Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 1.5% during the first quarter, HoldingsChannel reports. The firm owned 2,386,323 shares of the industrial products company’s stock after buying an additional 34,322 shares during the period. RBC Bearings accounts for 1.7% of Kayne Anderson Rudnick Investment Management LLC’s portfolio, making the stock its 15th largest position. Kayne Anderson Rudnick Investment Management LLC owned about 0.10% of RBC Bearings worth $303,469,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of ROLL. Virginia Retirement Systems ET AL increased its position in shares of RBC Bearings by 1.6% during the fourth quarter. Virginia Retirement Systems ET AL now owns 6,500 shares of the industrial products company’s stock worth $852,000 after acquiring an additional 100 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of RBC Bearings by 4.7% during the fourth quarter. Hsbc Holdings PLC now owns 4,960 shares of the industrial products company’s stock worth $651,000 after acquiring an additional 221 shares during the last quarter. MML Investors Services LLC purchased a new stake in shares of RBC Bearings during the fourth quarter worth about $345,000. Comerica Bank increased its position in shares of RBC Bearings by 6.9% during the fourth quarter. Comerica Bank now owns 1,894 shares of the industrial products company’s stock worth $257,000 after acquiring an additional 123 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in shares of RBC Bearings by 51.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,233 shares of the industrial products company’s stock worth $293,000 after acquiring an additional 758 shares during the last quarter. Institutional investors own 97.00% of the company’s stock.
RBC Bearings stock traded down $3.35 during midday trading on Friday, hitting $150.58. The stock had a trading volume of 63,014 shares, compared to its average volume of 105,061. The company has a quick ratio of 1.87, a current ratio of 5.58 and a debt-to-equity ratio of 0.04. The firm has a market cap of $3.74 billion, a P/E ratio of 31.11, a P/E/G ratio of 4.83 and a beta of 1.24. RBC Bearings Incorporated has a 12 month low of $123.50 and a 12 month high of $169.84.
RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings data on Thursday, May 23rd. The industrial products company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.11. The firm had revenue of $182.20 million during the quarter, compared to analyst estimates of $180.76 million. RBC Bearings had a return on equity of 13.01% and a net margin of 14.97%. RBC Bearings’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.08 earnings per share. As a group, equities research analysts anticipate that RBC Bearings Incorporated will post 5.31 earnings per share for the current year.
A number of analysts have recently issued reports on ROLL shares. BidaskClub raised RBC Bearings from a “hold” rating to a “buy” rating in a research report on Monday, June 10th. ValuEngine raised RBC Bearings from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. Zacks Investment Research raised RBC Bearings from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. SunTrust Banks lifted their target price on RBC Bearings to $137.00 and gave the stock a “hold” rating in a research report on Friday, May 24th. Finally, William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $161.33.
In related news, CEO Michael J. Hartnett sold 2,800 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $150.46, for a total value of $421,288.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Patrick S. Bannon sold 1,693 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $147.00, for a total value of $248,871.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,075 shares of company stock valued at $2,445,102. 3.10% of the stock is owned by corporate insiders.
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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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