30,046 Shares in Regal Beloit Corporation (RBC) Acquired by Laurion Capital Management LP
Laurion Capital Management LP acquired a new position in shares of Regal Beloit Corporation (NYSE:RBC) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 30,046 shares of the industrial products company’s stock, valued at approximately $2,451,000. Laurion Capital Management LP owned approximately 0.07% of Regal Beloit Corporation as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Amalgamated Bank boosted its position in shares of Regal Beloit Corporation by 24.0% during the 2nd quarter. Amalgamated Bank now owns 8,750 shares of the industrial products company’s stock worth $714,000 after acquiring an additional 1,691 shares in the last quarter. BlackRock Inc. boosted its position in shares of Regal Beloit Corporation by 1.2% in the 2nd quarter. BlackRock Inc. now owns 4,089,676 shares of the industrial products company’s stock valued at $333,515,000 after purchasing an additional 47,514 shares during the period. Bridgewater Associates LP acquired a new stake in shares of Regal Beloit Corporation in the 2nd quarter valued at about $248,000. Ameriprise Financial Inc. boosted its position in shares of Regal Beloit Corporation by 41.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 254,232 shares of the industrial products company’s stock valued at $20,715,000 after purchasing an additional 74,425 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its position in shares of Regal Beloit Corporation by 11.1% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 163,990 shares of the industrial products company’s stock valued at $13,373,000 after purchasing an additional 16,447 shares during the period. 92.14% of the stock is owned by institutional investors and hedge funds.
In related news, Director Henry W. Knueppel sold 20,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 3,726 shares of the company’s stock, valued at $316,710. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.20% of the stock is owned by insiders.
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A number of brokerages recently issued reports on RBC. Zacks Investment Research cut Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. BidaskClub cut Regal Beloit Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Stifel Nicolaus reissued a “hold” rating and issued a $85.00 target price on shares of Regal Beloit Corporation in a research report on Tuesday, August 22nd. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $80.00 target price on shares of Regal Beloit Corporation in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $83.00.
Shares of Regal Beloit Corporation (RBC) opened at 78.30 on Wednesday. The firm’s 50-day moving average price is $77.49 and its 200-day moving average price is $78.76. 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 $3.49 billion, a PE ratio of 17.28 and a beta of 1.52.
Regal Beloit Corporation (NYSE:RBC) last announced its quarterly earnings data on Monday, August 7th. The industrial products company reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.01. The firm had revenue of $869.20 million during the quarter, compared to analyst estimates of $854.66 million. Regal Beloit Corporation had a return on equity of 9.88% and a net margin of 6.29%. Regal Beloit Corporation’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.14 earnings per share. On average, equities analysts predict that Regal Beloit Corporation will post $4.86 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.33%. The ex-dividend date is Thursday, September 28th. Regal Beloit Corporation’s dividend payout ratio is currently 22.96%.
Regal Beloit Corporation Company 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.
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