RBC Bearings Inc. (ROLL) Shares Bought by Nationwide Fund Advisors
Nationwide Fund Advisors raised its stake in RBC Bearings Inc. (NASDAQ:ROLL) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 118,996 shares of the company’s stock after buying an additional 713 shares during the period. Nationwide Fund Advisors owned about 0.51% of RBC Bearings worth $8,627,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Loomis Sayles & Co. L P increased its position in RBC Bearings by 0.5% in the first quarter. Loomis Sayles & Co. L P now owns 741,550 shares of the company’s stock valued at $54,325,000 after buying an additional 3,900 shares in the last quarter. Goldman Sachs Group Inc. increased its position in RBC Bearings by 4.8% in the first quarter. Goldman Sachs Group Inc. now owns 605,407 shares of the company’s stock valued at $44,352,000 after buying an additional 27,632 shares in the last quarter. State Street Corp increased its position in RBC Bearings by 2.9% in the first quarter. State Street Corp now owns 387,345 shares of the company’s stock valued at $28,377,000 after buying an additional 10,746 shares in the last quarter. BB&T Securities LLC increased its position in RBC Bearings by 9.9% in the first quarter. BB&T Securities LLC now owns 7,459 shares of the company’s stock valued at $546,000 after buying an additional 670 shares in the last quarter. Finally, Royce & Associates LP increased its position in RBC Bearings by 2.4% in the first quarter. Royce & Associates LP now owns 976,971 shares of the company’s stock valued at $71,573,000 after buying an additional 22,900 shares in the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.
Shares of RBC Bearings Inc. (NASDAQ:ROLL) traded up 0.67% during mid-day trading on Wednesday, reaching $75.01. The company had a trading volume of 37,708 shares. The stock has a 50 day moving average price of $77.29 and a 200 day moving average price of $74.28. The firm has a market capitalization of $1.75 billion, a PE ratio of 25.78 and a beta of 1.11. RBC Bearings Inc. has a 12-month low of $54.38 and a 12-month high of $87.82.
RBC Bearings (NASDAQ:ROLL) last issued its earnings results on Thursday, August 4th. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.78 by $0.01. RBC Bearings had a return on equity of 12.05% and a net margin of 11.24%. The company earned $154.58 million during the quarter, compared to the consensus estimate of $152.83 million. During the same quarter in the prior year, the business earned $0.78 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities analysts forecast that RBC Bearings Inc. will post $3.34 earnings per share for the current year.
Several research analysts have recently issued reports on ROLL shares. Avondale Partners reaffirmed a “buy” rating and issued a $80.00 price objective on shares of RBC Bearings in a research note on Tuesday, May 24th. Zacks Investment Research raised RBC Bearings from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research note on Monday, May 30th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $74.80.
In other news, CEO Michael J. Hartnett sold 15,242 shares of RBC Bearings stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $72.90, for a total transaction of $1,111,141.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.40% of the company’s stock.
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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