LSV Asset Management Raises Position in Regal Beloit Corporation (RBC)

LSV Asset Management increased its stake in shares of Regal Beloit Corporation (NYSE:RBC) by 2,561.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,600 shares of the industrial products company’s stock after acquiring an additional 33,300 shares during the quarter. LSV Asset Management owned about 0.08% of Regal Beloit Corporation worth $2,821,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of RBC. Nisa Investment Advisors LLC boosted its position in shares of Regal Beloit Corporation by 119.0% during the first quarter. Nisa Investment Advisors LLC now owns 4,600 shares of the industrial products company’s stock worth $348,000 after acquiring an additional 2,500 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Regal Beloit Corporation by 13.4% during the first quarter. Russell Investments Group Ltd. now owns 8,501 shares of the industrial products company’s stock worth $645,000 after acquiring an additional 1,004 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Regal Beloit Corporation by 1.8% during the first quarter. Great West Life Assurance Co. Can now owns 26,333 shares of the industrial products company’s stock worth $1,989,000 after acquiring an additional 468 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Regal Beloit Corporation by 127.7% during the first quarter. American Century Companies Inc. now owns 74,903 shares of the industrial products company’s stock worth $5,666,000 after acquiring an additional 42,007 shares during the last quarter. Finally, US Bancorp DE boosted its position in shares of Regal Beloit Corporation by 2.6% during the first quarter. US Bancorp DE now owns 6,403 shares of the industrial products company’s stock worth $484,000 after acquiring an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Regal Beloit Corporation (NYSE RBC) opened at 78.30 on Wednesday. The firm’s 50-day moving average is $77.49 and its 200 day moving average is $78.76. The company has a market cap of $3.49 billion, a price-to-earnings ratio of 17.28 and a beta of 1.52. Regal Beloit Corporation has a 52-week low of $56.45 and a 52-week high of $87.50.

Regal Beloit Corporation (NYSE:RBC) last released its earnings results on Monday, August 7th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.01. Regal Beloit Corporation had a net margin of 6.29% and a return on equity of 9.88%. The business had revenue of $869.20 million during the quarter, compared to analyst estimates of $854.66 million. During the same quarter in the prior year, the firm earned $1.14 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities research analysts predict that Regal Beloit Corporation will post $4.86 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Thursday, September 28th. Regal Beloit Corporation’s payout ratio is 22.96%.

In other news, Director Henry W. Knueppel sold 20,000 shares of the company’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $85.00, for a total transaction of $1,700,000.00. Following the completion of the sale, the director now owns 3,726 shares of the company’s stock, valued at $316,710. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.20% of the stock is owned by corporate insiders.

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A number of brokerages recently weighed in on RBC. BidaskClub lowered shares of Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Stifel Nicolaus restated a “hold” rating and set a $85.00 target price on shares of Regal Beloit Corporation in a research report on Wednesday, July 19th. Jefferies Group LLC reiterated a “hold” rating and set a $80.00 price objective on shares of Regal Beloit Corporation in a research report on Friday, July 14th. Wolfe Research initiated coverage on shares of Regal Beloit Corporation in a research report on Tuesday, July 11th. They set a “market perform” rating for the company. Finally, Zacks Investment Research lowered shares of Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research report on Monday, June 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $83.00.

Regal Beloit Corporation Profile

Regal Beloit Corporation is a manufacturer of electric motors, electrical motion controls, power generation and power transmission products. The Company operates through three segments: the Commercial and Industrial Systems segment, with its principal line of business in medium and large electric motors, power generation products, high-performance drives and controls and capacitors; the Climate Solutions segment, with its principal line of business in small motors, controls and air moving products, and the Power Transmission Solutions segment, with its principal line of business in power transmission gearing, hydraulic pump drives, open gearing and specialty mechanical products which control motion and torque.

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

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