River & Mercantile Asset Management LLP Purchases Shares of 1,876 Rexnord Corp (NYSE:RXN)

River & Mercantile Asset Management LLP purchased a new stake in shares of Rexnord Corp (NYSE:RXN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,876 shares of the industrial products company’s stock, valued at approximately $57,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sandbar Asset Management LLP boosted its position in Rexnord by 337.6% during the second quarter. Sandbar Asset Management LLP now owns 337,461 shares of the industrial products company’s stock valued at $10,198,000 after buying an additional 260,347 shares during the period. Chicago Equity Partners LLC boosted its holdings in shares of Rexnord by 111.6% during the second quarter. Chicago Equity Partners LLC now owns 71,720 shares of the industrial products company’s stock worth $2,167,000 after purchasing an additional 37,825 shares during the period. Swiss National Bank boosted its holdings in shares of Rexnord by 2.2% during the second quarter. Swiss National Bank now owns 195,000 shares of the industrial products company’s stock worth $5,893,000 after purchasing an additional 4,200 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Rexnord by 3.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 991,648 shares of the industrial products company’s stock worth $29,968,000 after purchasing an additional 29,394 shares during the period. Finally, Rice Hall James & Associates LLC boosted its holdings in shares of Rexnord by 53.2% during the second quarter. Rice Hall James & Associates LLC now owns 510,764 shares of the industrial products company’s stock worth $15,435,000 after purchasing an additional 177,453 shares during the period.

Shares of RXN opened at $26.77 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.74 and a quick ratio of 1.74. Rexnord Corp has a one year low of $21.38 and a one year high of $30.60. The company has a 50-day simple moving average of $26.79 and a two-hundred day simple moving average of $27.64. The firm has a market capitalization of $2.73 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 1.62 and a beta of 1.58.



Rexnord (NYSE:RXN) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.05. Rexnord had a net margin of 3.97% and a return on equity of 19.57%. The business had revenue of $508.30 million during the quarter, compared to analyst estimates of $515.98 million. During the same period last year, the business posted $0.41 earnings per share. Rexnord’s quarterly revenue was up .9% compared to the same quarter last year. Analysts expect that Rexnord Corp will post 1.93 EPS for the current fiscal year.

A number of analysts have recently weighed in on RXN shares. Barclays reiterated a “hold” rating and set a $29.00 target price on shares of Rexnord in a report on Friday, October 4th. Deutsche Bank started coverage on shares of Rexnord in a report on Wednesday, August 14th. They set a “hold” rating for the company. Zacks Investment Research lowered shares of Rexnord from a “hold” rating to a “sell” rating and set a $27.00 target price for the company. in a report on Friday. Robert W. Baird lowered shares of Rexnord from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $33.00 to $29.00 in a report on Tuesday, September 3rd. Finally, Bank of America lowered shares of Rexnord from a “buy” rating to an “underperform” rating in a report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $29.00.

About Rexnord

Rexnord Corp. engages in the manufacture of engineered power transmission, aerospace, and other precision motion technology products. It operates through the Process and Motion Control, and Water Management segments. The Process and Motion Control segment designs, manufactures and markets engineered mechanical components such as gears, couplings, industrial, aerospace bearings, and seals which are used within complex systems.

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Institutional Ownership by Quarter for Rexnord (NYSE:RXN)

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