Algert Global LLC Raises Stake in Regal Beloit Corp (NYSE:RBC)

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Algert Global LLC lifted its position in Regal Beloit Corp (NYSE:RBC) by 25.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,174 shares of the industrial products company’s stock after buying an additional 2,038 shares during the period. Algert Global LLC’s holdings in Regal Beloit were worth $832,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its stake in Regal Beloit by 5.6% during the 1st quarter. BlackRock Inc. now owns 4,480,349 shares of the industrial products company’s stock valued at $328,633,000 after acquiring an additional 236,942 shares during the period. Dimensional Fund Advisors LP lifted its stake in Regal Beloit by 5.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,683,200 shares of the industrial products company’s stock valued at $196,813,000 after acquiring an additional 138,116 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Regal Beloit by 1.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,281,108 shares of the industrial products company’s stock valued at $104,795,000 after acquiring an additional 19,462 shares during the period. LSV Asset Management lifted its stake in Regal Beloit by 47.3% during the 1st quarter. LSV Asset Management now owns 800,708 shares of the industrial products company’s stock valued at $58,731,000 after acquiring an additional 257,048 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Regal Beloit by 67.1% in the 1st quarter. Franklin Resources Inc. now owns 745,024 shares of the industrial products company’s stock valued at $54,648,000 after purchasing an additional 299,269 shares during the period. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Regal Beloit stock opened at $80.25 on Tuesday. Regal Beloit Corp has a 52-week low of $67.84 and a 52-week high of $86.65. The firm has a market cap of $3.50 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 1.36 and a beta of 1.51. The company has a quick ratio of 1.22, a current ratio of 2.24 and a debt-to-equity ratio of 0.53.

Regal Beloit (NYSE:RBC) last released its earnings results on Monday, August 6th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.01. Regal Beloit had a net margin of 6.77% and a return on equity of 10.30%. The business had revenue of $959.70 million during the quarter, compared to analyst estimates of $953.65 million. During the same quarter in the prior year, the firm earned $1.29 earnings per share. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. equities research analysts anticipate that Regal Beloit Corp will post 5.92 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Friday, September 28th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Thursday, September 27th. Regal Beloit’s payout ratio is 23.00%.

In other news, Director Christopher L. Doerr sold 6,085 shares of the company’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $81.43, for a total transaction of $495,501.55. Following the completion of the sale, the director now owns 17,900 shares of the company’s stock, valued at $1,457,597. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is owned by corporate insiders.

RBC has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Regal Beloit from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research note on Friday, May 11th. Wolfe Research initiated coverage on shares of Regal Beloit in a research note on Wednesday, June 27th. They issued an “outperform” rating and a $97.00 target price for the company. Finally, BMO Capital Markets boosted their price target on shares of Regal Beloit from $89.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, August 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $88.60.

Regal Beloit Profile

Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and power transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.

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Institutional Ownership by Quarter for Regal Beloit (NYSE:RBC)

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