Squarepoint Ops LLC Takes $1.47 Million Position in Regal Beloit Corp (RBC)

Squarepoint Ops LLC purchased a new stake in shares of Regal Beloit Corp (NYSE:RBC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,009 shares of the industrial products company’s stock, valued at approximately $1,472,000.

Several other institutional investors and hedge funds have also recently modified their holdings of RBC. LSV Asset Management lifted its stake in shares of Regal Beloit by 23.5% during the fourth quarter. LSV Asset Management now owns 1,712,551 shares of the industrial products company’s stock valued at $119,964,000 after acquiring an additional 325,400 shares during the period. Point72 Asset Management L.P. bought a new stake in Regal Beloit in the third quarter valued at about $13,241,000. BlackRock Inc. increased its holdings in Regal Beloit by 3.0% in the fourth quarter. BlackRock Inc. now owns 4,559,846 shares of the industrial products company’s stock valued at $319,416,000 after purchasing an additional 131,813 shares during the last quarter. Morgan Stanley increased its holdings in Regal Beloit by 120.9% in the third quarter. Morgan Stanley now owns 226,691 shares of the industrial products company’s stock valued at $18,691,000 after purchasing an additional 124,057 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Regal Beloit by 303.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 127,011 shares of the industrial products company’s stock valued at $8,896,000 after purchasing an additional 95,500 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

In related news, VP John Avampato sold 2,929 shares of the stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $80.37, for a total transaction of $235,403.73. Following the completion of the transaction, the vice president now directly owns 19,929 shares of the company’s stock, valued at $1,601,693.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Henry W. Knueppel sold 5,742 shares of the stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $84.02, for a total value of $482,442.84. Following the transaction, the director now directly owns 5,466 shares of the company’s stock, valued at $459,253.32. The disclosure for this sale can be found here. Insiders sold 21,862 shares of company stock valued at $1,815,734 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Shares of Regal Beloit stock opened at $83.69 on Tuesday. Regal Beloit Corp has a 1 year low of $66.04 and a 1 year high of $86.75. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 1.27 and a beta of 1.55. The company has a quick ratio of 1.54, a current ratio of 2.66 and a debt-to-equity ratio of 0.56.

Regal Beloit (NYSE:RBC) last announced its quarterly earnings results on Monday, February 4th. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.10. Regal Beloit had a return on equity of 11.18% and a net margin of 6.34%. The company had revenue of $881.70 million during the quarter, compared to the consensus estimate of $864.76 million. During the same period in the prior year, the company earned $1.14 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, research analysts predict that Regal Beloit Corp will post 6.43 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 29th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.12 annualized dividend and a dividend yield of 1.34%. Regal Beloit’s dividend payout ratio (DPR) is currently 18.67%.

RBC has been the subject of a number of recent analyst reports. Royal Bank of Canada downgraded Regal Beloit from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 8th. Wolfe Research downgraded Regal Beloit from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 8th. Oppenheimer downgraded Regal Beloit from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 8th. CIBC reiterated a “market perform” rating on shares of Regal Beloit in a report on Tuesday, January 8th. Finally, Zacks Investment Research downgraded Regal Beloit from a “hold” rating to a “sell” rating in a report on Thursday, January 10th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Regal Beloit currently has a consensus rating of “Hold” and a consensus target price of $90.50.

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Regal Beloit Company Profile

Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and power transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.

See Also: Why is the ex-dividend date different from the record date?

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Institutional Ownership by Quarter for Regal Beloit (NYSE:RBC)

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