Nationwide Fund Advisors increased its holdings in RBC Bearings Incorporated (NASDAQ:ROLL) by 5.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,286 shares of the industrial products company’s stock after buying an additional 9,680 shares during the period. Nationwide Fund Advisors owned about 0.74% of RBC Bearings worth $22,187,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Jennison Associates LLC boosted its position in shares of RBC Bearings by 0.3% in the 2nd quarter. Jennison Associates LLC now owns 15,068 shares of the industrial products company’s stock worth $1,533,000 after buying an additional 48 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of RBC Bearings by 4.9% in the 2nd quarter. Prudential Financial Inc. now owns 2,638 shares of the industrial products company’s stock worth $268,000 after buying an additional 124 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of RBC Bearings by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,650 shares of the industrial products company’s stock worth $1,796,000 after buying an additional 146 shares in the last quarter. Legal & General Group Plc boosted its position in shares of RBC Bearings by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 8,312 shares of the industrial products company’s stock worth $845,000 after buying an additional 153 shares in the last quarter. Finally, Amalgamated Bank boosted its position in shares of RBC Bearings by 6.7% in the 2nd quarter. Amalgamated Bank now owns 2,965 shares of the industrial products company’s stock worth $302,000 after buying an additional 185 shares in the last quarter. Institutional investors and hedge funds own 98.54% of the company’s stock.
Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Monday, September 25th. BidaskClub upgraded shares of RBC Bearings from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Finally, 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 report on Wednesday, November 8th.
In other RBC Bearings news, VP Thomas C. Crainer sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $120.76, for a total value of $1,811,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Richard J. Edwards sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were 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. 3.70% of the stock is currently owned by corporate insiders.
RBC Bearings Incorporated (NASDAQ ROLL) opened at $126.25 on Monday. The stock has a market cap of $3,060.93, a PE ratio of 37.46, a price-to-earnings-growth ratio of 5.92 and a beta of 1.34. The company has a quick ratio of 1.64, a current ratio of 4.68 and a debt-to-equity ratio of 0.26. RBC Bearings Incorporated has a 1-year low of $82.83 and a 1-year high of $135.54.
RBC Bearings (NASDAQ:ROLL) last released its earnings results on Friday, November 3rd. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.02). The firm had revenue of $164.30 million during the quarter, compared to analysts’ expectations of $164.56 million. RBC Bearings had a net margin of 11.18% and a return on equity of 11.10%. RBC Bearings’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the company posted $0.78 earnings per share. equities research analysts predict that RBC Bearings Incorporated will post 3.63 earnings per share for the current year.
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About RBC Bearings
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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