Regal Beloit Corp. (NYSE:RBC) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 532,636 shares, a decrease of 32.7% from the August 15th total of 791,278 shares. Currently, 1.2% of the shares of the stock are sold short. Based on an average trading volume of 314,424 shares, the short-interest ratio is currently 1.7 days.
Regal Beloit Corp. (NYSE:RBC) opened at 58.72 on Friday. The company has a 50-day moving average of $61.04 and a 200 day moving average of $60.24. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 18.53 and a beta of 1.69. Regal Beloit Corp. has a 12-month low of $47.77 and a 12-month high of $68.45.
Regal Beloit Corp. (NYSE:RBC) last issued its quarterly earnings results on Monday, August 8th. The company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.24 by $0.10. Regal Beloit Corp. had a return on equity of 10.35% and a net margin of 4.30%. The business earned $838.60 million during the quarter, compared to the consensus estimate of $857.88 million. During the same quarter last year, the firm posted $1.53 earnings per share. Regal Beloit Corp.’s revenue was down 11.0% compared to the same quarter last year. Equities analysts anticipate that Regal Beloit Corp. will post $4.39 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Wednesday, September 28th. Regal Beloit Corp.’s dividend payout ratio (DPR) is presently 30.28%.
RBC has been the topic of a number of research reports. Credit Suisse Group AG reissued a “buy” rating and issued a $63.00 price objective on shares of Regal Beloit Corp. in a research note on Tuesday, August 9th. Zacks Investment Research raised shares of Regal Beloit Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 23rd. TheStreet raised shares of Regal Beloit Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, August 18th. Jefferies Group reaffirmed a “hold” rating on shares of Regal Beloit Corp. in a research note on Friday, July 1st. Finally, BMO Capital Markets cut shares of Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $76.00 to $66.00 in a research note on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $64.25.
In related news, VP Terry R. Colvin sold 1,615 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $62.47, for a total value of $100,889.05. Following the sale, the vice president now directly owns 21,146 shares of the company’s stock, valued at approximately $1,320,990.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake in shares of Regal Beloit Corp. by 1,443.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,898 shares of the company’s stock valued at $105,000 after buying an additional 1,775 shares during the period. LS Investment Advisors LLC boosted its stake in shares of Regal Beloit Corp. by 72.7% in the second quarter. LS Investment Advisors LLC now owns 2,730 shares of the company’s stock valued at $150,000 after buying an additional 1,149 shares during the period. Acrospire Investment Management LLC acquired a new stake in shares of Regal Beloit Corp. during the first quarter valued at approximately $196,000. Envestnet Asset Management Inc. boosted its stake in shares of Regal Beloit Corp. by 32.0% in the first quarter. Envestnet Asset Management Inc. now owns 3,111 shares of the company’s stock valued at $196,000 after buying an additional 755 shares during the period. Finally, American Financial Group Inc. acquired a new stake in shares of Regal Beloit Corp. during the first quarter valued at approximately $200,000. Hedge funds and other institutional investors own 95.95% of the company’s stock.
Regal Beloit Corp. Company Profile
Regal Beloit Corporation is a manufacturer of electric motors and controls, electric generators and controls, and power transmission products. The Company operates through three segments: Commercial and Industrial Systems, Climate Solutions and Power Transmission Solutions. Its Commercial and Industrial Systems segment produces medium and large motors, commercial and industrial equipment, generator and custom drives and systems serving commercial heating, ventilation and air conditioning (HVAC), and power and oil and gas systems.
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