Robecosam AG Grows Stock Position in Rexnord Corp (NYSE:RXN)

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Robecosam AG increased its position in shares of Rexnord Corp (NYSE:RXN) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,035,300 shares of the industrial products company’s stock after buying an additional 13,000 shares during the quarter. Rexnord comprises approximately 1.2% of Robecosam AG’s portfolio, making the stock its 27th largest position. Robecosam AG’s holdings in Rexnord were worth $27,787,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. First Trust Advisors LP grew its position in shares of Rexnord by 11.1% in the 1st quarter. First Trust Advisors LP now owns 385,010 shares of the industrial products company’s stock worth $9,679,000 after buying an additional 38,360 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Rexnord by 15.3% in the 1st quarter. Nordea Investment Management AB now owns 270,366 shares of the industrial products company’s stock worth $6,798,000 after buying an additional 35,859 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its position in shares of Rexnord by 9.5% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 417,191 shares of the industrial products company’s stock worth $10,489,000 after buying an additional 36,349 shares during the last quarter. Strs Ohio grew its position in shares of Rexnord by 22.0% in the 2nd quarter. Strs Ohio now owns 10,000 shares of the industrial products company’s stock worth $302,000 after buying an additional 1,800 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC grew its position in shares of Rexnord by 228.1% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 45,846 shares of the industrial products company’s stock worth $1,385,000 after buying an additional 31,872 shares during the last quarter.

NYSE RXN opened at $27.45 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.99. Rexnord Corp has a twelve month low of $21.38 and a twelve month high of $30.60. The firm has a market capitalization of $2.90 billion, a PE ratio of 14.27, a P/E/G ratio of 1.69 and a beta of 1.58. The stock’s 50 day moving average is $26.98 and its 200 day moving average is $27.71.

Rexnord (NYSE:RXN) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.05. Rexnord had a return on equity of 19.57% and a net margin of 3.97%. The company had revenue of $508.30 million for the quarter, compared to analyst estimates of $515.98 million. During the same period in the previous year, the company posted $0.41 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. On average, research analysts anticipate that Rexnord Corp will post 1.97 earnings per share for the current year.

RXN has been the topic of a number of recent analyst reports. Bank of America lowered Rexnord from a “buy” rating to an “underperform” rating in a research report on Friday, July 12th. Barclays reiterated a “hold” rating and issued a $29.00 price objective on shares of Rexnord in a research report on Friday, October 4th. Zacks Investment Research lowered Rexnord from a “hold” rating to a “sell” rating and set a $27.00 price target on the stock. in a research report on Friday, October 11th. Deutsche Bank initiated coverage on Rexnord in a research report on Wednesday, August 14th. They set a “hold” rating on the stock. Finally, Robert W. Baird lowered Rexnord from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $33.00 to $29.00 in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $29.00.

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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