Rexnord Corp (RXN) CEO Sells $840,600.00 in Stock

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Rexnord Corp (NYSE:RXN) CEO Todd A. Adams sold 30,000 shares of the company’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $28.02, for a total transaction of $840,600.00. Following the completion of the sale, the chief executive officer now owns 271,792 shares of the company’s stock, valued at approximately $7,615,611.84. The transaction was disclosed in a filing with the SEC, which is available through this link.

Shares of NYSE RXN traded down $0.11 during trading on Thursday, hitting $27.89. The stock had a trading volume of 1,315 shares, compared to its average volume of 669,796. Rexnord Corp has a 12 month low of $21.38 and a 12 month high of $32.11. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.87 and a quick ratio of 1.86. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 0.90 and a beta of 1.59.

Rexnord (NYSE:RXN) last posted its earnings results on Wednesday, January 30th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.07. The firm had revenue of $485.00 million during the quarter, compared to analyst estimates of $487.19 million. Rexnord had a negative net margin of 3.58% and a positive return on equity of 18.32%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 EPS. On average, research analysts anticipate that Rexnord Corp will post 1.81 EPS for the current fiscal year.

Several analysts have recently issued reports on the stock. ValuEngine upgraded shares of Rexnord from a “hold” rating to a “buy” rating in a research note on Friday, November 16th. Zacks Investment Research upgraded shares of Rexnord from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Wednesday, November 21st. Credit Suisse Group reiterated a “neutral” rating and issued a $31.00 target price on shares of Rexnord in a research note on Friday, November 23rd. TheStreet upgraded shares of Rexnord from a “c+” rating to a “b-” rating in a research note on Monday, December 3rd. Finally, Oppenheimer upgraded shares of Rexnord to a “buy” rating and set a $35.00 target price for the company in a research note on Monday, February 4th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Rexnord presently has an average rating of “Hold” and an average target price of $30.88.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Nordea Investment Management AB grew its position in Rexnord by 2.2% during the fourth quarter. Nordea Investment Management AB now owns 234,507 shares of the industrial products company’s stock valued at $5,381,000 after buying an additional 4,951 shares during the period. APG Asset Management N.V. grew its position in Rexnord by 58.3% during the fourth quarter. APG Asset Management N.V. now owns 46,700 shares of the industrial products company’s stock valued at $938,000 after buying an additional 17,200 shares during the period. Amalgamated Bank grew its position in Rexnord by 6.0% during the fourth quarter. Amalgamated Bank now owns 13,960 shares of the industrial products company’s stock valued at $320,000 after buying an additional 788 shares during the period. Millennium Management LLC grew its position in Rexnord by 61.8% during the fourth quarter. Millennium Management LLC now owns 583,889 shares of the industrial products company’s stock valued at $13,400,000 after buying an additional 222,922 shares during the period. Finally, Macquarie Group Ltd. grew its position in Rexnord by 0.6% during the fourth quarter. Macquarie Group Ltd. now owns 1,115,542 shares of the industrial products company’s stock valued at $25,601,000 after buying an additional 6,600 shares during the period.

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About Rexnord

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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