CoreCommodity Management LLC decreased its holdings in Rexnord Corp (NYSE:RXN) by 18.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,015 shares of the industrial products company’s stock after selling 15,205 shares during the quarter. Rexnord comprises approximately 1.3% of CoreCommodity Management LLC’s portfolio, making the stock its 17th biggest holding. CoreCommodity Management LLC owned about 0.07% of Rexnord worth $1,584,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in RXN. AdvisorNet Financial Inc purchased a new position in Rexnord in the fourth quarter worth $25,000. NumerixS Investment Technologies Inc purchased a new position in Rexnord in the fourth quarter worth $25,000. Essex Investment Management Co. LLC purchased a new position in Rexnord in the fourth quarter worth $43,000. Quantamental Technologies LLC purchased a new position in Rexnord in the fourth quarter worth $73,000. Finally, Ibex Investors LLC purchased a new position in Rexnord in the fourth quarter worth $215,000.
RXN has been the subject of several research analyst reports. Oppenheimer upgraded Rexnord to a “buy” rating and set a $35.00 price objective for the company in a research report on Monday, February 4th. Robert W. Baird set a $29.00 target price on Rexnord and gave the company a “buy” rating in a report on Friday, January 25th. Credit Suisse Group reissued a “neutral” rating and issued a $25.00 target price (down previously from $31.00) on shares of Rexnord in a report on Thursday, January 3rd. TheStreet raised Rexnord from a “c+” rating to a “b-” rating in a report on Monday, December 3rd. Finally, Zacks Investment Research lowered Rexnord from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $30.88.
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 firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 0.87 and a beta of 1.53. Rexnord Corp has a fifty-two week low of $21.38 and a fifty-two week high of $32.11.
Rexnord (NYSE:RXN) last released its quarterly earnings data on Wednesday, January 30th. The industrial products company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. Rexnord had a positive return on equity of 18.32% and a negative net margin of 3.58%. The company had revenue of $485.00 million for the quarter, compared to the consensus estimate of $487.19 million. During the same period last year, the business posted $0.37 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts predict that Rexnord Corp will post 1.81 EPS for the current year.
In other Rexnord news, Director David C. Longren acquired 3,500 shares of the stock in a transaction on Friday, February 1st. The stock was purchased at an average price of $26.50 per share, for a total transaction of $92,750.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Todd A. Adams sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $28.02, for a total value of $840,600.00. Following the sale, the chief executive officer now 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 company insiders.
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.
Featured Article: Current Ratio
Want to see what other hedge funds are holding RXN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rexnord Corp (NYSE:RXN).
Receive News & Ratings for Rexnord Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexnord and related companies with MarketBeat.com's FREE daily email newsletter.