Dimensional Fund Advisors LP boosted its stake in Rexnord Corp. (NYSE:RXN) by 11.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,218,642 shares of the company’s stock after buying an additional 220,598 shares during the period. Dimensional Fund Advisors LP owned approximately 2.16% of Rexnord Corp. worth $43,551,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of RXN. Fox Run Management L.L.C. boosted its position in Rexnord Corp. by 2.3% in the second quarter. Fox Run Management L.L.C. now owns 17,900 shares of the company’s stock valued at $351,000 after buying an additional 400 shares in the last quarter. California Public Employees Retirement System raised its stake in Rexnord Corp. by 0.3% in the second quarter. California Public Employees Retirement System now owns 242,800 shares of the company’s stock valued at $4,766,000 after buying an additional 800 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Rexnord Corp. by 2.0% in the second quarter. UBS Asset Management Americas Inc. now owns 84,882 shares of the company’s stock valued at $1,666,000 after buying an additional 1,638 shares during the last quarter. Teacher Retirement System of Texas raised its stake in Rexnord Corp. by 14.8% in the second quarter. Teacher Retirement System of Texas now owns 14,143 shares of the company’s stock valued at $278,000 after buying an additional 1,828 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in Rexnord Corp. by 3.6% in the second quarter. Nordea Investment Management AB now owns 84,919 shares of the company’s stock valued at $1,667,000 after buying an additional 2,975 shares during the last quarter. 97.01% of the stock is owned by institutional investors.
Shares of Rexnord Corp. (NYSE:RXN) opened at 19.18 on Friday. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 30.16 and a beta of 1.57. Rexnord Corp. has a 1-year low of $14.04 and a 1-year high of $22.97. The firm has a 50-day moving average price of $20.84 and a 200 day moving average price of $20.91.
Rexnord Corp. (NYSE:RXN) last issued its earnings results on Monday, August 1st. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The company earned $472 million during the quarter, compared to the consensus estimate of $459.57 million. Rexnord Corp. had a return on equity of 25.62% and a net margin of 3.43%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the business posted $0.30 EPS. On average, analysts predict that Rexnord Corp. will post $1.51 EPS for the current fiscal year.
Several analysts recently issued reports on the company. Credit Suisse Group AG reiterated a “buy” rating on shares of Rexnord Corp. in a report on Saturday, July 9th. Barclays PLC upped their target price on Rexnord Corp. from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Monday, July 18th. Finally, Robert W. Baird lowered Rexnord Corp. from an “outperform” rating to a “neutral” rating and set a $22.00 target price on the stock. in a report on Thursday, June 23rd. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $23.14.
In other news, Director David C. Longren bought 2,000 shares of Rexnord Corp. stock in a transaction dated Thursday, August 11th. The stock was bought at an average cost of $21.39 per share, for a total transaction of $42,780.00. Following the purchase, the director now directly owns 8,467 shares in the company, valued at approximately $181,109.13. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is owned by 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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