UBS Asset Management Americas Inc. lowered its position in shares of Regal Beloit Corp. (NYSE:RBC) by 26.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 51,923 shares of the company’s stock after selling 18,883 shares during the period. UBS Asset Management Americas Inc. owned 0.12% of Regal Beloit Corp. worth $2,858,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. State Treasurer State of Michigan boosted its position in shares of Regal Beloit Corp. by 0.6% in the second quarter. State Treasurer State of Michigan now owns 17,900 shares of the company’s stock worth $985,000 after buying an additional 100 shares in the last quarter. Utah Retirement Systems boosted its position in shares of Regal Beloit Corp. by 1.3% in the second quarter. Utah Retirement Systems now owns 8,095 shares of the company’s stock worth $446,000 after buying an additional 100 shares in the last quarter. Genesee Valley Trust Co. boosted its position in shares of Regal Beloit Corp. by 3.0% in the second quarter. Genesee Valley Trust Co. now owns 3,733 shares of the company’s stock worth $206,000 after buying an additional 107 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Regal Beloit Corp. by 1.3% in the second quarter. PNC Financial Services Group Inc. now owns 8,538 shares of the company’s stock worth $471,000 after buying an additional 113 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of Regal Beloit Corp. by 4.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 4,332 shares of the company’s stock worth $273,000 after buying an additional 173 shares in the last quarter. 95.95% of the stock is currently owned by institutional investors.
Regal Beloit Corp. (NYSE:RBC) traded up 0.13% during midday trading on Thursday, hitting $61.60. The company had a trading volume of 70,800 shares. Regal Beloit Corp. has a 52 week low of $47.77 and a 52 week high of $68.45. The company has a market capitalization of $2.76 billion, a P/E ratio of 19.44 and a beta of 1.57. The stock has a 50 day moving average price of $60.35 and a 200 day moving average price of $60.25.
Regal Beloit Corp. (NYSE:RBC) last posted its earnings results on Monday, August 8th. The company reported $1.14 EPS for the quarter, missing the Zacks’ consensus estimate of $1.24 by $0.10. Regal Beloit Corp. had a net margin of 4.30% and a return on equity of 10.35%. The business had revenue of $838.60 million for the quarter, compared to analyst estimates of $857.88 million. During the same quarter last year, the business earned $1.53 earnings per share. Regal Beloit Corp.’s revenue was down 11.0% on a year-over-year basis. Equities analysts forecast that Regal Beloit Corp. will post $4.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Wednesday, September 28th. Regal Beloit Corp.’s dividend payout ratio (DPR) is presently 30.28%.
A number of equities analysts recently weighed in on the company. Credit Suisse Group AG reissued a “buy” rating on shares of Regal Beloit Corp. in a report on Saturday, July 9th. Jefferies Group restated a “hold” rating on shares of Regal Beloit Corp. in a research report on Friday, July 1st. TheStreet upgraded Regal Beloit Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, August 18th. BMO Capital Markets lowered Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $76.00 to $66.00 in a research report on Tuesday, August 2nd. Finally, Zacks Investment Research upgraded Regal Beloit Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. Regal Beloit Corp. presently has an average rating of “Hold” and an average price target of $63.50.
In other news, VP Terry R. Colvin sold 1,615 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $62.47, for a total transaction of $100,889.05. Following the sale, the vice president now directly owns 21,146 shares in the company, valued at approximately $1,320,990.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.
Regal Beloit Corp. Company Profile
Regal Beloit Corporation is a manufacturer of electric motors and controls, electric generators and controls, and power transmission products. The Company operates through three segments: Commercial and Industrial Systems, Climate Solutions and Power Transmission Solutions. Its Commercial and Industrial Systems segment produces medium and large motors, commercial and industrial equipment, generator and custom drives and systems serving commercial heating, ventilation and air conditioning (HVAC), and power and oil and gas systems.
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