Opus Capital Group LLC Reduces Stake in Regal Beloit Corp (NYSE:RBC)

Opus Capital Group LLC decreased its holdings in Regal Beloit Corp (NYSE:RBC) by 88.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,574 shares of the industrial products company’s stock after selling 19,782 shares during the quarter. Opus Capital Group LLC’s holdings in Regal Beloit were worth $211,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of RBC. Norges Bank acquired a new position in Regal Beloit in the fourth quarter worth approximately $47,865,000. Thrivent Financial for Lutherans grew its position in Regal Beloit by 2,513.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 398,298 shares of the industrial products company’s stock worth $27,958,000 after buying an additional 383,060 shares during the last quarter. Bank of Montreal Can grew its position in Regal Beloit by 152.3% in the first quarter. Bank of Montreal Can now owns 550,153 shares of the industrial products company’s stock worth $45,040,000 after buying an additional 332,128 shares during the last quarter. LSV Asset Management grew its position in Regal Beloit by 23.5% in the fourth quarter. LSV Asset Management now owns 1,712,551 shares of the industrial products company’s stock worth $119,964,000 after buying an additional 325,400 shares during the last quarter. Finally, BlackRock Inc. grew its position in Regal Beloit by 3.0% in the fourth quarter. BlackRock Inc. now owns 4,559,846 shares of the industrial products company’s stock worth $319,416,000 after buying an additional 131,813 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Several equities analysts have weighed in on RBC shares. Zacks Investment Research upgraded shares of Regal Beloit from a “sell” rating to a “hold” rating in a research report on Monday, May 6th. Royal Bank of Canada reiterated a “hold” rating on shares of Regal Beloit in a research report on Tuesday, May 7th. BMO Capital Markets lowered their price objective on shares of Regal Beloit from $95.00 to $93.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 8th. Finally, Wells Fargo & Co lifted their price objective on shares of Regal Beloit from $75.00 to $85.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 6th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Regal Beloit presently has an average rating of “Hold” and a consensus target price of $92.50.

NYSE RBC traded down $0.31 on Friday, hitting $74.52. 120,000 shares of the stock were exchanged, compared to its average volume of 219,752. Regal Beloit Corp has a 52-week low of $66.04 and a 52-week high of $87.31. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.53 and a current ratio of 2.71. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.19 and a beta of 1.54.

Regal Beloit (NYSE:RBC) last issued its earnings results on Monday, May 6th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.02. The company had revenue of $853.80 million during the quarter, compared to analyst estimates of $882.61 million. Regal Beloit had a net margin of 7.15% and a return on equity of 11.24%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the business posted $1.34 EPS. On average, research analysts forecast that Regal Beloit Corp will post 6.37 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.61%. This is a positive change from Regal Beloit’s previous quarterly dividend of $0.28. Regal Beloit’s dividend payout ratio (DPR) is 18.67%.

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Regal Beloit Company Profile

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.

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

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