Stephens Investment Management Group LLC Sells 1,540 Shares of RBC Bearings Incorporated (ROLL)

Stephens Investment Management Group LLC cut its holdings in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 0.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 202,812 shares of the industrial products company’s stock after selling 1,540 shares during the period. Stephens Investment Management Group LLC owned approximately 0.85% of RBC Bearings worth $20,638,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC lifted its stake in RBC Bearings by 2.4% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,258,487 shares of the industrial products company’s stock valued at $229,824,000 after purchasing an additional 53,909 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in RBC Bearings by 1.9% during the first quarter. Neuberger Berman Group LLC now owns 2,037,896 shares of the industrial products company’s stock valued at $197,859,000 after purchasing an additional 37,591 shares during the last quarter. Vanguard Group Inc. lifted its stake in RBC Bearings by 5.7% during the first quarter. Vanguard Group Inc. now owns 1,804,750 shares of the industrial products company’s stock valued at $175,223,000 after purchasing an additional 96,915 shares during the last quarter. BlackRock Inc. lifted its stake in RBC Bearings by 90,578.3% during the first quarter. BlackRock Inc. now owns 1,794,523 shares of the industrial products company’s stock valued at $174,231,000 after purchasing an additional 1,792,544 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in RBC Bearings by 4.5% during the first quarter. JPMorgan Chase & Co. now owns 1,390,763 shares of the industrial products company’s stock valued at $135,029,000 after purchasing an additional 59,973 shares during the last quarter. 99.87% of the stock is owned by institutional investors and hedge funds.

RBC Bearings Incorporated (NASDAQ ROLL) traded up 0.38% during mid-day trading on Tuesday, reaching $110.77. 9,381 shares of the company traded hands. The stock’s 50-day moving average price is $106.21 and its 200-day moving average price is $100.50. The firm has a market cap of $2.64 billion, a PE ratio of 35.59 and a beta of 1.30. RBC Bearings Incorporated has a one year low of $67.99 and a one year high of $116.88.

RBC Bearings (NASDAQ:ROLL) last issued its earnings results on Tuesday, August 8th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.09. The company had revenue of $163.90 million for the quarter, compared to analyst estimates of $160.42 million. RBC Bearings had a net margin of 11.91% and a return on equity of 11.25%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 EPS. Analysts forecast that RBC Bearings Incorporated will post $3.66 earnings per share for the current fiscal year.

ROLL has been the subject of several recent research reports. Zacks Investment Research raised shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Friday, August 25th. BidaskClub raised shares of RBC Bearings from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th.

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In other news, VP Richard J. Edwards sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $104.19, for a total value of $1,041,900.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael J. Hartnett sold 26,745 shares of the firm’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $103.84, for a total transaction of $2,777,200.80. The disclosure for this sale can be found here. Insiders sold a total of 81,063 shares of company stock worth $8,477,990 in the last ninety days. Insiders own 3.70% 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.

Institutional Ownership by Quarter for RBC Bearings (NASDAQ:ROLL)

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