Ladenburg Thalmann Financial Services Inc. decreased its holdings in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 10.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 900 shares of the industrial products company’s stock after selling 110 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in RBC Bearings were worth $150,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the business. BlackRock Inc. raised its position in shares of RBC Bearings by 1.9% during the 2nd quarter. BlackRock Inc. now owns 2,060,806 shares of the industrial products company’s stock valued at $343,763,000 after acquiring an additional 37,704 shares during the last quarter. Wasatch Advisors Inc. raised its position in shares of RBC Bearings by 11.7% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,630,566 shares of the industrial products company’s stock valued at $271,995,000 after acquiring an additional 170,692 shares during the last quarter. GW&K Investment Management LLC raised its position in shares of RBC Bearings by 15.3% during the 2nd quarter. GW&K Investment Management LLC now owns 551,744 shares of the industrial products company’s stock valued at $92,036,000 after acquiring an additional 73,098 shares during the last quarter. Invesco Ltd. raised its position in shares of RBC Bearings by 3,153.1% during the 2nd quarter. Invesco Ltd. now owns 458,423 shares of the industrial products company’s stock valued at $76,470,000 after acquiring an additional 444,331 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of RBC Bearings by 0.6% during the 2nd quarter. Northern Trust Corp now owns 321,501 shares of the industrial products company’s stock valued at $53,630,000 after acquiring an additional 1,794 shares during the last quarter. Institutional investors own 98.51% of the company’s stock.
Shares of RBC Bearings stock opened at $160.80 on Wednesday. The firm has a fifty day moving average of $161.57 and a two-hundred day moving average of $153.07. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 33.22, a PEG ratio of 5.25 and a beta of 1.21. RBC Bearings Incorporated has a 52 week low of $123.50 and a 52 week high of $171.54. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.72 and a current ratio of 5.15.
RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.04. RBC Bearings had a net margin of 15.26% and a return on equity of 12.82%. The business had revenue of $182.69 million during the quarter, compared to analysts’ expectations of $183.13 million. During the same quarter in the prior year, the company earned $1.15 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, research analysts forecast that RBC Bearings Incorporated will post 5.28 EPS for the current fiscal year.
In related news, CFO Daniel A. Bergeron sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $157.74, for a total value of $3,154,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alan B. Levine sold 1,250 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $163.00, for a total transaction of $203,750.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,856 shares of company stock valued at $13,800,901. 3.50% of the stock is owned by corporate insiders.
Several analysts have commented on ROLL shares. BidaskClub cut shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. ValuEngine cut shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $161.33.
RBC Bearings Profile
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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