market folly

Ricky Sandler's hedge fund firm Eminence Capital has filed a 13G with the SEC regarding shares of Rexnord (RXN).  Per the filing, Eminence now owns 6.8% of the company with over 7 million shares.

This is up from the 808,426 shares they owned at the end of 2016, so a significant increase.  The filing was made due to activity on February 27th.

You can view other recent portfolio activity from Eminence Capital here.

Per Google Finance, 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 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."