DF Dent & Co. Inc. Has $850,000 Holdings in Rexnord Corp (RXN)

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DF Dent & Co. Inc. cut its holdings in Rexnord Corp (NYSE:RXN) by 13.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,267 shares of the industrial products company’s stock after selling 4,547 shares during the period. DF Dent & Co. Inc.’s holdings in Rexnord were worth $850,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Janus Henderson Group PLC raised its stake in Rexnord by 0.9% in the second quarter. Janus Henderson Group PLC now owns 15,165,954 shares of the industrial products company’s stock valued at $440,723,000 after buying an additional 140,597 shares in the last quarter. BlackRock Inc. raised its stake in Rexnord by 5.7% in the first quarter. BlackRock Inc. now owns 8,629,683 shares of the industrial products company’s stock valued at $256,129,000 after buying an additional 467,658 shares in the last quarter. FMR LLC raised its stake in Rexnord by 21.2% in the second quarter. FMR LLC now owns 6,238,342 shares of the industrial products company’s stock valued at $181,286,000 after buying an additional 1,089,253 shares in the last quarter. Jennison Associates LLC raised its stake in Rexnord by 0.9% in the second quarter. Jennison Associates LLC now owns 3,498,406 shares of the industrial products company’s stock valued at $101,664,000 after buying an additional 31,160 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Rexnord by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,848,021 shares of the industrial products company’s stock valued at $82,763,000 after buying an additional 82,879 shares in the last quarter.

RXN opened at $30.84 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.62 and a current ratio of 2.40. Rexnord Corp has a one year low of $22.89 and a one year high of $31.44. The stock has a market cap of $3.12 billion, a PE ratio of 22.19, a PEG ratio of 1.07 and a beta of 1.53.

Rexnord (NYSE:RXN) last posted its earnings results on Monday, July 30th. The industrial products company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.05. Rexnord had a return on equity of 14.99% and a net margin of 2.34%. The business had revenue of $503.60 million for the quarter, compared to analysts’ expectations of $505.18 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The business’s revenue was up 13.6% compared to the same quarter last year. equities research analysts anticipate that Rexnord Corp will post 1.7 EPS for the current year.

A number of analysts have weighed in on the company. Bank of America raised their price target on Rexnord from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. Oppenheimer restated a “buy” rating and issued a $35.00 price target on shares of Rexnord in a research note on Monday, July 30th. Finally, KeyCorp raised their price target on Rexnord from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, July 31st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Rexnord has an average rating of “Buy” and a consensus price target of $32.67.

About Rexnord

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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