Rexnord Corp (NYSE:RXN) Shares Bought by ClariVest Asset Management LLC

ClariVest Asset Management LLC boosted its holdings in shares of Rexnord Corp (NYSE:RXN) by 3.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,600 shares of the industrial products company’s stock after purchasing an additional 2,700 shares during the period. ClariVest Asset Management LLC’s holdings in Rexnord were worth $2,051,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Amalgamated Bank increased its holdings in Rexnord by 6.0% during the 4th quarter. Amalgamated Bank now owns 13,960 shares of the industrial products company’s stock valued at $320,000 after purchasing an additional 788 shares during the period. AdvisorNet Financial Inc bought a new stake in Rexnord during the 4th quarter valued at approximately $25,000. NumerixS Investment Technologies Inc bought a new stake in Rexnord during the 4th quarter valued at approximately $25,000. Stone Ridge Asset Management LLC boosted its position in Rexnord by 14.2% during the 4th quarter. Stone Ridge Asset Management LLC now owns 12,098 shares of the industrial products company’s stock valued at $278,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Essex Investment Management Co. LLC bought a new stake in Rexnord during the 4th quarter valued at approximately $43,000.

Rexnord stock opened at $28.74 on Friday. The company has a current ratio of 2.48, a quick ratio of 1.68 and a debt-to-equity ratio of 1.00. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 1.61 and a beta of 1.54. Rexnord Corp has a fifty-two week low of $21.38 and a fifty-two week high of $32.11.

Rexnord (NYSE:RXN) last posted its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.04. The business had revenue of $537.50 million for the quarter, compared to analysts’ expectations of $543.89 million. Rexnord had a return on equity of 19.22% and a net margin of 1.68%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 EPS. As a group, analysts forecast that Rexnord Corp will post 1.95 earnings per share for the current year.

In other news, CEO Todd A. Adams sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $28.00, for a total value of $840,000.00. Following the sale, the chief executive officer now directly owns 211,792 shares of the company’s stock, valued at approximately $5,930,176. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Todd A. Adams sold 104,231 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $27.59, for a total value of $2,875,733.29. Following the completion of the sale, the chief executive officer now directly owns 272,883 shares in the company, valued at $7,528,841.97. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 334,621 shares of company stock worth $9,284,075. Insiders own 4.50% of the company’s stock.

Separately, Zacks Investment Research raised Rexnord from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $30.63.

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Rexnord Company Profile

Rexnord Corp. engages in the manufacture of engineered power transmission, aerospace, and other precision motion technology products. It operates through the Process and Motion Control, and Water Management segments. The Process and Motion Control segment designs, manufactures and markets engineered mechanical components such as gears, couplings, industrial, aerospace bearings, and seals which are used within complex systems.

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Institutional Ownership by Quarter for Rexnord (NYSE:RXN)

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