Bridge City Capital LLC Decreases Stock Position in RBC Bearings Incorporated (NASDAQ:ROLL)

Bridge City Capital LLC cut its position in RBC Bearings Incorporated (NASDAQ:ROLL) by 3.4% in the 2nd quarter, Holdings reports. The firm owned 21,130 shares of the industrial products company’s stock after selling 736 shares during the quarter. RBC Bearings comprises 1.4% of Bridge City Capital LLC’s holdings, making the stock its 24th largest position. Bridge City Capital LLC’s holdings in RBC Bearings were worth $4,214,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Allred Capital Management LLC purchased a new position in shares of RBC Bearings in the first quarter valued at $25,000. Eagle Bay Advisors LLC purchased a new position in shares of RBC Bearings in the second quarter valued at $27,000. Van ECK Associates Corp bought a new position in RBC Bearings during the 1st quarter valued at $28,000. Cullen Frost Bankers Inc. bought a new position in RBC Bearings during the 2nd quarter valued at $41,000. Finally, Fifth Third Bancorp boosted its stake in RBC Bearings by 26.6% during the 1st quarter. Fifth Third Bancorp now owns 385 shares of the industrial products company’s stock valued at $76,000 after acquiring an additional 81 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

A number of research firms have commented on ROLL. Zacks Investment Research downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating and set a $211.00 price objective on the stock. in a research note on Tuesday, July 6th. Truist increased their price objective on shares of RBC Bearings from $175.00 to $225.00 and gave the company a “hold” rating in a research note on Tuesday, July 27th. They noted that the move was a valuation call.

Shares of RBC Bearings stock traded down $29.56 during trading hours on Tuesday, reaching $185.99. The company’s stock had a trading volume of 30,089 shares, compared to its average volume of 97,304. The company’s 50 day simple moving average is $221.23 and its 200 day simple moving average is $205.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.36 and a current ratio of 8.23. RBC Bearings Incorporated has a one year low of $113.40 and a one year high of $250.52. The stock has a market cap of $4.73 billion, a P/E ratio of 50.43 and a beta of 1.38.

RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings data on Thursday, August 5th. The industrial products company reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.04. RBC Bearings had a net margin of 15.27% and a return on equity of 8.16%. The business had revenue of $156.21 million for the quarter, compared to analysts’ expectations of $159.26 million. On average, sell-side analysts predict that RBC Bearings Incorporated will post 4.49 earnings per share for the current fiscal year.

In related news, CEO Michael J. Hartnett sold 740 shares of the stock in a transaction dated Thursday, June 24th. The shares were sold at an average price of $200.00, for a total value of $148,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.70% of the stock is owned by company insiders.

About RBC Bearings

RBC Bearings, Inc engages in the design, manufacture, and marketing of engineered precision bearings and products. It operates through the following segments: Plain Bearings, Roller Bearings, Ball Bearings and Engineered Products. The Plain Bearings segment produces self-lubricating, metal-to-metal designs and other sub-classes, including rod end bearings, spherical plain bearings, and journal bearings.

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

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