Rexnord Corp (NYSE:RXN) – Equities research analysts at KeyCorp upped their Q4 2019 earnings estimates for Rexnord in a report released on Sunday, April 14th. KeyCorp analyst J. Hammond now expects that the industrial products company will post earnings per share of $0.47 for the quarter, up from their previous estimate of $0.45.
Rexnord (NYSE:RXN) last posted its quarterly earnings results on Wednesday, January 30th. The industrial products company reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.07. The firm had revenue of $485.00 million during the quarter, compared to the consensus estimate of $487.19 million. Rexnord had a positive return on equity of 18.32% and a negative net margin of 3.58%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.37 earnings per share.
RXN stock opened at $27.86 on Wednesday. The company has a quick ratio of 1.86, a current ratio of 2.87 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 0.90 and a beta of 1.52. Rexnord has a twelve month low of $21.38 and a twelve month high of $32.11.
Several hedge funds and other institutional investors have recently modified their holdings of RXN. FMR LLC boosted its stake in shares of Rexnord by 18.7% during the 4th quarter. FMR LLC now owns 8,153,115 shares of the industrial products company’s stock worth $187,114,000 after acquiring an additional 1,285,223 shares during the period. Norges Bank bought a new position in shares of Rexnord during the 4th quarter worth approximately $26,209,000. Glenmede Trust Co. NA boosted its stake in shares of Rexnord by 216,331.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 976,106 shares of the industrial products company’s stock worth $30,063,000 after acquiring an additional 975,655 shares during the period. BlackRock Inc. lifted its holdings in Rexnord by 6.2% during the 4th quarter. BlackRock Inc. now owns 7,862,762 shares of the industrial products company’s stock worth $180,451,000 after purchasing an additional 456,769 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in Rexnord by 13.4% during the 4th quarter. Impax Asset Management Group plc now owns 3,795,391 shares of the industrial products company’s stock worth $87,104,000 after purchasing an additional 449,692 shares during the last quarter.
In other news, CEO Todd A. Adams sold 30,000 shares of Rexnord stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $27.09, for a total transaction of $812,700.00. Following the completion of the transaction, the chief executive officer now directly owns 241,792 shares in the company, valued at approximately $6,550,145.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David C. Longren bought 3,500 shares of Rexnord stock in a transaction dated Friday, February 1st. The shares were acquired at an average price of $26.50 per share, with a total value of $92,750.00. The disclosure for this purchase 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.
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