Segall Bryant & Hamill LLC purchased a new position in shares of Regal Beloit Corp (NYSE:RBC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 182,974 shares of the industrial products company’s stock, valued at approximately $14,967,000. Segall Bryant & Hamill LLC owned 0.42% of Regal Beloit as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of RBC. Balter Liquid Alternatives LLC acquired a new stake in shares of Regal Beloit in the second quarter worth $356,000. Dean Investment Associates LLC increased its position in shares of Regal Beloit by 6.8% in the second quarter. Dean Investment Associates LLC now owns 138,577 shares of the industrial products company’s stock worth $11,336,000 after acquiring an additional 8,860 shares in the last quarter. Systematic Financial Management LP increased its position in shares of Regal Beloit by 13.6% in the second quarter. Systematic Financial Management LP now owns 262,336 shares of the industrial products company’s stock worth $21,459,000 after acquiring an additional 31,421 shares in the last quarter. LSV Asset Management increased its position in shares of Regal Beloit by 49.5% in the second quarter. LSV Asset Management now owns 1,196,945 shares of the industrial products company’s stock worth $97,910,000 after acquiring an additional 396,237 shares in the last quarter. Finally, Polaris Capital Management LLC acquired a new stake in shares of Regal Beloit in the second quarter worth $2,560,000. 93.83% of the stock is currently owned by institutional investors.
Several research firms have recently issued reports on RBC. Zacks Investment Research lowered shares of Regal Beloit from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 10th. BMO Capital Markets increased their price objective on shares of Regal Beloit from $89.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 8th. Finally, Wolfe Research began coverage on shares of Regal Beloit in a research report on Wednesday, June 27th. They issued an “outperform” rating and a $97.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $88.60.
In related news, Director Christopher L. Doerr sold 6,085 shares of the firm’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $81.43, for a total transaction of $495,501.55. Following the completion of the sale, the director now directly owns 17,900 shares of the company’s stock, valued at approximately $1,457,597. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.30% of the stock is currently owned by company insiders.
RBC opened at $82.65 on Friday. The firm has a market cap of $3.50 billion, a P/E ratio of 16.97, a PEG ratio of 1.36 and a beta of 1.51. Regal Beloit Corp has a twelve month low of $67.84 and a twelve month high of $86.65. The company has a quick ratio of 1.22, a current ratio of 2.24 and a debt-to-equity ratio of 0.53.
Regal Beloit (NYSE:RBC) last released its quarterly earnings results on Monday, August 6th. The industrial products company reported $1.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.01. The business had revenue of $959.70 million during the quarter, compared to analyst estimates of $953.65 million. Regal Beloit had a net margin of 6.77% and a return on equity of 10.30%. The business’s revenue was up 10.4% on a year-over-year basis. During the same period last year, the business earned $1.29 EPS. equities analysts forecast that Regal Beloit Corp will post 5.92 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Friday, September 28th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Thursday, September 27th. Regal Beloit’s payout ratio is 23.00%.
Regal Beloit Company Profile
Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and power transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.
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