Chiron Investment Management LLC Reduces Stake in Rexnord Corp (RXN)

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Chiron Investment Management LLC lessened its holdings in shares of Rexnord Corp (NYSE:RXN) by 31.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,611 shares of the industrial products company’s stock after selling 2,100 shares during the period. Chiron Investment Management LLC’s holdings in Rexnord were worth $106,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in RXN. AdvisorNet Financial Inc bought a new position in Rexnord in the 4th quarter worth about $25,000. NumerixS Investment Technologies Inc bought a new position in Rexnord in the 4th quarter worth about $25,000. Essex Investment Management Co. LLC bought a new position in Rexnord in the 4th quarter worth about $43,000. Quantamental Technologies LLC bought a new position in Rexnord in the 4th quarter worth about $73,000. Finally, Ibex Investors LLC bought a new position in Rexnord in the 4th quarter worth about $215,000.

In other Rexnord news, Director David C. Longren purchased 3,500 shares of Rexnord stock in a transaction dated Friday, February 1st. The stock was purchased at an average price of $26.50 per share, with a total value of $92,750.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Todd A. Adams sold 30,000 shares of the company’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $28.02, for a total transaction of $840,600.00. Following the sale, the chief executive officer now directly owns 271,792 shares of the company’s stock, valued at approximately $7,615,611.84. The disclosure for this sale can be found here. 4.50% of the stock is owned by corporate insiders.

Separately, Zacks Investment Research upgraded shares of Rexnord from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Monday, December 17th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $30.88.

Shares of Rexnord stock opened at $26.94 on Friday. The company has a current ratio of 2.87, a quick ratio of 1.86 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $2.82 billion, a P/E ratio of 19.38, a PEG ratio of 0.87 and a beta of 1.53. Rexnord Corp has a 1 year low of $21.38 and a 1 year high of $32.11.

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, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.07. The business had revenue of $485.00 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.37 EPS. As a group, analysts expect that Rexnord Corp will post 1.81 earnings per share for the current fiscal year.

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Rexnord 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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Institutional Ownership by Quarter for Rexnord (NYSE:RXN)

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