Rexnord Corp (RXN) Shares Bought by Highbridge Capital Management LLC

Highbridge Capital Management LLC boosted its stake in shares of Rexnord Corp (NYSE:RXN) by 292.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,010 shares of the industrial products company’s stock after buying an additional 137,834 shares during the quarter. Highbridge Capital Management LLC owned approximately 0.18% of Rexnord worth $4,701,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Verition Fund Management LLC lifted its holdings in Rexnord by 3.2% during the 2nd quarter. Verition Fund Management LLC now owns 20,939 shares of the industrial products company’s stock valued at $487,000 after buying an additional 641 shares in the last quarter. California Public Employees Retirement System lifted its holdings in Rexnord by 0.3% during the 2nd quarter. California Public Employees Retirement System now owns 230,400 shares of the industrial products company’s stock valued at $5,357,000 after buying an additional 800 shares in the last quarter. Aperio Group LLC lifted its holdings in Rexnord by 11.9% during the 2nd quarter. Aperio Group LLC now owns 9,774 shares of the industrial products company’s stock valued at $227,000 after buying an additional 1,043 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Rexnord by 27.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,142 shares of the industrial products company’s stock valued at $213,000 after buying an additional 1,981 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in Rexnord by 79.9% during the 2nd 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 in the last quarter.

Rexnord Corp (NYSE:RXN) traded down $0.04 during midday trading on Wednesday, reaching $24.53. 1,138,800 shares of the company’s stock were exchanged, compared to its average volume of 914,589. The company has a quick ratio of 2.23, a current ratio of 3.08 and a debt-to-equity ratio of 1.37. The stock has a market cap of $2,553.44, a P/E ratio of 20.65, a price-to-earnings-growth ratio of 1.96 and a beta of 1.65. Rexnord Corp has a 1-year low of $19.32 and a 1-year high of $26.24.

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

A number of brokerages recently weighed in on RXN. TheStreet lowered shares of Rexnord from a “b-” rating to a “c+” rating in a report on Wednesday, November 15th. Zacks Investment Research upgraded shares of Rexnord from a “sell” rating to a “hold” rating in a report on Monday, October 16th. Oppenheimer reiterated a “hold” rating on shares of Rexnord in a report on Thursday, September 28th. Finally, Robert W. Baird set a $27.00 price objective on shares of Rexnord and gave the company a “buy” rating in a report on Thursday, August 24th. One equities 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 stock. Rexnord has a consensus rating of “Hold” and an average target price of $27.00.

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About Rexnord

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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