Regal Beloit Corp (NYSE:RBC) Short Interest Update

Regal Beloit Corp (NYSE:RBC) saw a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 721,400 shares, a growth of 24.4% from the April 30th total of 579,900 shares. Based on an average daily trading volume, of 215,300 shares, the days-to-cover ratio is presently 3.4 days. Approximately 1.7% of the company’s shares are short sold.

Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Regal Beloit from a “sell” rating to a “hold” rating in a research report on Monday, May 6th. Royal Bank of Canada restated a “hold” rating on shares of Regal Beloit in a research report on Tuesday, May 7th. Finally, BMO Capital Markets decreased their target price on Regal Beloit from $95.00 to $93.00 and set a “market perform” rating for the company in a research report on Wednesday, May 8th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $90.33.

Several institutional investors and hedge funds have recently modified their holdings of RBC. Riverview Trust Co bought a new stake in shares of Regal Beloit during the 4th quarter worth approximately $29,000. North Star Investment Management Corp. bought a new stake in shares of Regal Beloit during the 1st quarter worth approximately $39,000. Resources Investment Advisors Inc. raised its stake in shares of Regal Beloit by 162.7% during the 4th quarter. Resources Investment Advisors Inc. now owns 654 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 405 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Regal Beloit by 159.6% during the 1st quarter. Quadrant Capital Group LLC now owns 1,137 shares of the industrial products company’s stock worth $90,000 after purchasing an additional 699 shares in the last quarter. Finally, TD Asset Management Inc. bought a new stake in shares of Regal Beloit during the 1st quarter worth approximately $216,000. Institutional investors and hedge funds own 91.34% of the company’s stock.

Shares of RBC traded up $1.07 on Thursday, hitting $81.06. The company’s stock had a trading volume of 64,992 shares, compared to its average volume of 232,542. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.53 and a current ratio of 2.71. Regal Beloit has a fifty-two week low of $66.04 and a fifty-two week high of $87.31. The firm has a market capitalization of $3.42 billion, a PE ratio of 13.51, a P/E/G ratio of 1.26 and a beta of 1.59.

Regal Beloit (NYSE:RBC) last issued its quarterly earnings data on Monday, May 6th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.02. Regal Beloit had a return on equity of 11.24% and a net margin of 7.15%. The business had revenue of $853.80 million during the quarter, compared to analyst estimates of $882.61 million. During the same period in the previous year, the firm earned $1.34 EPS. Regal Beloit’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities research analysts predict that Regal Beloit will post 6.35 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This is a positive change from Regal Beloit’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 1.48%. Regal Beloit’s payout ratio is currently 18.67%.

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.

Further Reading: Short Selling Stocks, A Beginner’s Guide

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