Campbell & CO Investment Adviser LLC Makes New Investment in Rexnord Corp (NYSE:RXN)

Campbell & CO Investment Adviser LLC purchased a new position in shares of Rexnord Corp (NYSE:RXN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,765 shares of the industrial products company’s stock, valued at approximately $262,000.

Several other institutional investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its position in Rexnord by 0.5% during the second quarter. Envestnet Asset Management Inc. now owns 73,879 shares of the industrial products company’s stock worth $2,154,000 after acquiring an additional 387 shares during the period. Advisor Group Holdings Inc. lifted its stake in shares of Rexnord by 6.6% in the second quarter. Advisor Group Holdings Inc. now owns 7,685 shares of the industrial products company’s stock valued at $225,000 after buying an additional 474 shares during the period. California Public Employees Retirement System grew its position in Rexnord by 0.4% during the second quarter. California Public Employees Retirement System now owns 238,633 shares of the industrial products company’s stock worth $6,956,000 after buying an additional 884 shares in the last quarter. Sit Investment Associates Inc. grew its position in Rexnord by 4.0% during the second quarter. Sit Investment Associates Inc. now owns 31,375 shares of the industrial products company’s stock worth $915,000 after buying an additional 1,200 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in Rexnord by 17.6% during the second quarter. Great West Life Assurance Co. Can now owns 8,650 shares of the industrial products company’s stock valued at $251,000 after acquiring an additional 1,293 shares during the period. Institutional investors and hedge funds own 99.68% of the company’s stock.

Shares of NYSE RXN opened at $32.08 on Friday. Rexnord Corp has a 52-week low of $18.87 and a 52-week high of $35.64. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.65 and a current ratio of 2.52. The business has a fifty day moving average of $30.17 and a two-hundred day moving average of $28.54. The stock has a market cap of $3.85 billion, a PE ratio of 23.42, a PEG ratio of 2.74 and a beta of 1.54.

Rexnord (NYSE:RXN) last announced its earnings results on Tuesday, July 28th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.09. The business had revenue of $449.10 million during the quarter, compared to analysts’ expectations of $427.35 million. Rexnord had a net margin of 8.42% and a return on equity of 17.52%. The firm’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same quarter last year, the company posted $0.48 EPS. Analysts predict that Rexnord Corp will post 1.71 earnings per share for the current year.

Several analysts have recently weighed in on the company. Oppenheimer lifted their price objective on Rexnord from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Rexnord from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. ValuEngine upgraded shares of Rexnord from a “sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Zacks Investment Research upgraded shares of Rexnord from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective for the company in a research note on Friday, July 31st. Finally, KeyCorp lifted their target price on shares of Rexnord from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $34.57.

In other news, Director George C. Moore sold 3,000 shares of Rexnord stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $30.50, for a total value of $91,500.00. Following the completion of the transaction, the director now owns 38,468 shares in the company, valued at $1,173,274. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.50% of the company’s stock.

About Rexnord

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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