Public Employees Retirement Association of Colorado decreased its stake in RBC Bearings Inc. (NASDAQ:ROLL) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,789 shares of the company’s stock after selling 260 shares during the period. Public Employees Retirement Association of Colorado’s holdings in RBC Bearings were worth $9,410,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ROLL. BlackRock Inc. raised its stake in shares of RBC Bearings by 111.7% in the first quarter. BlackRock Inc. now owns 1,647 shares of the company’s stock worth $121,000 after buying an additional 869 shares during the period. Checchi Capital Advisers LLC acquired a new stake in shares of RBC Bearings during the second quarter worth $206,000. Diversified Trust Co raised its stake in shares of RBC Bearings by 2.6% in the second quarter. Diversified Trust Co now owns 3,437 shares of the company’s stock worth $249,000 after buying an additional 87 shares during the period. Aperio Group LLC acquired a new stake in shares of RBC Bearings during the first quarter worth $262,000. Finally, BB&T Securities LLC raised its stake in shares of RBC Bearings by 9.9% in the first quarter. BB&T Securities LLC now owns 7,459 shares of the company’s stock worth $546,000 after buying an additional 670 shares during the period. Hedge funds and other institutional investors own 99.73% of the company’s stock.
Shares of RBC Bearings Inc. (NASDAQ:ROLL) traded down 2.77% during trading on Friday, reaching $71.29. The company’s stock had a trading volume of 87,759 shares. The firm has a market cap of $1.66 billion, a PE ratio of 24.50 and a beta of 1.19. The company’s 50 day moving average price is $76.34 and its 200 day moving average price is $74.89. RBC Bearings Inc. has a 12 month low of $54.38 and a 12 month high of $87.82.
RBC Bearings (NASDAQ:ROLL) last released its earnings results on Thursday, August 4th. The company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by $0.01. The company had revenue of $154.58 million for the quarter, compared to the consensus estimate of $152.83 million. RBC Bearings had a net margin of 11.24% and a return on equity of 12.05%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 earnings per share. On average, equities analysts predict that RBC Bearings Inc. will post $3.34 earnings per share for the current year.
A number of analysts recently commented on ROLL shares. Zacks Investment Research lowered RBC Bearings from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. Seaport Global Securities lowered RBC Bearings from an “accumulate” rating to a “neutral” rating and set a $73.00 price objective for the company. in a research report on Friday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. RBC Bearings has an average rating of “Hold” and a consensus price target of $75.60.
In other news, insider Michael J. Hartnett sold 6,742 shares of the company’s stock in a transaction on Tuesday, October 11th. The stock was sold at an average price of $76.12, for a total transaction of $513,201.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.40% of the company’s stock.
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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