Dimensional Fund Advisors LP boosted its stake in Regal Beloit Corporation (NYSE:RBC) by 10.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,519,036 shares of the industrial products company’s stock after buying an additional 233,454 shares during the period. Dimensional Fund Advisors LP owned about 5.62% of Regal Beloit Corporation worth $190,565,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Elkfork Partners LLC bought a new stake in shares of Regal Beloit Corporation during the fourth quarter valued at approximately $134,000. Tyers Asset Management LLC raised its stake in shares of Regal Beloit Corporation by 47.7% in the first quarter. Tyers Asset Management LLC now owns 2,080 shares of the industrial products company’s stock valued at $157,000 after buying an additional 672 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Regal Beloit Corporation by 0.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,380 shares of the industrial products company’s stock worth $165,000 after buying an additional 11 shares in the last quarter. World Asset Management Inc acquired a new position in Regal Beloit Corporation during the first quarter worth approximately $207,000. Finally, Prudential PLC acquired a new position in Regal Beloit Corporation during the fourth quarter worth approximately $205,000. Hedge funds and other institutional investors own 94.08% of the company’s stock.
Regal Beloit Corporation (NYSE:RBC) traded up 0.37% during midday trading on Monday, hitting $81.70. 408,679 shares of the stock traded hands. The company has a 50-day moving average price of $80.10 and a 200-day moving average price of $75.44. Regal Beloit Corporation has a 1-year low of $51.57 and a 1-year high of $83.65. The firm has a market cap of $3.66 billion, a P/E ratio of 17.72 and a beta of 1.51.
Regal Beloit Corporation (NYSE:RBC) last posted its quarterly earnings results on Monday, May 8th. The industrial products company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.12. The business had revenue of $813.50 million for the quarter, compared to analysts’ expectations of $807.40 million. Regal Beloit Corporation had a return on equity of 9.80% and a net margin of 6.46%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 EPS. Analysts predict that Regal Beloit Corporation will post $4.83 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be given a dividend of $0.26 per share. This is a boost from Regal Beloit Corporation’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $1.04 annualized dividend and a yield of 1.27%. Regal Beloit Corporation’s dividend payout ratio (DPR) is presently 20.82%.
A number of research analysts have commented on RBC shares. Zacks Investment Research upgraded shares of Regal Beloit Corporation from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research note on Tuesday, April 11th. Jefferies Group LLC reiterated a “hold” rating and set a $73.00 price target on shares of Regal Beloit Corporation in a research note on Tuesday, April 18th. Oppenheimer Holdings, Inc. upgraded shares of Regal Beloit Corporation from a “market perform” rating to an “outperform” rating and set a $90.00 price target on the stock in a research note on Friday, May 5th. CIBC upgraded shares of Regal Beloit Corporation from a “market perform” rating to an “outperform” rating in a research note on Friday, May 5th. Finally, ValuEngine raised shares of Regal Beloit Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $75.00.
In other Regal Beloit Corporation news, Director Henry W. Knueppel sold 10,000 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $82.00, for a total transaction of $820,000.00. Following the transaction, the director now owns 3,726 shares in the company, valued at approximately $305,532. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Henry W. Knueppel sold 3,663 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $80.00, for a total value of $293,040.00. The disclosure for this sale can be found here. Insiders have sold a total of 24,463 shares of company stock worth $1,977,364 in the last quarter. Company insiders own 2.20% of the company’s stock.
Regal Beloit Corporation Company Profile
Regal Beloit Corporation is a manufacturer of electric motors, electrical motion controls, power generation and power transmission products. The Company operates through three segments: the Commercial and Industrial Systems segment, with its principal line of business in medium and large electric motors, power generation products, high-performance drives and controls and capacitors; the Climate Solutions segment, with its principal line of business in small motors, controls and air moving products, and the Power Transmission Solutions segment, with its principal line of business in power transmission gearing, hydraulic pump drives, open gearing and specialty mechanical products which control motion and torque.
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