18,191 Shares in Rexnord Corp. (RXN) Acquired by LMR Partners LLP
LMR Partners LLP bought a new position in Rexnord Corp. (NYSE:RXN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 18,191 shares of the company’s stock, valued at approximately $357,000.
Other institutional investors have also recently modified their holdings of the company. RS Investment Management Co. LLC purchased a new position in shares of Rexnord Corp. during the second quarter worth approximately $16,110,000. JPMorgan Chase & Co. increased its position in shares of Rexnord Corp. by 7.8% in the first quarter. JPMorgan Chase & Co. now owns 8,176,033 shares of the company’s stock worth $165,320,000 after buying an additional 591,490 shares during the period. Barclays PLC increased its position in shares of Rexnord Corp. by 292.1% in the first quarter. Barclays PLC now owns 263,689 shares of the company’s stock worth $5,274,000 after buying an additional 196,441 shares during the period. Wellington Management Group LLP increased its position in shares of Rexnord Corp. by 61.9% in the first quarter. Wellington Management Group LLP now owns 447,650 shares of the company’s stock worth $9,051,000 after buying an additional 171,145 shares during the period. Finally, Boothbay Fund Management LLC purchased a new position in shares of Rexnord Corp. during the first quarter worth approximately $1,085,000. 97.01% of the stock is currently owned by institutional investors.
Shares of Rexnord Corp. (NYSE:RXN) traded down 2.93% on Thursday, hitting $19.19. 398,502 shares of the company were exchanged. The company has a 50-day moving average price of $20.99 and a 200 day moving average price of $20.92. Rexnord Corp. has a 52-week low of $14.04 and a 52-week high of $22.97. The firm has a market cap of $1.97 billion, a P/E ratio of 30.17 and a beta of 1.57.
Rexnord Corp. (NYSE:RXN) last released its quarterly earnings results on Monday, August 1st. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.05. Rexnord Corp. had a net margin of 3.43% and a return on equity of 25.62%. The company had revenue of $472 million for the quarter, compared to analysts’ expectations of $459.57 million. During the same period last year, the company earned $0.30 EPS. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. Analysts predict that Rexnord Corp. will post $1.51 EPS for the current fiscal year.
RXN has been the topic of a number of research analyst reports. Credit Suisse Group AG reissued a “buy” rating on shares of Rexnord Corp. in a research note on Saturday, July 9th. Barclays PLC boosted their price target on shares of Rexnord Corp. from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Monday, July 18th. Finally, Robert W. Baird downgraded shares of Rexnord Corp. from an “outperform” rating to a “neutral” rating and set a $22.00 price target on the stock. in a research note on Thursday, June 23rd. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $23.14.
In other news, Director David C. Longren purchased 2,000 shares of the firm’s stock in a transaction on Thursday, August 11th. The shares were bought at an average cost of $21.39 per share, with a total value of $42,780.00. Following the purchase, the director now directly owns 8,467 shares of the company’s stock, valued at $181,109.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.40% of the company’s stock.
About Rexnord Corp.
Rexnord Corporation is a multi-platform industrial company. The Company operates through two segments: Process & Motion Control platform, and Water Management platform. The Process & Motion Control platform designs, manufactures, markets and services a range of engineered mechanical components used within systems.
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