California State Teachers Retirement System lessened its stake in Regal Beloit Corp (NYSE:RBC) by 2.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 69,992 shares of the industrial products company’s stock after selling 1,520 shares during the period. California State Teachers Retirement System owned about 0.16% of Regal Beloit worth $5,730,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Keeley Teton Advisors LLC boosted its position in Regal Beloit by 0.6% in the 1st quarter. Keeley Teton Advisors LLC now owns 19,875 shares of the industrial products company’s stock valued at $1,627,000 after buying an additional 120 shares during the period. Synovus Financial Corp raised its stake in Regal Beloit by 2.9% during the 1st quarter. Synovus Financial Corp now owns 5,215 shares of the industrial products company’s stock worth $431,000 after acquiring an additional 149 shares in the last quarter. Mason Street Advisors LLC raised its stake in Regal Beloit by 0.7% during the 1st quarter. Mason Street Advisors LLC now owns 22,753 shares of the industrial products company’s stock worth $1,863,000 after acquiring an additional 155 shares in the last quarter. Twin Capital Management Inc. raised its stake in Regal Beloit by 0.3% during the 1st quarter. Twin Capital Management Inc. now owns 54,720 shares of the industrial products company’s stock worth $4,480,000 after acquiring an additional 180 shares in the last quarter. Finally, Menta Capital LLC raised its stake in Regal Beloit by 2.2% during the 1st quarter. Menta Capital LLC now owns 9,100 shares of the industrial products company’s stock worth $745,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 91.57% of the company’s stock.
NYSE RBC opened at $79.20 on Wednesday. The company has a current ratio of 2.71, a quick ratio of 1.53 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.23 and a beta of 1.58. Regal Beloit Corp has a one year low of $66.04 and a one year high of $87.31.
Regal Beloit (NYSE:RBC) last posted its quarterly earnings data on Monday, May 6th. The industrial products company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.02. The company had revenue of $853.80 million for the quarter, compared to analyst estimates of $882.61 million. Regal Beloit had a net margin of 7.15% and a return on equity of 11.24%. Regal Beloit’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.34 earnings per share. Equities analysts anticipate that Regal Beloit Corp will post 6.35 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This is a positive change from Regal Beloit’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 1.52%. Regal Beloit’s payout ratio is currently 18.67%.
Several brokerages recently commented on RBC. Zacks Investment Research upgraded shares of Regal Beloit from a “sell” rating to a “hold” rating and set a $82.00 price target on the stock in a research note on Monday. BMO Capital Markets dropped their price objective on shares of Regal Beloit from $95.00 to $93.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 8th. Finally, Royal Bank of Canada restated a “hold” rating on shares of Regal Beloit in a research note on Tuesday, May 7th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Regal Beloit presently has a consensus rating of “Hold” and a consensus price target of $90.33.
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Regal Beloit Profile
Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.
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