Cornercap Investment Counsel Inc. continued to hold its stake in shares of Regal Beloit Corp. (NYSE:RBC) during the fourth quarter, Holdings Channel reports. The institutional investor owned 24,100 shares of the company’s stock at the end of the fourth quarter. Cornercap Investment Counsel Inc.’s holdings in Regal Beloit Corp. were worth $1,669,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. FMR LLC raised its position in Regal Beloit Corp. by 336.2% in the second quarter. FMR LLC now owns 4,998,125 shares of the company’s stock valued at $275,146,000 after buying an additional 3,852,394 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in Regal Beloit Corp. during the second quarter valued at approximately $32,657,000. The Manufacturers Life Insurance Company bought a new position in Regal Beloit Corp. during the third quarter valued at approximately $32,360,000. Victory Capital Management Inc. bought a new position in Regal Beloit Corp. during the third quarter valued at approximately $25,831,000. Finally, AQR Capital Management LLC raised its position in Regal Beloit Corp. by 238.3% in the second quarter. AQR Capital Management LLC now owns 404,848 shares of the company’s stock valued at $22,287,000 after buying an additional 285,182 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.
Shares of Regal Beloit Corp. (NYSE:RBC) traded up 0.63% during mid-day trading on Thursday, reaching $71.65. 126,681 shares of the company’s stock were exchanged. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 23.29 and a beta of 1.61. The stock has a 50 day moving average price of $71.85 and a 200 day moving average price of $63.81. Regal Beloit Corp. has a 52 week low of $47.77 and a 52 week high of $75.60.
Regal Beloit Corp. (NYSE:RBC) last posted its quarterly earnings data on Monday, November 7th. The company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The business had revenue of $809.60 million for the quarter, compared to analyst estimates of $826.04 million. Regal Beloit Corp. had a return on equity of 10.01% and a net margin of 4.27%. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.43 earnings per share. Equities research analysts predict that Regal Beloit Corp. will post $4.44 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Wednesday, December 28th. Regal Beloit Corp.’s payout ratio is currently 31.17%.
Several research analysts have recently commented on the company. Zacks Investment Research lowered Regal Beloit Corp. from a “hold” rating to a “sell” rating in a report on Tuesday. BMO Capital Markets reiterated a “hold” rating on shares of Regal Beloit Corp. in a report on Tuesday, November 8th. KeyCorp reiterated a “hold” rating on shares of Regal Beloit Corp. in a report on Monday, October 10th. Finally, Seaport Global Securities lowered Regal Beloit Corp. from an “accumulate” rating to a “neutral” rating and reduced their price target for the stock from $68.00 to $64.00 in a report on Tuesday, September 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $63.50.
In related news, VP John Avampato sold 626 shares of the stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $69.26, for a total transaction of $43,356.76. Following the sale, the vice president now owns 13,097 shares of the company’s stock, valued at $907,098.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by company insiders.
Regal Beloit Corp. 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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