Dimensional Fund Advisors LP Raises Position in Rexnord Corp (RXN)
Dimensional Fund Advisors LP increased its stake in Rexnord Corp (NYSE:RXN) by 1.5% during the fourth quarter, Holdings Channel reports. The firm owned 2,359,204 shares of the company’s stock after buying an additional 34,467 shares during the period. Dimensional Fund Advisors LP’s holdings in Rexnord Corp were worth $46,217,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the company. Airain ltd bought a new stake in shares of Rexnord Corp during the third quarter valued at about $233,000. SG Americas Securities LLC acquired a new position in shares of Rexnord Corp during the third quarter worth about $351,000. Virginia Retirement Systems ET AL acquired a new position in shares of Rexnord Corp during the third quarter worth about $460,000. New Jersey Better Educational Savings Trust increased its position in shares of Rexnord Corp by 50.0% in the third quarter. New Jersey Better Educational Savings Trust now owns 30,000 shares of the company’s stock worth $642,000 after buying an additional 10,000 shares during the period. Finally, Sunnymeath Asset Management Inc. acquired a new position in shares of Rexnord Corp during the third quarter worth about $502,000. Institutional investors and hedge funds own 94.97% of the company’s stock.
Rexnord Corp (NYSE:RXN) opened at 23.99 on Tuesday. The firm has a 50-day moving average price of $22.66 and a 200-day moving average price of $21.03. The company has a market cap of $2.48 billion, a P/E ratio of 56.05 and a beta of 1.62. Rexnord Corp has a 52 week low of $15.80 and a 52 week high of $24.55.
Rexnord Corp (NYSE:RXN) last announced its quarterly earnings data on Wednesday, February 1st. The company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The company earned $452 million during the quarter, compared to analyst estimates of $456.63 million. Rexnord Corp had a net margin of 2.43% and a return on equity of 19.52%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the business earned $0.38 EPS. Equities research analysts anticipate that Rexnord Corp will post $1.30 EPS for the current fiscal year.
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A number of research analysts have issued reports on RXN shares. KeyCorp upped their price objective on Rexnord Corp from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Tuesday, November 29th. Zacks Investment Research downgraded Rexnord Corp from a “hold” rating to a “strong sell” rating in a research note on Thursday, December 8th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $24.00.
In other news, CEO Todd A. Adams sold 32,925 shares of the firm’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $22.35, for a total value of $735,873.75. Following the transaction, the chief executive officer now directly owns 124,200 shares in the company, valued at approximately $2,775,870. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.40% of the stock is owned by company insiders.
About Rexnord Corp
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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