American International Group Inc. raised its position in Rexnord Corp (NYSE:RXN) by 8.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,829 shares of the industrial products company’s stock after acquiring an additional 5,221 shares during the quarter. American International Group Inc. owned approximately 0.07% of Rexnord worth $1,774,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RXN. Aperio Group LLC increased its position in shares of Rexnord by 11.9% in the second quarter. Aperio Group LLC now owns 9,774 shares of the industrial products company’s stock valued at $227,000 after acquiring an additional 1,043 shares during the period. US Bancorp DE increased its position in shares of Rexnord by 79.9% during the second quarter. US Bancorp DE now owns 6,074 shares of the industrial products company’s stock valued at $141,000 after buying an additional 2,697 shares during the period. Strs Ohio purchased a new position in shares of Rexnord during the second quarter valued at about $139,000. Sei Investments Co. increased its position in shares of Rexnord by 4.5% during the second quarter. Sei Investments Co. now owns 236,671 shares of the industrial products company’s stock valued at $5,503,000 after buying an additional 10,268 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Rexnord by 10.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 609,617 shares of the industrial products company’s stock valued at $14,174,000 after buying an additional 58,128 shares during the period.

Several equities analysts recently issued reports on the stock. Oppenheimer reiterated a “hold” rating on shares of Rexnord in a research report on Thursday, September 28th. Robert W. Baird set a $27.00 price target on shares of Rexnord and gave the company a “buy” rating in a research report on Thursday, August 24th. Zacks Investment Research upgraded shares of Rexnord from a “sell” rating to a “hold” rating in a research report on Monday, October 16th. Finally, TheStreet cut shares of Rexnord from a “b-” rating to a “c+” rating in a research report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $27.00.

Shares of Rexnord Corp (NYSE RXN) traded down $0.04 during midday trading on Wednesday, hitting $24.53. 1,138,800 shares of the company traded hands, compared to its average volume of 914,589. Rexnord Corp has a one year low of $19.32 and a one 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. The stock has a market capitalization of $2,553.44, a PE ratio of 20.65, a P/E/G ratio of 1.96 and a beta of 1.65.

Rexnord (NYSE:RXN) last announced its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. Rexnord had a net margin of 4.45% and a return on equity of 12.03%. The company had revenue of $510.80 million for the quarter, compared to analysts’ expectations of $505.75 million. During the same quarter in the previous year, the company earned $0.38 earnings per share. Rexnord’s quarterly revenue was up 4.0% on a year-over-year basis. equities analysts anticipate that Rexnord Corp will post 1.26 EPS for the current year.

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Rexnord Profile

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 (NYSE:RXN)

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