Regal Beloit Corporation (RBC) Shares Bought by Cornerstone Capital Management Holdings LLC.
Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Regal Beloit Corporation (NYSE:RBC) by 54.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 148,337 shares of the industrial products company’s stock after acquiring an additional 52,430 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned approximately 0.33% of Regal Beloit worth $11,717,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Pinebridge Investments L.P. acquired a new position in Regal Beloit during the 3rd quarter valued at about $204,000. Synovus Financial Corp lifted its position in Regal Beloit by 4.4% during the 2nd quarter. Synovus Financial Corp now owns 2,607 shares of the industrial products company’s stock valued at $209,000 after purchasing an additional 110 shares during the period. Airain ltd acquired a new stake in shares of Regal Beloit in the 2nd quarter valued at approximately $224,000. M&T Bank Corp acquired a new stake in shares of Regal Beloit in the 2nd quarter valued at approximately $237,000. Finally, Bridgewater Associates LP acquired a new stake in shares of Regal Beloit in the 2nd quarter valued at approximately $248,000. 93.86% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Regal Beloit Corporation (NYSE:RBC) traded down $0.70 on Tuesday, hitting $75.60. 236,500 shares of the stock traded hands, compared to its average volume of 249,153. Regal Beloit Corporation has a one year low of $68.30 and a one year high of $87.50. The company has a quick ratio of 1.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.48. The company has a market cap of $3,380.40, a PE ratio of 16.00, a P/E/G ratio of 1.42 and a beta of 1.48.
Regal Beloit (NYSE:RBC) last released its earnings results on Monday, November 6th. The industrial products company reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.01). Regal Beloit had a net margin of 6.28% and a return on equity of 9.76%. The firm had revenue of $857.00 million during the quarter, compared to the consensus estimate of $837.19 million. During the same period in the prior year, the business posted $1.31 earnings per share. Regal Beloit’s quarterly revenue was up 5.9% compared to the same quarter last year. equities research analysts forecast that Regal Beloit Corporation will post 4.88 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.04 annualized dividend and a dividend yield of 1.38%. Regal Beloit’s dividend payout ratio is presently 22.61%.
A number of analysts recently issued reports on RBC shares. Royal Bank of Canada reissued a “buy” rating on shares of Regal Beloit in a research note on Monday, November 6th. Robert W. Baird reissued a “buy” rating and set a $88.00 target price on shares of Regal Beloit in a research note on Wednesday, October 4th. Morgan Stanley increased their target price on Regal Beloit from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Monday, October 2nd. BMO Capital Markets lowered their target price on Regal Beloit from $88.00 to $85.00 and set a “market perform” rating for the company in a research note on Tuesday, November 7th. Finally, BidaskClub cut Regal Beloit from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $86.63.
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Regal Beloit 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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