Calamos Wealth Management LLC bought a new stake in Rexnord Corp (NYSE:RXN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 24,719 shares of the industrial products company’s stock, valued at approximately $806,000.
Other hedge funds also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. purchased a new position in shares of Rexnord in the 2nd quarter valued at approximately $31,000. State of Alaska Department of Revenue purchased a new position in shares of Rexnord in the 4th quarter valued at approximately $49,000. First Mercantile Trust Co. acquired a new stake in shares of Rexnord in the 3rd quarter valued at approximately $54,000. River & Mercantile Asset Management LLP acquired a new stake in shares of Rexnord in the 2nd quarter valued at approximately $57,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Rexnord by 20.4% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,695 shares of the industrial products company’s stock valued at $142,000 after buying an additional 794 shares during the period.
RXN has been the subject of several recent analyst reports. Deutsche Bank raised their price target on Rexnord from $31.00 to $33.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Barclays reissued a “hold” rating and issued a $29.00 price target on shares of Rexnord in a report on Friday, October 4th. Bank of America raised Rexnord from an “underperform” rating to a “buy” rating in a report on Tuesday, December 17th. Finally, Zacks Investment Research cut Rexnord from a “hold” rating to a “sell” rating and set a $27.00 price target for the company. in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $30.60.
RXN opened at $32.67 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.94 and a quick ratio of 1.94. The business has a 50 day simple moving average of $32.29 and a 200-day simple moving average of $29.15. The stock has a market capitalization of $3.40 billion, a P/E ratio of 17.66, a P/E/G ratio of 1.74 and a beta of 1.64. Rexnord Corp has a 12 month low of $23.84 and a 12 month high of $33.41.
Rexnord (NYSE:RXN) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.47 by $0.04. The business had revenue of $521.30 million during the quarter, compared to analysts’ expectations of $524.39 million. Rexnord had a return on equity of 19.40% and a net margin of 8.56%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the firm earned $0.46 EPS. Research analysts anticipate that Rexnord Corp will post 1.95 EPS for the current year.
Rexnord Company Profile
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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