World Asset Management Inc bought a new stake in Regal Beloit Corp (NYSE:RBC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,671 shares of the industrial products company’s stock, valued at approximately $233,000.

Other large investors have also recently added to or reduced their stakes in the company. M&T Bank Corp purchased a new position in Regal Beloit in the 1st quarter valued at about $18,885,000. Parallel Advisors LLC lifted its holdings in Regal Beloit by 104.4% in the 2nd quarter. Parallel Advisors LLC now owns 374 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 191 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in Regal Beloit by 417.1% in the 1st quarter. Meeder Asset Management Inc. now owns 755 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 609 shares in the last quarter. Advisor Group Holdings Inc. purchased a new position in Regal Beloit in the 1st quarter valued at about $65,000. Finally, Stephenson National Bank & Trust lifted its holdings in Regal Beloit by 14.5% in the 2nd quarter. Stephenson National Bank & Trust now owns 2,224 shares of the industrial products company’s stock valued at $194,000 after purchasing an additional 281 shares in the last quarter. Institutional investors own 94.49% of the company’s stock.

NYSE RBC opened at $91.97 on Friday. Regal Beloit Corp has a one year low of $51.99 and a one year high of $94.99. The company’s 50 day moving average price is $86.77 and its 200 day moving average price is $78.35. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.03 and a current ratio of 3.16. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 2.35 and a beta of 1.41.

Regal Beloit (NYSE:RBC) last posted its quarterly earnings results on Monday, May 4th. The industrial products company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.22. Regal Beloit had a net margin of 6.38% and a return on equity of 9.49%. The firm had revenue of $734.20 million for the quarter, compared to analyst estimates of $746.41 million. During the same quarter last year, the firm posted $1.40 earnings per share. Regal Beloit’s revenue for the quarter was down 14.0% compared to the same quarter last year. Sell-side analysts forecast that Regal Beloit Corp will post 4.02 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $1.20 annualized dividend and a yield of 1.30%. Regal Beloit’s payout ratio is 21.86%.

A number of research firms have issued reports on RBC. Zacks Investment Research lowered shares of Regal Beloit from a “hold” rating to a “sell” rating and set a $76.00 target price on the stock. in a report on Thursday, May 7th. Barclays upgraded shares of Regal Beloit from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $85.00 to $100.00 in a report on Monday, June 1st. Robert W. Baird increased their price objective on shares of Regal Beloit from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Oppenheimer assumed coverage on shares of Regal Beloit in a report on Thursday, June 11th. They set a “buy” rating and a $93.00 price objective on the stock. Finally, KeyCorp increased their price objective on shares of Regal Beloit from $90.00 to $93.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $86.25.

Regal Beloit Company Profile

Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.

See Also: Ex-Dividend

Institutional Ownership by Quarter for Regal Beloit (NYSE:RBC)

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