Port Capital LLC increased its holdings in RBC Bearings Incorporated (NASDAQ:ROLL) by 8.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,914 shares of the industrial products company’s stock after buying an additional 10,955 shares during the period. RBC Bearings comprises about 2.3% of Port Capital LLC’s holdings, making the stock its 9th largest position. Port Capital LLC owned about 0.56% of RBC Bearings worth $17,636,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in ROLL. Whittier Trust Co. of Nevada Inc. lifted its holdings in RBC Bearings by 58.7% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,857 shares of the industrial products company’s stock valued at $231,000 after purchasing an additional 687 shares in the last quarter. Guggenheim Capital LLC purchased a new position in RBC Bearings in the 4th quarter valued at about $276,000. Xact Kapitalforvaltning AB purchased a new position in RBC Bearings in the 4th quarter valued at about $312,000. Gotham Asset Management LLC purchased a new position in RBC Bearings in the 4th quarter valued at about $374,000. Finally, SG Americas Securities LLC lifted its holdings in RBC Bearings by 48.2% in the 1st quarter. SG Americas Securities LLC now owns 3,510 shares of the industrial products company’s stock valued at $436,000 after purchasing an additional 1,142 shares in the last quarter. Institutional investors and hedge funds own 97.33% of the company’s stock.
ROLL has been the topic of a number of recent research reports. BidaskClub upgraded shares of RBC Bearings from a “sell” rating to a “hold” rating in a report on Wednesday, March 14th. Zacks Investment Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 20th. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research note on Thursday, May 31st. Finally, SunTrust Banks initiated coverage on shares of RBC Bearings in a research note on Wednesday, June 20th. They set a “hold” rating and a $133.00 price objective for the company. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. RBC Bearings presently has a consensus rating of “Buy” and a consensus price target of $139.40.
ROLL traded down $1.62 on Wednesday, reaching $132.03. 41,800 shares of the company’s stock were exchanged, compared to its average volume of 83,146. The company has a market cap of $3.29 billion, a PE ratio of 34.09, a price-to-earnings-growth ratio of 4.95 and a beta of 1.34. RBC Bearings Incorporated has a twelve month low of $101.08 and a twelve month high of $139.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.69 and a current ratio of 4.60.
RBC Bearings (NASDAQ:ROLL) last posted its earnings results on Wednesday, May 30th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.13 by ($0.05). The business had revenue of $179.90 million for the quarter, compared to analyst estimates of $175.57 million. RBC Bearings had a return on equity of 11.96% and a net margin of 12.91%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the company posted $0.90 EPS. sell-side analysts predict that RBC Bearings Incorporated will post 4.65 earnings per share for the current year.
In other RBC Bearings news, insider Michael J. Hartnett sold 105,202 shares of the stock in a transaction that occurred on Tuesday, June 5th. The shares were sold at an average price of $128.34, for a total value of $13,501,624.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard R. Crowell sold 2,100 shares of the stock in a transaction that occurred on Monday, June 18th. The shares were sold at an average price of $129.71, for a total transaction of $272,391.00. The disclosure for this sale can be found here. Insiders sold 228,736 shares of company stock valued at $29,640,452 in the last ninety days. 3.70% of the stock is owned by corporate insiders.
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 misalignments in various mechanical components, such as aircraft controls, helicopter rotors, or in heavy mining and construction equipment.
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