Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Fund Management S.A. purchased a new position in Regal Beloit Corporation during the third quarter worth $3,468,000. UBS Asset Management Americas Inc. increased its position in Regal Beloit Corporation by 38.3% in the third quarter. UBS Asset Management Americas Inc. now owns 71,813 shares of the company’s stock worth $4,272,000 after buying an additional 19,890 shares in the last quarter. South Texas Money Management Ltd. increased its position in Regal Beloit Corporation by 211.6% in the second quarter. South Texas Money Management Ltd. now owns 197,989 shares of the company’s stock worth $10,899,000 after buying an additional 134,442 shares in the last quarter. BlackRock Advisors LLC increased its position in Regal Beloit Corporation by 1.2% in the third quarter. BlackRock Advisors LLC now owns 24,955 shares of the company’s stock worth $1,485,000 after buying an additional 294 shares in the last quarter. Finally, BlackRock Fund Advisors increased its position in Regal Beloit Corporation by 4.7% in the third quarter. BlackRock Fund Advisors now owns 1,626,524 shares of the company’s stock worth $96,762,000 after buying an additional 73,340 shares in the last quarter. 90.66% of the stock is currently owned by hedge funds and other institutional investors.
Oarsman Capital Inc. lowered its position in shares of Regal Beloit Corporation (NYSE:RBC) by 17.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,795 shares of the company’s stock after selling 5,228 shares during the period. Regal Beloit Corporation makes up about 1.1% of Oarsman Capital Inc.’s holdings, making the stock its 29th largest position. Oarsman Capital Inc. owned 0.06% of Regal Beloit Corporation worth $1,717,000 at the end of the most recent quarter.
Regal Beloit Corporation (NYSE:RBC) traded up 0.81% during mid-day trading on Thursday, hitting $75.00. The company had a trading volume of 458,401 shares. The company has a 50-day moving average price of $71.77 and a 200 day moving average price of $65.33. The firm has a market capitalization of $3.36 billion, a P/E ratio of 16.59 and a beta of 1.58. Regal Beloit Corporation has a 12 month low of $47.77 and a 12 month high of $77.20.
Regal Beloit Corporation (NYSE:RBC) last issued its quarterly earnings results on Monday, February 6th. The company reported $1.04 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.04. Regal Beloit Corporation had a return on equity of 9.67% and a net margin of 6.31%. The company earned $758.10 million during the quarter, compared to analysts’ expectations of $755.50 million. During the same quarter in the previous year, the firm posted $1.17 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. Equities analysts forecast that Regal Beloit Corporation will post $4.72 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 13th. Shareholders of record on Friday, March 31st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, March 29th. This represents a $0.96 dividend on an annualized basis and a yield of 1.28%. Regal Beloit Corporation’s dividend payout ratio is currently 21.24%.
RBC has been the topic of a number of recent research reports. Stifel Nicolaus increased their target price on Regal Beloit Corporation to $78.00 in a report on Thursday. BMO Capital Markets reissued a “hold” rating on shares of Regal Beloit Corporation in a report on Tuesday, November 8th. Finally, Zacks Investment Research downgraded Regal Beloit Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, January 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $65.11.
In other Regal Beloit Corporation news, VP John Avampato sold 626 shares of Regal Beloit Corporation stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $69.26, for a total transaction of $43,356.76. Following the completion of the sale, the vice president now owns 13,097 shares of the company’s stock, valued at approximately $907,098.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.
Regal Beloit Corporation Company Profile
Regal Beloit Corporation is a manufacturer of electric motors and controls, electric generators and controls, and power transmission products. The Company operates through three segments: Commercial and Industrial Systems, Climate Solutions and Power Transmission Solutions. Its Commercial and Industrial Systems segment produces medium and large motors, commercial and industrial equipment, generator and custom drives and systems serving commercial heating, ventilation and air conditioning (HVAC), and power and oil and gas systems.
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