Rexnord Corporation (RXN) : 3 days before expiry, shorts in Rexnord Corporation (RXN) have reduced from 1,683,192 on Jul 29, 2016, to 1,600,844 on August 15, 2016. On an average, 542,827 shares are traded on the exchange. The outstanding bearish positions are equal to 1.6% of the float. Short sellers have covered -82,348 shares, a reduction of -4.9%, which underlines that they dont expect the stock to fall further from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Rexnord Corporation (NYSE:RXN): The stock opened at $22.23 on Wednesday but the bulls could not build on the opening and the stock topped out at $22.25 for the day. The stock traded down to $21.84 during the day, due to lack of any buying support eventually closed down at $21.94 with a loss of -1.44% for the day. The stock had closed at $22.26 on the previous day. The total traded volume was 402,678 shares.
In a related news, Longren David C., director of Rexnord Corp had purchased 2,000 shares on August 11, 2016 in a transaction. The price per share was $21.39 and the total amount of the disclosed transaction was $42,780.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.
Rexnord Corporation (Rexnord) is a multi-platform industrial company. The Company operates through two segments: Process & Motion Control platform, and Water Management platform. The Process & Motion Control platform designs, manufactures, markets and services engineered mechanical components, such as gears and gear drives, couplings, industrial bearings, FlatTop and engineered chain, aerospace bearings and seals, under various brands, including Rexnord, Rex, Falk and Link-Belt. The Water Management platform designs, procures, manufactures and markets products that provide water quality, safety, flow control and conservation under brands, such as Zurn, Wilkins, VAG, GA, Rodney Hunt and Fontaine. The Water Management product portfolio includes specification drainage products, sensor flush valves and faucet products, pressure release valves, sluice and slide gates, butterfly and plug valves, control valves and actuation systems, and cross-linked polyethylene (PEX) piping.