Today: Today: Regal Beloit Corp. (RBC) Stake Decreased by Olstein Capital Management L.P.

Today: Regal Beloit Corp. (RBC) Stake Decreased by Olstein Capital Management L.P.

Olstein Capital Management L.P. cut its stake in Regal Beloit Corp. (NYSE:RBC) by 5.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 212,900 shares of the company’s stock after selling 12,630 shares during the period. Regal Beloit Corp. accounts for 1.7% of Olstein Capital Management L.P.’s portfolio, making the stock its 14th largest position. Olstein Capital Management L.P. owned approximately 0.48% of Regal Beloit Corp. worth $12,665,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Sei Investments Co. boosted its stake in shares of Regal Beloit Corp. by 412.5% in the third quarter. Sei Investments Co. now owns 36,104 shares of the company’s stock valued at $2,147,000 after buying an additional 29,060 shares during the period. US Bancorp DE boosted its stake in shares of Regal Beloit Corp. by 5.1% in the third quarter. US Bancorp DE now owns 5,812 shares of the company’s stock valued at $346,000 after buying an additional 282 shares during the period. UBS Asset Management Americas Inc. boosted its stake in shares of Regal Beloit Corp. by 38.3% in the third quarter. UBS Asset Management Americas Inc. now owns 71,813 shares of the company’s stock valued at $4,272,000 after buying an additional 19,890 shares during the period. Lucus Advisors LLC acquired a new stake in shares of Regal Beloit Corp. during the third quarter valued at approximately $395,000. Finally, AMG National Trust Bank boosted its stake in shares of Regal Beloit Corp. by 1.2% in the third quarter. AMG National Trust Bank now owns 8,057 shares of the company’s stock valued at $479,000 after buying an additional 94 shares during the period. 91.33% of the stock is owned by institutional investors and hedge funds.

Regal Beloit Corp. (NYSE:RBC) opened at 72.55 on Monday. The stock has a 50 day moving average price of $62.69 and a 200-day moving average price of $59.80. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 23.58 and a beta of 1.53. Regal Beloit Corp. has a 1-year low of $47.77 and a 1-year high of $73.00.

Regal Beloit Corp. (NYSE:RBC) last released its quarterly earnings data on Monday, November 7th. The company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.06. Regal Beloit Corp. had a net margin of 4.27% and a return on equity of 10.01%. The business earned $809.60 million during the quarter, compared to analysts’ expectations of $826.04 million. During the same quarter in the prior year, the company earned $1.43 EPS. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. Equities analysts predict that Regal Beloit Corp. will post $4.44 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, December 30th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Wednesday, December 28th. Regal Beloit Corp.’s dividend payout ratio is currently 31.17%.

Several brokerages have recently commented on RBC. BMO Capital Markets reaffirmed a “hold” rating on shares of Regal Beloit Corp. in a research report on Tuesday, November 8th. KeyCorp reissued a “hold” rating on shares of Regal Beloit Corp. in a research report on Monday, October 10th. Seaport Global Securities cut Regal Beloit Corp. from an “accumulate” rating to a “neutral” rating and reduced their price objective for the company from $68.00 to $64.00 in a research report on Tuesday, September 27th. Zacks Investment Research raised Regal Beloit Corp. from a “sell” rating to a “hold” rating in a research report on Monday, September 19th. Finally, TheStreet raised Regal Beloit Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, August 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $63.50.

In related news, VP John Avampato sold 626 shares of the company’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $69.26, for a total value of $43,356.76. Following the completion of the sale, the vice president now owns 13,097 shares in the company, valued at approximately $907,098.22. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by corporate insiders.

About Regal Beloit Corp.

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