Amalgamated Bank cut its stake in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 0.3% during the first quarter, according to its most recent Form 13F 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.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ROLL. BlackRock Inc. increased its position 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 valued at $174,231,000 after buying an additional 1,792,544 shares in the last quarter. Geode Capital Management LLC increased its position 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 valued at $18,891,000 after buying an additional 13,131 shares in the last quarter. Vanguard Group Inc. increased its position 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 valued at $175,223,000 after buying an additional 96,915 shares in the last quarter. Ngam Advisors L.P. increased its position 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 valued at $9,092,000 after buying an additional 20,545 shares in the last quarter. Finally, EULAV Asset Management increased its position 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 valued at $4,864,000 after buying an additional 3,100 shares in the last quarter. 99.55% of the stock is owned by institutional investors.
RBC Bearings Incorporated (NASDAQ:ROLL) opened at 103.86 on Friday. The stock has a 50 day moving average price of $103.46 and a 200 day moving average price of $97.09. RBC Bearings Incorporated has a 1-year low of $67.99 and a 1-year high of $108.39. The firm has a market cap of $2.47 billion, a P/E ratio of 34.97 and a beta of 1.30.
RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings data on Wednesday, May 31st. The industrial products company reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.02. The company had revenue of $160.20 million for the quarter, compared to analysts’ expectations of $161.08 million. RBC Bearings had a return on equity of 11.12% and a net margin of 11.48%. RBC Bearings’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period last year, the firm posted $0.86 EPS. On average, analysts anticipate that RBC Bearings Incorporated will post $3.57 EPS for the current year.
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Separately, Zacks Investment Research downgraded RBC Bearings from a “buy” rating to a “hold” rating in a research note on Monday, June 5th.
In related news, CEO Michael J. Hartnett sold 9,077 shares of the firm’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $105.67, for a total transaction of $959,166.59. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas M. Burigo sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $104.95, for a total value of $1,049,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,425 shares of company stock worth $14,249,574. 4.40% of the stock is currently owned by insiders.
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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