Rexnord Corp (RXN) CFO Mark W. Peterson Sells 7,305 Shares
Rexnord Corp (NYSE:RXN) CFO Mark W. Peterson sold 7,305 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $27.59, for a total value of $201,544.95. Following the completion of the sale, the chief financial officer now directly owns 35,948 shares of the company’s stock, valued at $991,805.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of NYSE RXN traded up $0.11 during trading hours on Wednesday, reaching $27.88. The stock had a trading volume of 311,819 shares, compared to its average volume of 700,636. The stock has a market cap of $2.88 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 1.12 and a beta of 1.56. The company has a quick ratio of 1.86, a current ratio of 2.87 and a debt-to-equity ratio of 1.11. Rexnord Corp has a fifty-two week low of $21.38 and a fifty-two week high of $32.11.
Rexnord (NYSE:RXN) last announced its earnings results on Wednesday, May 8th. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. The firm had revenue of $537.50 million during the quarter, compared to analysts’ expectations of $543.89 million. Rexnord had a return on equity of 19.48% and a net margin of 1.68%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 EPS. Sell-side analysts anticipate that Rexnord Corp will post 1.98 earnings per share for the current year.
A number of analysts recently issued reports on the company. Zacks Investment Research cut Rexnord from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. Oppenheimer raised Rexnord to a “buy” rating and set a $35.00 target price for the company in a research report on Monday, February 4th. Barclays reissued a “hold” rating and issued a $30.00 target price on shares of Rexnord in a research report on Friday, February 1st. Finally, Robert W. Baird set a $29.00 target price on Rexnord and gave the company a “buy” rating in a research report on Friday, January 25th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $30.63.
Rexnord Corporation designs, manufactures, and markets process and motion control, and water management products worldwide. It operates in two segments, Process & Motion Control Platform and Water Management Platform. The company offers table top conveying chain and related accessories, metal conveying and engineered woven metals, gearing and gear drives, conveying equipment, industrial chain, and custom assemblies; custom-engineered, application-specific miniature gearboxes, and motion control assemblies and components used in aerospace, defense, medical equipment, robotics, semiconductor, instrumentation, and satellite communications; and shaft management products, including couplings, torque limiters, electromagnetic clutches and brakes, industrial bearings, and shaft locking assemblies.
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