Rexnord Corp (NYSE:RXN) insider Craig Wehr sold 7,500 shares of the company’s stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $28.99, for a total value of $217,425.00. Following the completion of the transaction, the insider now owns 15,054 shares of the company’s stock, valued at $436,415.46. The transaction was disclosed in a filing with the SEC, which is available at this link.
Craig Wehr also recently made the following trade(s):
- On Friday, November 2nd, Craig Wehr sold 7,500 shares of Rexnord stock. The stock was sold at an average price of $28.50, for a total value of $213,750.00.
RXN stock traded down $0.47 during trading on Friday, hitting $28.98. 15,694 shares of the company traded hands, compared to its average volume of 916,682. The stock has a market capitalization of $3.02 billion, a PE ratio of 20.80, a P/E/G ratio of 1.01 and a beta of 1.48. Rexnord Corp has a 1 year low of $22.89 and a 1 year high of $32.11. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.23 and a quick ratio of 1.50.
Rexnord (NYSE:RXN) last issued its earnings results on Tuesday, October 30th. The industrial products company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. The company had revenue of $524.80 million during the quarter, compared to analysts’ expectations of $516.66 million. Rexnord had a positive return on equity of 16.99% and a negative net margin of 0.89%. Rexnord’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 EPS. Analysts anticipate that Rexnord Corp will post 1.75 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. lifted its holdings in Rexnord by 703.5% in the 3rd quarter. Prudential Financial Inc. now owns 83,810 shares of the industrial products company’s stock worth $2,581,000 after buying an additional 73,380 shares during the period. JPMorgan Chase & Co. raised its position in shares of Rexnord by 10.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 85,370 shares of the industrial products company’s stock worth $2,630,000 after acquiring an additional 7,996 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Rexnord by 1,171.7% in the 3rd quarter. SG Americas Securities LLC now owns 117,837 shares of the industrial products company’s stock worth $3,629,000 after acquiring an additional 108,571 shares in the last quarter. Stone Ridge Asset Management LLC bought a new position in shares of Rexnord in the 3rd quarter worth approximately $326,000. Finally, Crescent Grove Advisors LLC raised its position in shares of Rexnord by 59.7% in the 3rd quarter. Crescent Grove Advisors LLC now owns 269,699 shares of the industrial products company’s stock worth $8,307,000 after acquiring an additional 100,780 shares in the last quarter.
A number of research firms have recently issued reports on RXN. Goldman Sachs Group began coverage on Rexnord in a report on Tuesday, October 2nd. They issued a “neutral” rating and a $31.00 price objective for the company. Oppenheimer upped their price objective on Rexnord from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, October 10th. Bank of America increased their target price on Rexnord from $32.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. KeyCorp increased their target price on Rexnord from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, July 31st. Finally, ValuEngine cut Rexnord from a “buy” rating to a “hold” rating in a report on Thursday, October 18th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Rexnord currently has an average rating of “Buy” and an average target price of $32.71.
Rexnord Company Profile
Rexnord Corporation designs, manufactures, and markets process and motion control, and water management products worldwide. It operates in two segments, Process & Motion Control Platform and Water Management Platform. The company offers table top conveying chain and related accessories, metal conveying and engineered woven metals, gearing and gear drives, conveying equipment, industrial chain, and custom assemblies; custom-engineered, application-specific miniature gearboxes, and motion control assemblies and components used in aerospace, defense, medical equipment, robotics, semiconductor, instrumentation, and satellite communications; and shaft management products, including couplings, torque limiters, electromagnetic clutches and brakes, industrial bearings, and shaft locking assemblies.
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