Olstein Capital Management Lowers stake in Regal Beloit Corp (RBC)

Regal Beloit Corp (RBC) : Olstein Capital Management reduced its stake in Regal Beloit Corp by 10.82% during the most recent quarter end. The investment management company now holds a total of 225,530 shares of Regal Beloit Corp which is valued at $13,806,947 after selling 27,370 shares in Regal Beloit Corp , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Regal Beloit Corp makes up approximately 1.76% of Olstein Capital Management’s portfolio.

Other Hedge Funds, Including , Systematic Financial Management Lp reduced its stake in RBC by selling 2,049 shares or 0.82% in the most recent quarter. The Hedge Fund company now holds 247,268 shares of RBC which is valued at $15,137,747. Regal Beloit Corp makes up approx 0.20% of Systematic Financial Management Lp’s portfolio. Washington Capital Management Inc sold out all of its stake in RBC during the most recent quarter. The investment firm sold 13,861 shares of RBC which is valued $843,719. Neuberger Berman Group sold out all of its stake in RBC during the most recent quarter. The investment firm sold 3,809 shares of RBC which is valued $231,854. Quantitative Investment Management added RBC to its portfolio by purchasing 7,700 company shares during the most recent quarter which is valued at $454,993. Regal Beloit Corp makes up approx 0.02% of Quantitative Investment Management’s portfolio.Public Employees Retirement Association Of Colorado reduced its stake in RBC by selling 9 shares or 0.09% in the most recent quarter. The Hedge Fund company now holds 9,950 shares of RBC which is valued at $607,050.

Regal Beloit Corp opened for trading at $63.6 and hit $64.08 on the upside on Wednesday, eventually ending the session at $63.77, with a gain of 0.35% or 0.22 points. The heightened volatility saw the trading volume jump to 2,31,341 shares. Company has a market cap of $2,854 M.

On the company’s financial health, Regal Beloit Corp reported $1.14 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Aug 8, 2016. Analyst had a consensus of $1.24. The company had revenue of $838.60 million for the quarter, compared to analysts expectations of $854.65 million. The company’s revenue was down -11.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.53 EPS.

Investors should note that on Jul 29, 2016, Regal Beloit Corp announced a cash dividend of $0.2400. The company’s management has announced Sep 28, 2016 as the ex-dividend date and fixed the record date on Sep 30, 2016. The payable date has been fixed on Oct 14, 2016.

Regal Beloit Corporation is a global manufacturer electric motors and controls electric generators and controls and power transmission products. The Company operates through three segments: Commercial and Industrial Systems segment which designs manufactures and sells Fractional integral and large horsepower motors and controls electronic variable speed controls and blowers Solid state and electro-mechanical starters contactors relays variable frequency drives and motors artificial lift system pumping equipment Precision stator and rotor kits Hazardous duty motors and Electric generators; Climate Solutions segment which designs manufactures and sells Fractional motors electronic variable speed controls and blowers and Power Transmission Solutions segment which designs manufactures and markets enclosed gear drives gearmotors transmissions and custom open gearing used for motion control within complex equipment and systems.

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