Dimensional Fund Advisors LP Decreases Stake in Rexnord Co. (NYSE:RXN)


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Dimensional Fund Advisors LP decreased its holdings in Rexnord Co. (NYSE:RXN) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,613,879 shares of the industrial products company’s stock after selling 58,604 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Rexnord were worth $142,712,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new position in Rexnord in the 4th quarter valued at about $25,000. CI Investments Inc. purchased a new position in Rexnord in the 4th quarter worth approximately $26,000. Huntington National Bank boosted its position in Rexnord by 42.4% in the 4th quarter. Huntington National Bank now owns 840 shares of the industrial products company’s stock valued at $33,000 after buying an additional 250 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Rexnord in the fourth quarter valued at $37,000. Finally, Ellevest Inc. increased its holdings in shares of Rexnord by 29.1% in the 4th quarter. Ellevest Inc. now owns 1,784 shares of the industrial products company’s stock valued at $70,000 after acquiring an additional 402 shares during the last quarter. 99.23% of the stock is owned by institutional investors.

Shares of RXN opened at $47.81 on Thursday. The company has a quick ratio of 1.83, a current ratio of 2.82 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $5.75 billion, a PE ratio of 37.35, a price-to-earnings-growth ratio of 2.71 and a beta of 1.43. The stock’s fifty day simple moving average is $47.55 and its 200-day simple moving average is $39.66. Rexnord Co. has a 12-month low of $22.74 and a 12-month high of $51.54.

Rexnord (NYSE:RXN) last announced its quarterly earnings data on Monday, February 15th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Rexnord had a net margin of 7.97% and a return on equity of 16.83%. The firm had revenue of $490.40 million for the quarter, compared to analysts’ expectations of $468.01 million. Analysts anticipate that Rexnord Co. will post 1.76 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, March 8th. Investors of record on Friday, February 19th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.75%. This is an increase from Rexnord’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, February 18th. Rexnord’s dividend payout ratio (DPR) is currently 17.91%.

RXN has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on Rexnord from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, February 17th. Zacks Investment Research cut shares of Rexnord from a “buy” rating to a “hold” rating and set a $47.00 price objective for the company. in a report on Thursday, January 14th. Robert W. Baird lifted their price objective on Rexnord from $43.00 to $52.00 in a research note on Wednesday, February 17th. Vertical Research assumed coverage on Rexnord in a research report on Wednesday, January 20th. They set a “buy” rating on the stock. Finally, Oppenheimer raised their price target on shares of Rexnord from $44.00 to $50.00 in a research note on Thursday, January 14th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $45.50.

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.

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Institutional Ownership by Quarter for Rexnord (NYSE:RXN)

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