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Rexnord Corporation

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In the last three months, shares of Rexnord Corporation have outperformed the industry. We believe that the company has the potential to expand its businesses by leveraging the accelerated demand from non-residential construction markets in the U.S. For fiscal 2018, the company anticipates benefiting from innovation of new products, cost-control measures and strengthening consumer driven end markets. Also, it is on track to reap benefits from its supply-chain optimization and footprint-repositioning programs completed in the fiscal first quarter. However, the company is exposed to industry rivalry, forex woes and uncertain economic conditions. Adverse foreign currency movements had a negative 1% impact on sales in the fiscal first quarter.

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