Mondrian Investment Partners LTD increased its holdings in Regal Beloit Corp (NYSE:RBC) by 17.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,317 shares of the industrial products company’s stock after purchasing an additional 9,161 shares during the period. Mondrian Investment Partners LTD owned approximately 0.14% of Regal Beloit worth $4,394,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of RBC. Mackay Shields LLC increased its holdings in shares of Regal Beloit by 12.8% during the third quarter. Mackay Shields LLC now owns 42,052 shares of the industrial products company’s stock worth $3,064,000 after buying an additional 4,766 shares in the last quarter. Tocqueville Asset Management L.P. acquired a new stake in shares of Regal Beloit during the third quarter worth approximately $375,000. Sciencast Management LP acquired a new stake in shares of Regal Beloit during the third quarter worth approximately $296,000. California Public Employees Retirement System increased its holdings in shares of Regal Beloit by 12.9% during the third quarter. California Public Employees Retirement System now owns 110,688 shares of the industrial products company’s stock worth $8,064,000 after buying an additional 12,605 shares in the last quarter. Finally, Empirical Finance LLC bought a new stake in shares of Regal Beloit during the third quarter valued at approximately $1,309,000. 92.96% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently commented on RBC. Robert W. Baird increased their price target on shares of Regal Beloit from $83.00 to $93.00 and gave the company an “outperform” rating in a research note on Tuesday. Zacks Investment Research raised shares of Regal Beloit from a “sell” rating to a “hold” rating and set a $81.00 price target on the stock in a research note on Monday, August 5th. Barclays increased their price target on shares of Regal Beloit from $74.00 to $90.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Goldman Sachs Group set a $80.00 price target on shares of Regal Beloit and gave the company a “buy” rating in a research note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $87.00.
RBC stock traded up $0.37 during midday trading on Friday, reaching $83.59. The company’s stock had a trading volume of 217,052 shares, compared to its average volume of 248,280. Regal Beloit Corp has a 52 week low of $66.04 and a 52 week high of $87.31. The stock has a market cap of $3.47 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 1.50 and a beta of 1.59. The company has a quick ratio of 1.61, a current ratio of 2.83 and a debt-to-equity ratio of 0.52. The business’s 50-day simple moving average is $73.67 and its 200-day simple moving average is $76.58.
Regal Beloit (NYSE:RBC) last announced its quarterly earnings data on Monday, November 4th. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.02. Regal Beloit had a net margin of 7.62% and a return on equity of 10.14%. The firm had revenue of $772.30 million for the quarter, compared to analysts’ expectations of $808.49 million. During the same period last year, the firm earned $1.67 earnings per share. The business’s revenue for the quarter was down 16.5% on a year-over-year basis. As a group, equities analysts forecast that Regal Beloit Corp will post 5.49 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, December 26th. This represents a $1.20 dividend on an annualized basis and a yield of 1.44%. Regal Beloit’s payout ratio is presently 20.00%.
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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