Teachers Advisors LLC boosted its stake in Regal Beloit Corporation (NYSE:RBC) by 13.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,565 shares of the industrial products company’s stock after buying an additional 6,493 shares during the period. Teachers Advisors LLC owned 0.12% of Regal Beloit Corporation worth $4,052,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. Advantus Capital Management Inc raised its stake in Regal Beloit Corporation by 3.1% in the first quarter. Advantus Capital Management Inc now owns 5,734 shares of the industrial products company’s stock valued at $434,000 after buying an additional 171 shares during the period. Wellington Management Group LLP raised its stake in Regal Beloit Corporation by 26.8% in the first quarter. Wellington Management Group LLP now owns 235,118 shares of the industrial products company’s stock valued at $17,786,000 after buying an additional 49,684 shares during the period. Principal Financial Group Inc. raised its stake in Regal Beloit Corporation by 2.5% in the first quarter. Principal Financial Group Inc. now owns 202,078 shares of the industrial products company’s stock valued at $15,287,000 after buying an additional 4,974 shares during the period. OppenheimerFunds Inc. raised its stake in Regal Beloit Corporation by 11.6% in the first quarter. OppenheimerFunds Inc. now owns 10,756 shares of the industrial products company’s stock valued at $814,000 after buying an additional 1,118 shares during the period. Finally, United Services Automobile Association raised its stake in Regal Beloit Corporation by 1.2% in the first quarter. United Services Automobile Association now owns 176,030 shares of the industrial products company’s stock valued at $13,317,000 after buying an additional 2,030 shares during the period. Hedge funds and other institutional investors own 93.32% of the company’s stock.
Shares of Regal Beloit Corporation (RBC) opened at 76.05 on Friday. The company’s 50-day moving average is $82.65 and its 200-day moving average is $78.55. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 16.79 and a beta of 1.52. Regal Beloit Corporation has a one year low of $56.45 and a one year high of $87.50.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders 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 1.37%. Regal Beloit Corporation’s dividend payout ratio is presently 22.96%.
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Several research firms have recently issued reports on RBC. BidaskClub lowered shares of Regal Beloit Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Zacks Investment Research lowered shares of Regal Beloit Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Stifel Nicolaus restated a “hold” rating and issued a $85.00 target price on shares of Regal Beloit Corporation in a report on Wednesday, July 19th. Jefferies Group LLC reiterated a “hold” rating and set a $80.00 price objective on shares of Regal Beloit Corporation in a report on Friday, July 14th. Finally, Wolfe Research began coverage on shares of Regal Beloit Corporation in a report on Tuesday, July 11th. They set a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Regal Beloit Corporation currently has a consensus rating of “Hold” and a consensus target price of $83.00.
In other news, Director Henry W. Knueppel sold 10,000 shares of the stock in a transaction dated Friday, June 2nd. The shares were 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 of the company’s stock, valued at $305,532. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Henry W. Knueppel sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $85.00, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 33,663 shares of company stock worth $2,813,040 in the last three months. Corporate insiders own 2.20% of the company’s stock.
About Regal Beloit Corporation
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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