Moody National Bank Trust Division continued to hold its stake in shares of Rexnord Corporation (NYSE:RXN) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 14,730 shares of the industrial products company’s stock at the end of the second quarter. Moody National Bank Trust Division’s holdings in Rexnord Corporation were worth $342,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Channing Capital Management LLC boosted its position in Rexnord Corporation by 1.6% in the second quarter. Channing Capital Management LLC now owns 2,160,015 shares of the industrial products company’s stock valued at $50,220,000 after buying an additional 34,549 shares during the last quarter. Strs Ohio acquired a new position in Rexnord Corporation during the second quarter valued at approximately $139,000. US Bancorp DE raised its position in Rexnord Corporation by 79.9% in the second quarter. US Bancorp DE now owns 6,074 shares of the industrial products company’s stock valued at $141,000 after buying an additional 2,697 shares during the period. Aperio Group LLC raised its position in Rexnord Corporation by 11.9% in the second quarter. Aperio Group LLC now owns 9,774 shares of the industrial products company’s stock valued at $227,000 after buying an additional 1,043 shares during the period. Finally, Perigon Wealth Management LLC raised its stake in Rexnord Corporation by 14.2% in the first quarter. Perigon Wealth Management LLC now owns 10,589 shares of the industrial products company’s stock valued at $244,000 after buying an additional 1,320 shares during the period.
Rexnord Corporation (NYSE:RXN) traded down 0.74% during trading on Tuesday, hitting $24.20. 302,446 shares of the company traded hands. The company’s 50-day moving average is $23.64 and its 200 day moving average is $23.21. Rexnord Corporation has a 52-week low of $15.80 and a 52-week high of $25.50. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 36.67 and a beta of 1.63.
Rexnord Corporation (NYSE:RXN) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. Rexnord Corporation had a return on equity of 14.27% and a net margin of 4.22%. The firm had revenue of $487.70 million during the quarter, compared to the consensus estimate of $484.20 million. During the same period last year, the company earned $0.35 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities analysts anticipate that Rexnord Corporation will post $1.27 earnings per share for the current year.
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Several research analysts recently commented on RXN shares. TheStreet raised shares of Rexnord Corporation from a “c+” rating to a “b” rating in a research note on Wednesday, May 17th. Zacks Investment Research downgraded shares of Rexnord Corporation from a “hold” rating to a “sell” rating in a research report on Monday, April 24th. BidaskClub cut shares of Rexnord Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Rexnord Corporation in a research note on Thursday, May 18th. Finally, Janney Montgomery Scott began coverage on shares of Rexnord Corporation in a research note on Friday, July 21st. They set a “buy” rating and a $27.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $24.80.
About Rexnord Corporation
Rexnord Corporation is a multi-platform industrial company. The Company operates through two segments: Process & Motion Control platform, and Water Management platform. The Process & Motion Control platform designs, manufactures, markets and services a range of engineered mechanical components used within systems.
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