Insider Selling: Rexnord Corp (RXN) Insider Sells 2,771 Shares of Stock

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Rexnord Corp (NYSE:RXN) insider George J. Powers sold 2,771 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $27.59, for a total value of $76,451.89. Following the completion of the sale, the insider now directly owns 14,153 shares of the company’s stock, valued at $390,481.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Rexnord stock traded up $0.11 during trading hours on Wednesday, hitting $27.88. 311,819 shares of the company were exchanged, compared to its average volume of 700,636. Rexnord Corp has a 1 year low of $21.38 and a 1 year high of $32.11. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.87 and a quick ratio of 1.86. The stock has a market capitalization of $2.88 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 1.12 and a beta of 1.56.

Rexnord (NYSE:RXN) last released its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.04. Rexnord had a return on equity of 19.48% and a net margin of 1.68%. The business had revenue of $537.50 million during the quarter, compared to analysts’ expectations of $543.89 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Rexnord Corp will post 1.98 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the company. AdvisorNet Financial Inc purchased a new stake in shares of Rexnord during the fourth quarter worth approximately $25,000. NumerixS Investment Technologies Inc purchased a new stake in shares of Rexnord during the fourth quarter worth approximately $25,000. Essex Investment Management Co. LLC purchased a new stake in shares of Rexnord during the fourth quarter worth approximately $43,000. Cresset Asset Management LLC purchased a new stake in shares of Rexnord during the first quarter worth approximately $70,000. Finally, Quantamental Technologies LLC purchased a new stake in shares of Rexnord during the fourth quarter worth approximately $73,000.

Several equities research analysts have recently weighed in on RXN shares. Oppenheimer set a $35.00 price objective on Rexnord and gave the company a “buy” rating in a report on Sunday, January 27th. Robert W. Baird set a $29.00 price objective on Rexnord and gave the company a “buy” rating in a report on Friday, January 25th. Zacks Investment Research raised Rexnord from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Friday, February 1st. Finally, Barclays reissued a “hold” rating and issued a $30.00 price objective on shares of Rexnord in a report on Friday, February 1st. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $30.63.

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About Rexnord

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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