BB&T Corp boosted its stake in RBC Bearings Incorporated (NASDAQ:ROLL) by 18.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,174 shares of the industrial products company’s stock after purchasing an additional 819 shares during the period. BB&T Corp’s holdings in RBC Bearings were worth $858,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. YorkBridge Wealth Partners LLC increased its holdings in RBC Bearings by 9.1% in the second quarter. YorkBridge Wealth Partners LLC now owns 914 shares of the industrial products company’s stock valued at $152,000 after purchasing an additional 76 shares during the period. Bridge City Capital LLC grew its holdings in RBC Bearings by 0.5% during the 2nd quarter. Bridge City Capital LLC now owns 19,132 shares of the industrial products company’s stock worth $3,191,000 after acquiring an additional 94 shares during the period. Nisa Investment Advisors LLC grew its holdings in RBC Bearings by 3.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,450 shares of the industrial products company’s stock worth $572,000 after acquiring an additional 100 shares during the period. MML Investors Services LLC grew its holdings in RBC Bearings by 3.5% during the 2nd quarter. MML Investors Services LLC now owns 3,384 shares of the industrial products company’s stock worth $564,000 after acquiring an additional 116 shares during the period. Finally, We Are One Seven LLC grew its holdings in RBC Bearings by 4.0% during the 3rd quarter. We Are One Seven LLC now owns 3,261 shares of the industrial products company’s stock worth $541,000 after acquiring an additional 126 shares during the period. Institutional investors and hedge funds own 99.23% of the company’s stock.
A number of analysts have weighed in on the company. ValuEngine upgraded RBC Bearings from a “hold” rating to a “buy” rating in a report on Monday, November 4th. BidaskClub downgraded RBC Bearings from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. RBC Bearings presently has a consensus rating of “Hold” and an average target price of $161.33.
Shares of RBC Bearings stock opened at $167.31 on Friday. The company has a current ratio of 5.14, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $161.81 and a two-hundred day moving average price of $155.80. RBC Bearings Incorporated has a 1-year low of $123.50 and a 1-year high of $171.54. The company has a market cap of $4.09 billion, a P/E ratio of 34.57, a PEG ratio of 5.31 and a beta of 1.19.
RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings results on Friday, November 1st. The industrial products company reported $1.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.08. RBC Bearings had a return on equity of 12.61% and a net margin of 15.23%. The firm had revenue of $181.91 million during the quarter, compared to the consensus estimate of $180.93 million. During the same period last year, the business posted $1.22 EPS. The business’s revenue was up 5.2% compared to the same quarter last year. Equities research analysts forecast that RBC Bearings Incorporated will post 5.24 EPS for the current fiscal year.
In other news, VP Richard J. Edwards sold 16,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $158.08, for a total transaction of $2,529,280.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas J. Obrien sold 6,500 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $158.02, for a total transaction of $1,027,130.00. The disclosure for this sale can be found here. Insiders have sold a total of 87,056 shares of company stock worth $13,833,677 in the last three months. Insiders own 3.50% of the company’s stock.
About RBC Bearings
RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in North America, Europe, Asia, and Latin America. It operates in four segments: Plain Bearings, Roller Bearings, Ball Bearings, and Engineered Products. The Plain Bearings segment produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings that are primarily used to rectify inevitable misalignments in various mechanical components, such as aircraft controls, helicopter rotors, or in heavy mining and construction equipment.
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