Rexnord Corp (RXN) General Counsel Sells $64,946.86 in Stock

Rexnord Corp (NYSE:RXN) General Counsel Patricia M. Whaley sold 2,354 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $27.59, for a total transaction of $64,946.86. Following the completion of the sale, the general counsel now directly owns 62,942 shares in the company, valued at approximately $1,736,569.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

NYSE:RXN traded down $0.50 on Friday, reaching $27.77. The stock had a trading volume of 2,013 shares, compared to its average volume of 637,507. The firm has a market cap of $2.92 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.15 and a beta of 1.56. Rexnord Corp has a 1-year low of $21.38 and a 1-year high of $32.11. The company has a quick ratio of 1.86, a current ratio of 2.48 and a debt-to-equity ratio of 1.00.

Rexnord (NYSE:RXN) last announced its earnings results on Wednesday, May 8th. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.04. Rexnord had a net margin of 1.68% and a return on equity of 19.22%. The company had revenue of $537.50 million for the quarter, compared to analyst estimates of $543.89 million. During the same period in the prior year, the business earned $0.47 earnings per share. Rexnord’s quarterly revenue was up 3.8% on a year-over-year basis. On average, research analysts expect that Rexnord Corp will post 1.96 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Investors Research Corp lifted its position in shares of Rexnord by 5.0% during the fourth quarter. Investors Research Corp now owns 10,520 shares of the industrial products company’s stock worth $241,000 after purchasing an additional 500 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Rexnord by 15.4% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,901 shares of the industrial products company’s stock worth $99,000 after purchasing an additional 521 shares in the last quarter. ClariVest Asset Management LLC lifted its position in shares of Rexnord by 0.8% during the fourth quarter. ClariVest Asset Management LLC now owns 78,900 shares of the industrial products company’s stock worth $1,810,000 after purchasing an additional 600 shares in the last quarter. ELCO Management Co. LLC lifted its position in shares of Rexnord by 4.6% during the first quarter. ELCO Management Co. LLC now owns 15,140 shares of the industrial products company’s stock worth $381,000 after purchasing an additional 660 shares in the last quarter. Finally, Amalgamated Bank lifted its position in shares of Rexnord by 6.0% during the fourth quarter. Amalgamated Bank now owns 13,960 shares of the industrial products company’s stock worth $320,000 after purchasing an additional 788 shares in the last quarter.

A number of equities analysts have commented on the stock. Zacks Investment Research lowered shares of Rexnord from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. Oppenheimer upgraded shares of Rexnord to a “buy” rating and set a $35.00 price target on the stock in a research report on Monday, February 4th. Barclays restated a “hold” rating and issued a $30.00 price target on shares of Rexnord in a research report on Friday, February 1st. Finally, Robert W. Baird set a $29.00 price target on shares of Rexnord and gave the company a “buy” rating in a research report on Friday, January 25th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Rexnord has an average rating of “Hold” and an average price target of $30.63.

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About Rexnord

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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