Jpmorgan Chase & Co. Picked Up Rexnord Corp (NYSE:RXN) Shares

0
392

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Rexnord Corp (NYSE:RXN) reported that Jpmorgan Chase & Co. has picked up 131,326 of common stock as of 2017-03-07.

The acquisition brings the aggregate amount owned by Jpmorgan Chase & Co. to a total of 131,326 representing a 0.1% stake in the company.

For those not familiar with the company, Rexnord Corporation 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 a range of engineered mechanical components used within systems. The Process & Motion Control portfolio includes motion control products, shaft management products, aerospace components and related value-added services. Its Process & Motion Control brands include Rexnord, Rex, Euroflex, Falk, FlatTop, Link-Belt, Thomas and Tollok. The Water Management platform designs, procures and markets products that provide and enhance water quality, safety, flow control and conservation. The Water Management product portfolio includes professional grade water control and safety, water distribution and drainage, finish plumbing and site works products. Its products are marketed and sold under various brand names, including Zurn, Wilkins and VAG.

A glance at Rexnord Corp (NYSE:RXN)’s key stats reveals a current market capitalization of 2.37 billion based on 103.42 Million shares outstanding and a price at last close of $23.02 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-08-11, Longren picked up 2,000 at a purchase price of $21.39. This brings their total holding to 8,467 as of the date of the filing.

On the sell side, the most recent transaction saw Adams unload 32,925 shares at a sale price of $22.35. This brings their total holding to 91,275.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Rexnord Corp (NYSE:RXN) as things move forward to see if its progress aligns with these transactions.

Subscribe below and we’ll keep you on top of what’s happening before it moves markets.