Thompson Investment Management Inc. Decreases Position in Regal Beloit Corporation (RBC)
Thompson Investment Management Inc. reduced its stake in shares of Regal Beloit Corporation (NYSE:RBC) by 8.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,143 shares of the industrial products company’s stock after selling 3,869 shares during the period. Thompson Investment Management Inc. owned about 0.09% of Regal Beloit Corporation worth $3,437,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Tyers Asset Management LLC raised its stake in 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 during the period. Envestnet Asset Management Inc. raised its stake in Regal Beloit Corporation by 5.6% in the first quarter. Envestnet Asset Management Inc. now owns 2,514 shares of the industrial products company’s stock valued at $191,000 after buying an additional 134 shares during the period. World Asset Management Inc acquired a new stake in Regal Beloit Corporation during the first quarter valued at about $207,000. Elkfork Partners LLC raised its stake in Regal Beloit Corporation by 47.7% in the first quarter. Elkfork Partners LLC now owns 2,860 shares of the industrial products company’s stock valued at $216,000 after buying an additional 924 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in Regal Beloit Corporation during the second quarter valued at about $236,000. 93.32% of the stock is currently owned by institutional investors.
Shares of Regal Beloit Corporation (RBC) traded down 0.52% during midday trading on Wednesday, hitting $76.10. 34,552 shares of the stock were exchanged. Regal Beloit Corporation has a 1-year low of $56.45 and a 1-year high of $87.50. The company has a market capitalization of $3.39 billion, a P/E ratio of 16.80 and a beta of 1.52. The firm has a 50-day moving average of $82.48 and a 200-day moving average of $78.67.
Regal Beloit Corporation (NYSE:RBC) last issued its earnings results on Monday, August 7th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.01. The company had revenue of $869.20 million during the quarter, compared to analysts’ expectations of $854.66 million. Regal Beloit Corporation had a return on equity of 9.88% and a net margin of 6.29%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.14 EPS. On average, equities analysts expect that Regal Beloit Corporation will post $4.86 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Thursday, September 28th. Regal Beloit Corporation’s payout ratio is currently 22.96%.
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Several research firms have recently issued reports on RBC. Zacks Investment Research lowered shares of Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Stifel Nicolaus reaffirmed a “hold” rating and set a $85.00 price objective on shares of Regal Beloit Corporation in a research note on Tuesday. BidaskClub cut shares of Regal Beloit Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. CIBC raised shares of Regal Beloit Corporation from a “market perform” rating to an “outperform” rating in a research note on Friday, May 5th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $80.00 price objective on shares of Regal Beloit Corporation in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Regal Beloit Corporation has a consensus rating of “Hold” and a consensus price target of $83.00.
In other Regal Beloit Corporation news, Director Henry W. Knueppel sold 20,000 shares of the company’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $85.00, for a total value of $1,700,000.00. Following the completion of the sale, the director now directly owns 3,726 shares in the company, valued at approximately $316,710. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Henry W. Knueppel sold 10,000 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $82.00, for a total value of $820,000.00. Following the completion of the sale, the director now owns 3,726 shares of the company’s stock, valued at $305,532. The disclosure for this sale can be found here. 2.20% of the stock is owned by corporate insiders.
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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