Wasatch Advisors Inc. lifted its position in RBC Bearings Incorporated (NASDAQ:ROLL) by 15.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 995,306 shares of the industrial products company’s stock after purchasing an additional 136,604 shares during the quarter. RBC Bearings comprises about 1.7% of Wasatch Advisors Inc.’s holdings, making the stock its 11th biggest holding. Wasatch Advisors Inc. owned approximately 4.10% of RBC Bearings worth $124,563,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Strs Ohio grew its holdings in shares of RBC Bearings by 71.4% in the second quarter. Strs Ohio now owns 1,200 shares of the industrial products company’s stock valued at $122,000 after purchasing an additional 500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in RBC Bearings by 106.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,237 shares of the industrial products company’s stock valued at $126,000 after buying an additional 637 shares during the last quarter. SG Americas Securities LLC acquired a new position in RBC Bearings in the third quarter valued at about $189,000. Victory Capital Management Inc. lifted its position in RBC Bearings by 17.5% in the second quarter. Victory Capital Management Inc. now owns 2,024 shares of the industrial products company’s stock valued at $206,000 after buying an additional 302 shares during the last quarter. Finally, Comerica Bank acquired a new position in RBC Bearings in the third quarter valued at about $230,000. 98.54% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have commented on ROLL. Zacks Investment Research cut shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Bank of America Corporation upped their target price on shares of RBC Bearings from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Finally, BidaskClub raised shares of RBC Bearings from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th.
In other news, VP Thomas C. Crainer sold 15,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $120.76, for a total transaction of $1,811,400.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Richard J. Edwards sold 10,000 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $121.54, for a total transaction of $1,215,400.00. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.
RBC Bearings Incorporated (ROLL) traded up $2.52 during midday trading on Tuesday, reaching $127.49. 90,800 shares of the company’s stock were exchanged, compared to its average volume of 87,472. RBC Bearings Incorporated has a 52 week low of $80.22 and a 52 week high of $135.54. The company has a debt-to-equity ratio of 0.26, a current ratio of 4.68 and a quick ratio of 1.64. The firm has a market capitalization of $3,029.92, a PE ratio of 37.08, a P/E/G ratio of 5.86 and a beta of 1.34.
RBC Bearings (NASDAQ:ROLL) last posted its earnings results on Friday, November 3rd. The industrial products company reported $0.83 EPS for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.02). RBC Bearings had a net margin of 11.18% and a return on equity of 11.10%. The company had revenue of $164.30 million during the quarter, compared to analyst estimates of $164.56 million. During the same period in the previous year, the company earned $0.78 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. equities research analysts anticipate that RBC Bearings Incorporated will post 3.63 EPS for the current fiscal year.
RBC Bearings Company Profile
RBC Bearings Incorporated is an international manufacturer and marketer of engineered precision bearings and products, which are integral to the manufacture and operation of machines, aircraft and mechanical systems. The Company operates through four segments: Plain Bearings; Roller Bearings; Ball Bearings, and Engineered Products.
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