Rexnord Corporation (RXN) Insider Sells $553,373.10 in Stock

Rexnord Corporation (NYSE:RXN) insider Michael Troutman sold 22,914 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $24.15, for a total value of $553,373.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Michael Troutman also recently made the following trade(s):

  • On Wednesday, September 6th, Michael Troutman sold 128 shares of Rexnord Corporation stock. The shares were sold at an average price of $23.73, for a total value of $3,037.44.

Shares of Rexnord Corporation (RXN) traded up 1.38% during midday trading on Tuesday, hitting $24.94. The company’s stock had a trading volume of 431,863 shares. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 37.79 and a beta of 1.68. Rexnord Corporation has a 12-month low of $15.80 and a 12-month high of $25.50. The firm has a 50-day moving average of $23.91 and a 200 day moving average of $23.42.

Rexnord Corporation (NYSE:RXN) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. Rexnord Corporation had a return on equity of 14.27% and a net margin of 4.22%. The business had revenue of $487.70 million during the quarter, compared to analyst estimates of $484.20 million. During the same period last year, the business posted $0.35 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities research analysts predict that Rexnord Corporation will post $1.27 EPS for the current fiscal year.

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RXN has been the subject of a number of recent analyst reports. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Rexnord Corporation in a report on Thursday, May 18th. TheStreet upgraded Rexnord Corporation from a “c+” rating to a “b” rating in a report on Wednesday, May 17th. Zacks Investment Research upgraded Rexnord Corporation from a “sell” rating to a “hold” rating in a report on Monday, May 22nd. BidaskClub upgraded Rexnord Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Janney Montgomery Scott started coverage on Rexnord Corporation in a report on Friday, July 21st. They issued a “buy” rating and a $27.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Rexnord Corporation currently has an average rating of “Hold” and a consensus price target of $26.00.

A number of large investors have recently added to or reduced their stakes in the stock. Verition Fund Management LLC boosted its holdings in Rexnord Corporation by 3.2% in the second quarter. Verition Fund Management LLC now owns 20,939 shares of the industrial products company’s stock valued at $487,000 after purchasing an additional 641 shares during the period. California Public Employees Retirement System boosted its holdings in Rexnord Corporation by 0.3% in the second quarter. California Public Employees Retirement System now owns 230,400 shares of the industrial products company’s stock valued at $5,357,000 after purchasing an additional 800 shares during the period. Aperio Group LLC boosted its holdings in Rexnord Corporation by 11.9% in the second quarter. Aperio Group LLC now owns 9,774 shares of the industrial products company’s stock valued at $227,000 after purchasing an additional 1,043 shares during the period. Alambic Investment Management L.P. boosted its holdings in Rexnord Corporation by 12.9% in the first quarter. Alambic Investment Management L.P. now owns 11,400 shares of the industrial products company’s stock valued at $263,000 after purchasing an additional 1,300 shares during the period. Finally, Perigon Wealth Management LLC boosted its holdings in Rexnord Corporation by 14.2% in the first quarter. Perigon Wealth Management LLC now owns 10,589 shares of the industrial products company’s stock valued at $244,000 after purchasing an additional 1,320 shares during the period.

About Rexnord Corporation

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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