United Services Automobile Association Sells 2,500 Shares of RBC Bearings Incorporated (ROLL)
United Services Automobile Association lowered its position in RBC Bearings Incorporated (NASDAQ:ROLL) by 6.6% during the first quarter, Holdings Channel reports. The firm owned 35,214 shares of the industrial products company’s stock after selling 2,500 shares during the period. United Services Automobile Association’s holdings in RBC Bearings were worth $3,419,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its position in RBC Bearings by 4.0% in the fourth quarter. State Street Corp now owns 403,598 shares of the industrial products company’s stock worth $37,463,000 after buying an additional 15,394 shares during the period. Russell Investments Group Ltd. bought a new position in RBC Bearings during the fourth quarter worth about $180,000. Envestnet Asset Management Inc. boosted its position in RBC Bearings by 6.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 23,279 shares of the industrial products company’s stock worth $2,159,000 after buying an additional 1,337 shares during the period. Suntrust Banks Inc. boosted its position in RBC Bearings by 2.3% in the first quarter. Suntrust Banks Inc. now owns 4,703 shares of the industrial products company’s stock worth $455,000 after buying an additional 107 shares during the period. Finally, Norges Bank bought a new position in RBC Bearings during the fourth quarter worth about $14,820,000. 99.43% of the stock is currently owned by institutional investors.
Shares of RBC Bearings Incorporated (NASDAQ:ROLL) traded down 1.38% during trading on Tuesday, reaching $103.97. 6,747 shares of the company traded hands. The firm’s 50 day moving average is $102.07 and its 200-day moving average is $95.25. RBC Bearings Incorporated has a 12-month low of $67.99 and a 12-month high of $108.39. The stock has a market capitalization of $2.47 billion, a P/E ratio of 35.01 and a beta of 1.28.
RBC Bearings (NASDAQ:ROLL) last announced its earnings results on Wednesday, May 31st. The industrial products company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.02. RBC Bearings had a net margin of 11.48% and a return on equity of 11.12%. The business had revenue of $160.20 million during the quarter, compared to analysts’ expectations of $161.08 million. During the same period in the prior year, the company earned $0.86 earnings per share. The firm’s revenue was down 1.3% on a year-over-year basis. On average, equities research analysts anticipate that RBC Bearings Incorporated will post $3.57 earnings per share for the current fiscal year.
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Separately, Zacks Investment Research raised shares of RBC Bearings from a “sell” rating to a “hold” rating in a research report on Wednesday, March 29th.
In other news, insider Thomas M. Burigo sold 10,000 shares of the stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $104.95, for a total value of $1,049,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Hartnett sold 25,802 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $106.64, for a total transaction of $2,751,525.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 102,823 shares of company stock valued at $10,816,530. 4.40% of the stock is owned by corporate 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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