Amalgamated Bank lowered its position in RBC Bearings Incorporated (NASDAQ:ROLL) by 0.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,780 shares of the industrial products company’s stock after selling 7 shares during the period. Amalgamated Bank’s holdings in RBC Bearings were worth $270,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in ROLL. BlackRock Inc. increased its stake in RBC Bearings by 90,578.3% in the first quarter. BlackRock Inc. now owns 1,794,523 shares of the industrial products company’s stock worth $174,231,000 after buying an additional 1,792,544 shares in the last quarter. Geode Capital Management LLC increased its stake in RBC Bearings by 7.2% in the first quarter. Geode Capital Management LLC now owns 194,578 shares of the industrial products company’s stock worth $18,891,000 after buying an additional 13,131 shares in the last quarter. Vanguard Group Inc. increased its stake in RBC Bearings by 5.7% in the first quarter. Vanguard Group Inc. now owns 1,804,750 shares of the industrial products company’s stock worth $175,223,000 after buying an additional 96,915 shares in the last quarter. Ngam Advisors L.P. increased its stake in RBC Bearings by 28.1% in the first quarter. Ngam Advisors L.P. now owns 93,643 shares of the industrial products company’s stock worth $9,092,000 after buying an additional 20,545 shares in the last quarter. Finally, EULAV Asset Management increased its stake in RBC Bearings by 6.6% in the first quarter. EULAV Asset Management now owns 50,100 shares of the industrial products company’s stock worth $4,864,000 after buying an additional 3,100 shares in the last quarter.
Shares of RBC Bearings Incorporated (ROLL) traded up 1.01% during mid-day trading on Wednesday, hitting $106.41. 57,081 shares of the company’s stock traded hands. RBC Bearings Incorporated has a 1-year low of $67.99 and a 1-year high of $111.04. The stock has a 50 day moving average price of $103.57 and a 200-day moving average price of $98.69. The stock has a market cap of $2.53 billion, a P/E ratio of 34.19 and a beta of 1.30.
RBC Bearings (NASDAQ:ROLL) last posted its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.82 by $0.09. The business had revenue of $163.90 million during the quarter, compared to analysts’ expectations of $160.42 million. RBC Bearings had a net margin of 11.91% and a return on equity of 11.25%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company posted $0.77 earnings per share. Equities research analysts anticipate that RBC Bearings Incorporated will post $3.63 EPS for the current fiscal year.
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A number of research firms recently commented on ROLL. Zacks Investment Research raised shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $119.00 price objective on the stock in a report on Thursday, August 10th. BidaskClub downgraded shares of RBC Bearings from a “hold” rating to a “sell” rating in a report on Friday, July 28th.
In related news, VP Thomas C. Crainer sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $106.62, for a total transaction of $533,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas M. Burigo sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $104.95, for a total transaction of $1,049,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 135,425 shares of company stock valued at $14,249,574. 3.70% of the stock is currently owned by corporate insiders.
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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