Rexnord Corp (RXN) Shares Sold by Chiron Investment Management LLC

Chiron Investment Management LLC reduced its position in shares of Rexnord Corp (NYSE:RXN) by 31.3% in the fourth quarter, Holdings Channel reports. The fund owned 4,611 shares of the industrial products company’s stock after selling 2,100 shares during the quarter. Chiron Investment Management LLC’s holdings in Rexnord were worth $106,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Rexnord by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 9,090,969 shares of the industrial products company’s stock valued at $280,001,000 after acquiring an additional 141,884 shares during the last quarter. Vanguard Group Inc boosted its position in shares of Rexnord by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 9,090,969 shares of the industrial products company’s stock valued at $280,001,000 after acquiring an additional 141,884 shares during the last quarter. BlackRock Inc. boosted its position in shares of Rexnord by 6.2% during the 4th quarter. BlackRock Inc. now owns 7,862,762 shares of the industrial products company’s stock valued at $180,451,000 after acquiring an additional 456,769 shares during the last quarter. FMR LLC boosted its position in shares of Rexnord by 10.1% during the 3rd quarter. FMR LLC now owns 6,867,892 shares of the industrial products company’s stock valued at $211,531,000 after acquiring an additional 629,550 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Rexnord by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,878,369 shares of the industrial products company’s stock valued at $66,058,000 after acquiring an additional 33,640 shares during the last quarter.

Shares of RXN opened at $26.94 on Friday. The firm has a market capitalization of $2.82 billion, a P/E ratio of 19.38, a P/E/G ratio of 0.87 and a beta of 1.53. Rexnord Corp has a 52-week low of $21.38 and a 52-week high of $32.11. The company has a quick ratio of 1.86, a current ratio of 2.87 and a debt-to-equity ratio of 1.11.

Rexnord (NYSE:RXN) last issued its quarterly earnings results on Wednesday, January 30th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. The company had revenue of $485.00 million during the quarter, compared to the consensus estimate of $487.19 million. Rexnord had a positive return on equity of 18.32% and a negative net margin of 3.58%. Rexnord’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the company earned $0.37 earnings per share. On average, sell-side analysts anticipate that Rexnord Corp will post 1.81 earnings per share for the current fiscal year.

In other Rexnord news, Director David C. Longren bought 3,500 shares of Rexnord stock in a transaction on Friday, February 1st. The shares were acquired at an average price of $26.50 per share, for a total transaction of $92,750.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd A. Adams sold 30,000 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $28.02, for a total value of $840,600.00. Following the completion of the sale, the chief executive officer now owns 271,792 shares in the company, valued at approximately $7,615,611.84. The disclosure for this sale can be found here. 4.50% of the stock is owned by company insiders.

A number of research firms have recently commented on RXN. Zacks Investment Research downgraded Rexnord from a “buy” rating to a “hold” rating in a research report on Wednesday, December 19th. Oppenheimer upgraded Rexnord to a “buy” rating and set a $35.00 target price for the company in a research report on Monday, February 4th. ValuEngine upgraded Rexnord from a “hold” rating to a “buy” rating in a research report on Friday, November 16th. Barclays reiterated a “hold” rating and set a $30.00 target price on shares of Rexnord in a research report on Friday, February 1st. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $31.00 target price on shares of Rexnord in a research report on Friday, November 23rd. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $30.88.

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Rexnord 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.

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Institutional Ownership by Quarter for Rexnord (NYSE:RXN)

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