SG Americas Securities LLC Buys New Stake in Rexnord Co. (NYSE:RXN)


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SG Americas Securities LLC bought a new stake in Rexnord Co. (NYSE:RXN) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 34,947 shares of the industrial products company’s stock, valued at approximately $1,380,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RXN. BlackRock Inc. increased its holdings in Rexnord by 2.3% in the 3rd quarter. BlackRock Inc. now owns 8,891,917 shares of the industrial products company’s stock worth $265,333,000 after acquiring an additional 201,525 shares in the last quarter. Brinker Capital Investments LLC purchased a new stake in Rexnord in the 3rd quarter worth $392,000. DekaBank Deutsche Girozentrale increased its holdings in Rexnord by 179.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 62,265 shares of the industrial products company’s stock worth $1,811,000 after acquiring an additional 40,000 shares in the last quarter. Harbor Investment Advisory LLC increased its holdings in Rexnord by 142.2% in the 3rd quarter. Harbor Investment Advisory LLC now owns 1,373 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 806 shares in the last quarter. Finally, American International Group Inc. grew its holdings in shares of Rexnord by 12.0% during the third quarter. American International Group Inc. now owns 72,939 shares of the industrial products company’s stock worth $2,177,000 after buying an additional 7,802 shares in the last quarter. Hedge funds and other institutional investors own 99.23% of the company’s stock.

A number of research firms have recently issued reports on RXN. Deutsche Bank Aktiengesellschaft upped their target price on shares of Rexnord from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, February 17th. Robert W. Baird upped their target price on shares of Rexnord from $43.00 to $52.00 in a report on Wednesday, February 17th. KeyCorp upped their target price on shares of Rexnord from $37.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, November 18th. Vertical Research initiated coverage on shares of Rexnord in a research report on Wednesday, January 20th. They set a “buy” rating on the stock. Finally, Zacks Investment Research cut shares of Rexnord from a “buy” rating to a “hold” rating and set a $47.00 price target on the stock. in a research report on Thursday, January 14th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $43.00.

NYSE RXN opened at $45.93 on Tuesday. The firm’s 50-day moving average is $42.30 and its two-hundred day moving average is $35.77. Rexnord Co. has a 12 month low of $18.87 and a 12 month high of $49.08. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.82 and a quick ratio of 1.83. The stock has a market capitalization of $5.52 billion, a P/E ratio of 35.88, a PEG ratio of 2.71 and a beta of 1.43.

Rexnord (NYSE:RXN) last issued its quarterly earnings results on Monday, February 15th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Rexnord had a net margin of 7.97% and a return on equity of 16.83%. As a group, analysts anticipate that Rexnord Co. will post 1.76 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 8th. Stockholders of record on Friday, February 19th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, February 18th. This is a boost from Rexnord’s previous quarterly dividend of $0.08. Rexnord’s dividend payout ratio is currently 17.91%.

Rexnord Company Profile

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.

Further Reading: Mutual funds are not immune from market timing

Institutional Ownership by Quarter for Rexnord (NYSE:RXN)

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