Parametric Portfolio Associates LLC trimmed its holdings in RBC Bearings Incorporated (NASDAQ:ROLL) by 21.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,697 shares of the industrial products company’s stock after selling 12,583 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.19% of RBC Bearings worth $4,650,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in ROLL. Strs Ohio grew its position in shares of RBC Bearings by 71.4% during the 2nd quarter. Strs Ohio now owns 1,200 shares of the industrial products company’s stock worth $122,000 after buying an additional 500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in RBC Bearings by 106.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,237 shares of the industrial products company’s stock worth $126,000 after acquiring an additional 637 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of RBC Bearings by 6.3% during the 1st quarter. Victory Capital Management Inc. now owns 1,722 shares of the industrial products company’s stock worth $167,000 after purchasing an additional 102 shares in the last quarter. LLBH Private Wealth Management LLC bought a new stake in shares of RBC Bearings during the 2nd quarter worth approximately $254,000. Finally, Prudential Financial Inc. raised its stake in shares of RBC Bearings by 4.9% during the 2nd quarter. Prudential Financial Inc. now owns 2,638 shares of the industrial products company’s stock worth $268,000 after purchasing an additional 124 shares in the last quarter. 99.96% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on ROLL shares. BidaskClub cut RBC Bearings from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Zacks Investment Research lowered RBC Bearings from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Bank of America Corporation increased their target price on RBC Bearings from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday.
Shares of RBC Bearings Incorporated (NASDAQ:ROLL) traded up $0.72 during mid-day trading on Friday, reaching $122.67. The company’s stock had a trading volume of 70,600 shares, compared to its average volume of 87,861. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 4.68. RBC Bearings Incorporated has a 1-year low of $78.88 and a 1-year high of $135.54. The company has a market capitalization of $2,990.00, a P/E ratio of 36.19, a P/E/G ratio of 5.72 and a beta of 1.34.
RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings data on Friday, November 3rd. The industrial products company reported $0.83 EPS for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.02). The firm had revenue of $164.30 million during the quarter, compared to analyst estimates of $164.56 million. RBC Bearings had a net margin of 11.18% and a return on equity of 11.10%. The company’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the business posted $0.78 EPS. research analysts predict that RBC Bearings Incorporated will post 3.63 EPS for the current year.
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RBC Bearings 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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