Strs Ohio Increases Stock Holdings in Regal Beloit Corp (NYSE:RBC)

Strs Ohio grew its position in Regal Beloit Corp (NYSE:RBC) by 97.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,598 shares of the industrial products company’s stock after buying an additional 9,196 shares during the quarter. Strs Ohio’s holdings in Regal Beloit were worth $1,623,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in RBC. New Mexico Educational Retirement Board boosted its stake in shares of Regal Beloit by 32.4% during the first quarter. New Mexico Educational Retirement Board now owns 9,800 shares of the industrial products company’s stock valued at $617,000 after acquiring an additional 2,400 shares during the last quarter. State Street Corp boosted its stake in shares of Regal Beloit by 2.4% during the first quarter. State Street Corp now owns 1,022,326 shares of the industrial products company’s stock valued at $64,656,000 after acquiring an additional 24,374 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Regal Beloit by 1.3% during the first quarter. Victory Capital Management Inc. now owns 508,027 shares of the industrial products company’s stock valued at $31,980,000 after acquiring an additional 6,427 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Regal Beloit by 417.1% during the first quarter. Meeder Asset Management Inc. now owns 755 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 609 shares during the last quarter. Finally, Natixis Advisors L.P. boosted its stake in shares of Regal Beloit by 21.1% during the first quarter. Natixis Advisors L.P. now owns 18,806 shares of the industrial products company’s stock valued at $1,184,000 after acquiring an additional 3,277 shares during the last quarter. Institutional investors and hedge funds own 94.49% of the company’s stock.

Shares of NYSE:RBC opened at $91.97 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.03 and a current ratio of 3.16. Regal Beloit Corp has a 1 year low of $51.99 and a 1 year high of $94.99. The stock has a market capitalization of $3.73 billion, a P/E ratio of 19.36, a PEG ratio of 2.35 and a beta of 1.41. The stock has a 50-day simple moving average of $86.77 and a 200-day simple moving average of $78.35.

Regal Beloit (NYSE:RBC) last issued its earnings results on Monday, May 4th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.22. Regal Beloit had a return on equity of 9.49% and a net margin of 6.38%. The business had revenue of $734.20 million during the quarter, compared to analysts’ expectations of $746.41 million. During the same quarter in the previous year, the business earned $1.40 EPS. The company’s revenue for the quarter was down 14.0% on a year-over-year basis. Analysts predict that Regal Beloit Corp will post 4.02 earnings per share for the current year.

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

A number of research firms recently commented on RBC. Oppenheimer assumed coverage on Regal Beloit in a research note on Thursday, June 11th. They set a “buy” rating and a $93.00 price objective on the stock. Barclays raised Regal Beloit from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $85.00 to $100.00 in a research note on Monday, June 1st. Zacks Investment Research lowered Regal Beloit from a “hold” rating to a “sell” rating and set a $76.00 price target on the stock. in a research note on Thursday, May 7th. KeyCorp raised their price target on Regal Beloit from $90.00 to $93.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Finally, Robert W. Baird raised their price target on Regal Beloit from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a sell rating, three have assigned 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.

About Regal Beloit

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: Profit margin is different from the revenue

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

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