Dimensional Fund Advisors LP Acquires 354,976 Shares of Regal Beloit Corp. (RBC)
Dimensional Fund Advisors LP raised its position in Regal Beloit Corp. (NYSE:RBC) by 23.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,890,545 shares of the company’s stock after buying an additional 354,976 shares during the period. Dimensional Fund Advisors LP owned approximately 4.23% of Regal Beloit Corp. worth $104,067,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of RBC. LS Investment Advisors LLC increased its position in shares of Regal Beloit Corp. by 72.7% in the second quarter. LS Investment Advisors LLC now owns 2,730 shares of the company’s stock worth $150,000 after buying an additional 1,149 shares during the last quarter. Acrospire Investment Management LLC increased its position in shares of Regal Beloit Corp. by 9.7% in the second quarter. Acrospire Investment Management LLC now owns 3,400 shares of the company’s stock worth $187,000 after buying an additional 300 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Regal Beloit Corp. by 32.0% in the first quarter. Envestnet Asset Management Inc. now owns 3,111 shares of the company’s stock worth $196,000 after buying an additional 755 shares during the last quarter. American Financial Group Inc. purchased a new position in shares of Regal Beloit Corp. during the first quarter worth approximately $200,000. Finally, Genesee Valley Trust Co. increased its position in shares of Regal Beloit Corp. by 3.0% in the second quarter. Genesee Valley Trust Co. now owns 3,733 shares of the company’s stock worth $206,000 after buying an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.
Regal Beloit Corp. (NYSE:RBC) traded up 0.201% during trading on Tuesday, reaching $57.355. 42,083 shares of the company’s stock traded hands. The stock has a market capitalization of $2.57 billion, a P/E ratio of 18.099 and a beta of 1.69. The company has a 50-day moving average of $61.16 and a 200 day moving average of $60.29. Regal Beloit Corp. has a 12 month low of $47.77 and a 12 month high of $68.45.
Regal Beloit Corp. (NYSE:RBC) last posted its quarterly earnings data on Monday, August 8th. The company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.24 by $0.10. Regal Beloit Corp. had a net margin of 4.30% and a return on equity of 10.35%. The business earned $838.60 million during the quarter, compared to the consensus estimate of $857.88 million. During the same period in the prior year, the company posted $1.53 earnings per share. The firm’s revenue was down 11.0% compared to the same quarter last year. On average, equities research analysts expect that Regal Beloit Corp. will post $4.39 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.96 annualized dividend and a dividend yield of 1.68%. Regal Beloit Corp.’s dividend payout ratio is 30.28%.
RBC has been the subject of a number of analyst reports. TheStreet upgraded shares of Regal Beloit Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, August 18th. Credit Suisse Group AG restated a “buy” rating and set a $63.00 price objective on shares of Regal Beloit Corp. in a research report on Tuesday, August 9th. Zacks Investment Research upgraded shares of Regal Beloit Corp. from a “sell” rating to a “hold” rating in a research report on Monday. Jefferies Group restated a “hold” rating on shares of Regal Beloit Corp. in a research report on Friday, July 1st. Finally, BMO Capital Markets downgraded shares of Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $76.00 to $66.00 in a research report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $64.25.
In other news, VP Terry R. Colvin sold 1,615 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $62.47, for a total value of $100,889.05. Following the completion of the sale, the vice president now directly owns 21,146 shares of the company’s stock, valued at $1,320,990.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is owned by insiders.
Regal Beloit Corp. Company Profile
Regal Beloit Corporation is a manufacturer of electric motors and controls, electric generators and controls, and power transmission products. The Company operates through three segments: Commercial and Industrial Systems, Climate Solutions and Power Transmission Solutions. Its Commercial and Industrial Systems segment produces medium and large motors, commercial and industrial equipment, generator and custom drives and systems serving commercial heating, ventilation and air conditioning (HVAC), and power and oil and gas systems.
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