World Asset Management Inc Purchases 394 Shares of Regal Beloit Corporation (RBC)

World Asset Management Inc increased its stake in shares of Regal Beloit Corporation (NYSE:RBC) by 14.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,136 shares of the industrial products company’s stock after buying an additional 394 shares during the period. World Asset Management Inc’s holdings in Regal Beloit Corporation were worth $256,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in RBC. Goldman Sachs Group Inc. raised its position in Regal Beloit Corporation by 2.7% in the first quarter. Goldman Sachs Group Inc. now owns 476,010 shares of the industrial products company’s stock valued at $36,010,000 after buying an additional 12,329 shares during the last quarter. Macquarie Group Ltd. raised its position in Regal Beloit Corporation by 0.6% in the first quarter. Macquarie Group Ltd. now owns 387,018 shares of the industrial products company’s stock valued at $29,278,000 after buying an additional 2,216 shares during the last quarter. Hengehold Capital Management LLC bought a new position in Regal Beloit Corporation during the first quarter valued at $359,000. Gotham Asset Management LLC raised its position in Regal Beloit Corporation by 56.3% in the first quarter. Gotham Asset Management LLC now owns 231,875 shares of the industrial products company’s stock valued at $17,541,000 after buying an additional 83,548 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in Regal Beloit Corporation by 0.4% in the first quarter. Fisher Asset Management LLC now owns 578,923 shares of the industrial products company’s stock valued at $43,796,000 after buying an additional 2,030 shares during the last quarter. 93.32% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Regal Beloit Corporation (RBC) opened at 76.40 on Friday. The stock’s 50 day moving average price is $82.74 and its 200-day moving average price is $78.52. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 16.87 and a beta of 1.52. Regal Beloit Corporation has a 52-week low of $56.45 and a 52-week high of $87.50.

Regal Beloit Corporation (NYSE:RBC) last announced its earnings results on Monday, August 7th. The industrial products company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. Regal Beloit Corporation had a return on equity of 9.88% and a net margin of 6.29%. The company had revenue of $869.20 million for the quarter, compared to analyst estimates of $854.66 million. During the same quarter in the prior year, the company earned $1.14 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, analysts forecast that Regal Beloit Corporation will post $4.86 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.04 annualized dividend and a dividend yield of 1.36%. Regal Beloit Corporation’s payout ratio is 22.96%.

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Several equities analysts have weighed in on RBC shares. Zacks Investment Research lowered Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research note on Monday, May 29th. CIBC raised Regal Beloit Corporation from a “market perform” rating to an “outperform” rating in a research note on Friday, May 5th. Stifel Nicolaus reissued a “hold” rating and issued a $85.00 target price on shares of Regal Beloit Corporation in a research note on Wednesday, July 19th. BidaskClub raised Regal Beloit Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $88.00 target price on shares of Regal Beloit Corporation in a research note on Thursday, June 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $83.00.

In related news, Director Henry W. Knueppel sold 10,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $82.00, for a total transaction of $820,000.00. Following the sale, the director now owns 3,726 shares in the company, valued at approximately $305,532. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Henry W. Knueppel sold 3,663 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $80.00, for a total value of $293,040.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,663 shares of company stock worth $2,813,040. 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.

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

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