Roubaix Capital LLC Purchases 625 Shares of Regal Rexnord Co. (NYSE:RRX)

Roubaix Capital LLC grew its position in shares of Regal Rexnord Co. (NYSE:RRX) by 2.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,324 shares of the company’s stock after buying an additional 625 shares during the period. Regal Rexnord makes up 2.2% of Roubaix Capital LLC’s holdings, making the stock its 24th biggest position. Roubaix Capital LLC’s holdings in Regal Rexnord were worth $3,424,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Auxano Advisors LLC increased its position in Regal Rexnord by 28.9% during the second quarter. Auxano Advisors LLC now owns 7,803 shares of the company’s stock worth $1,055,000 after acquiring an additional 1,748 shares during the period. Hantz Financial Services Inc. acquired a new position in shares of Regal Rexnord during the 2nd quarter worth approximately $13,160,000. iA Global Asset Management Inc. bought a new position in shares of Regal Rexnord during the second quarter worth approximately $346,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Regal Rexnord by 31.4% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,686 shares of the company’s stock valued at $2,662,000 after buying an additional 4,701 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Regal Rexnord by 31.5% in the second quarter. Principal Financial Group Inc. now owns 714,179 shares of the company’s stock valued at $96,571,000 after buying an additional 171,069 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Stock Down 3.8 %

RRX stock opened at $150.71 on Thursday. The firm has a 50-day moving average price of $151.59 and a 200-day moving average price of $157.80. Regal Rexnord Co. has a 12 month low of $97.18 and a 12 month high of $183.85. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $10.03 billion, a P/E ratio of -313.98, a price-to-earnings-growth ratio of 1.76 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.15. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the prior year, the company earned $2.56 EPS. The firm’s quarterly revenue was down 12.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Regal Rexnord Co. will post 9.53 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, September 27th. Regal Rexnord’s dividend payout ratio (DPR) is -291.67%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Barclays lowered their price objective on Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. The Goldman Sachs Group boosted their price target on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. KeyCorp dropped their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, Raymond James began coverage on shares of Regal Rexnord in a report on Friday, June 28th. They set a “market perform” rating for the company. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $189.83.

About Regal Rexnord

Regal Rexnord Corporation manufactures and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes, gear motors, clutches, brakes, special, and industrial powertrain components and solutions for food and beverage, bulk material handling, eCommerce/warehouse distribution, energy, mining, marine, agricultural machinery, turf and garden, and general industrial markets.