American Century Companies Inc. Raises Position in Rexnord Corp (RXN)

American Century Companies Inc. increased its position in Rexnord Corp (NYSE:RXN) by 6.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 227,023 shares of the industrial products company’s stock after buying an additional 14,220 shares during the quarter. American Century Companies Inc.’s holdings in Rexnord were worth $6,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of RXN. Wells Fargo & Company MN lifted its holdings in shares of Rexnord by 5.8% during the 3rd quarter. Wells Fargo & Company MN now owns 2,298,609 shares of the industrial products company’s stock valued at $70,798,000 after purchasing an additional 126,340 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of Rexnord during the 3rd quarter valued at about $1,073,000. Sterling Capital Management LLC lifted its holdings in shares of Rexnord by 12.3% during the 3rd quarter. Sterling Capital Management LLC now owns 109,226 shares of the industrial products company’s stock valued at $3,364,000 after purchasing an additional 11,934 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Rexnord by 372.5% during the 3rd quarter. US Bancorp DE now owns 42,110 shares of the industrial products company’s stock valued at $1,297,000 after purchasing an additional 33,197 shares in the last quarter. Finally, Moody National Bank Trust Division lifted its holdings in shares of Rexnord by 1,009.7% during the 3rd quarter. Moody National Bank Trust Division now owns 132,390 shares of the industrial products company’s stock valued at $4,077,000 after purchasing an additional 120,460 shares in the last quarter.

Several research firms have recently weighed in on RXN. TheStreet cut Rexnord from a “b” rating to a “c+” rating in a report on Thursday, October 25th. Oppenheimer reiterated a “buy” rating and set a $35.00 price objective on shares of Rexnord in a report on Monday, July 30th. KeyCorp lifted their price objective on Rexnord from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, July 31st. ValuEngine cut Rexnord from a “buy” rating to a “hold” rating in a report on Thursday, October 18th. Finally, Zacks Investment Research cut Rexnord from a “buy” rating to a “hold” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $32.71.

NYSE RXN opened at $27.75 on Friday. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 0.96 and a beta of 1.48. The company has a current ratio of 2.23, a quick ratio of 1.50 and a debt-to-equity ratio of 1.17. Rexnord Corp has a 52 week low of $23.75 and a 52 week high of $32.11.

Rexnord (NYSE:RXN) last released its earnings results on Tuesday, October 30th. The industrial products company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.04. The firm had revenue of $524.80 million for the quarter, compared to analysts’ expectations of $516.66 million. Rexnord had a positive return on equity of 16.99% and a negative net margin of 0.89%. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 EPS. As a group, equities analysts expect that Rexnord Corp will post 1.75 EPS for the current year.

In other news, Director Theodore D. Crandall bought 4,000 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were purchased at an average price of $27.84 per share, for a total transaction of $111,360.00. Following the purchase, the director now owns 20,330 shares of the company’s stock, valued at approximately $565,987.20. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Craig Wehr sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $28.99, for a total value of $217,425.00. Following the completion of the sale, the insider now owns 15,054 shares in the company, valued at approximately $436,415.46. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.

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Rexnord Company Profile

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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Institutional Ownership by Quarter for Rexnord (NYSE:RXN)

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