Cipher Capital LP lessened its holdings in shares of Rexnord Corporation (NYSE:RXN) by 26.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,554 shares of the industrial products company’s stock after selling 27,033 shares during the quarter. Cipher Capital LP owned about 0.07% of Rexnord Corporation worth $1,946,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Ameriprise Financial Inc. boosted its position in shares of Rexnord Corporation by 11.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 124,971 shares of the industrial products company’s stock valued at $3,176,000 after acquiring an additional 13,065 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Rexnord Corporation during the 3rd quarter valued at about $598,000. Bank of New York Mellon Corp boosted its position in shares of Rexnord Corporation by 1.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 752,875 shares of the industrial products company’s stock valued at $19,130,000 after acquiring an additional 13,197 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Rexnord Corporation during the 3rd quarter valued at about $219,000. Finally, New York State Common Retirement Fund raised its holdings in shares of Rexnord Corporation by 17.8% during the 3rd quarter. New York State Common Retirement Fund now owns 226,785 shares of the industrial products company’s stock valued at $5,763,000 after buying an additional 34,302 shares in the last quarter.

In other news, insider Michael Troutman sold 22,914 shares of Rexnord Corporation stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $24.15, for a total value of $553,373.10. The sale was disclosed in a document filed with the SEC, which is available through this link. 3.50% of the stock is currently owned by company insiders.

A number of equities analysts recently weighed in on the company. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Rexnord Corporation in a report on Thursday, September 28th. Robert W. Baird set a $27.00 price objective on Rexnord Corporation and gave the company a “buy” rating in a report on Thursday, August 24th. TheStreet cut Rexnord Corporation from a “b-” rating to a “c+” rating in a report on Wednesday, November 15th. BidaskClub cut Rexnord Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, Zacks Investment Research raised Rexnord Corporation from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Rexnord Corporation currently has an average rating of “Hold” and an average price target of $26.00.

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Shares of Rexnord Corporation (NYSE RXN) opened at $24.13 on Wednesday. The firm has a market capitalization of $2,481.73, a P/E ratio of 20.07, a PEG ratio of 1.90 and a beta of 1.65. Rexnord Corporation has a 1 year low of $19.32 and a 1 year high of $26.24. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.08 and a quick ratio of 2.23.

Rexnord Corporation (NYSE:RXN) last issued its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. The firm had revenue of $510.80 million for the quarter, compared to analyst estimates of $505.75 million. Rexnord Corporation had a return on equity of 12.03% and a net margin of 4.45%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company earned $0.38 EPS. equities research analysts anticipate that Rexnord Corporation will post 1.26 earnings per share for the current year.

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.

Institutional Ownership by Quarter for Rexnord Corporation (NYSE:RXN)

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