Rexnord Corp (NYSE:RXN) General Counsel Patricia M. Whaley sold 2,354 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $27.59, for a total transaction of $64,946.86. Following the transaction, the general counsel now owns 62,942 shares of the company’s stock, valued at $1,736,569.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of NYSE:RXN traded up $0.11 during trading on Wednesday, hitting $27.88. 311,819 shares of the company were exchanged, compared to its average volume of 700,636. The company has a market capitalization of $2.88 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 1.12 and a beta of 1.56. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.86 and a current ratio of 2.87. Rexnord Corp has a 1-year low of $21.38 and a 1-year high of $32.11.
Rexnord (NYSE:RXN) last announced its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.04. The company had revenue of $537.50 million during the quarter, compared to the consensus estimate of $543.89 million. Rexnord had a net margin of 1.68% and a return on equity of 19.48%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 earnings per share. On average, equities analysts forecast that Rexnord Corp will post 1.98 EPS for the current fiscal year.
Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of Rexnord from a “buy” rating to a “hold” rating in a research report on Tuesday, April 2nd. Oppenheimer upgraded shares of Rexnord to a “buy” rating and set a $35.00 price objective for the company in a research report on Monday, February 4th. Barclays restated a “hold” rating and set a $30.00 price objective on shares of Rexnord in a research report on Friday, February 1st. Finally, Robert W. Baird set a $29.00 price objective on shares of Rexnord and gave the company a “buy” rating in a research report on Friday, January 25th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $30.63.
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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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