raised its position in Rexnord by 33.3% during the 3rd quarter. NJ State Employees Deferred Compensation Plan now owns 20,000 shares of the industrial products company’s stock worth $508,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Parametrica Management Ltd bought a new position in Rexnord during the 3rd quarter worth $212,000.
Several brokerages recently issued reports on RXN. TheStreet lowered Rexnord from a “b-” rating to a “c+” rating in a research report on Wednesday, November 15th. Zacks Investment Research raised Rexnord from a “sell” rating to a “hold” rating in a research report on Monday, October 16th. Oppenheimer reissued a “hold” rating on shares of Rexnord in a research report on Thursday, September 28th. Finally, Robert W. Baird set a $27.00 price objective on Rexnord and gave the stock a “buy” rating in a research report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $27.00.
Shares of Rexnord Corp (NYSE:RXN) traded up $0.01 on Wednesday, hitting $24.93. The stock had a trading volume of 1,556,600 shares, compared to its average volume of 914,534. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.23 and a current ratio of 3.08. The firm has a market cap of $2,590.00, a P/E ratio of 20.94, a PEG ratio of 1.98 and a beta of 1.65. Rexnord Corp has a 12 month low of $19.32 and a 12 month high of $26.24.
Rexnord (NYSE:RXN) last issued its earnings results on Wednesday, November 1st. The industrial products company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The company 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 firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the business posted $0.38 EPS. equities research analysts predict that Rexnord Corp will post 1.26 earnings per share for the current fiscal year.
In other Rexnord news, insider Michael Troutman sold 22,914 shares of Rexnord stock in a transaction dated 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 at the SEC website. 3.50% of the stock is currently owned by insiders.
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Rexnord Company Profile
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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