Cramer Rosenthal Mcglynn LLC grew its position in RBC Bearings Incorporated (NASDAQ:ROLL) by 1.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 110,845 shares of the industrial products company’s stock after purchasing an additional 1,555 shares during the period. Cramer Rosenthal Mcglynn LLC owned about 0.46% of RBC Bearings worth $13,872,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of RBC Bearings by 1.3% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,287,621 shares of the industrial products company’s stock valued at $286,296,000 after purchasing an additional 29,134 shares in the last quarter. BlackRock Inc. boosted its stake in shares of RBC Bearings by 2.8% in the 2nd quarter. BlackRock Inc. now owns 1,844,217 shares of the industrial products company’s stock valued at $187,666,000 after purchasing an additional 49,694 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of RBC Bearings by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,817,613 shares of the industrial products company’s stock valued at $184,960,000 after purchasing an additional 12,863 shares in the last quarter. Wasatch Advisors Inc. raised its holdings in shares of RBC Bearings by 15.9% in the third quarter. Wasatch Advisors Inc. now owns 995,306 shares of the industrial products company’s stock valued at $124,563,000 after buying an additional 136,604 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of RBC Bearings by 2.2% in the third quarter. Wells Fargo & Company MN now owns 629,102 shares of the industrial products company’s stock valued at $78,732,000 after buying an additional 13,670 shares during the last quarter. Institutional investors own 99.52% of the company’s stock.
A number of research firms recently issued reports on ROLL. ValuEngine cut RBC Bearings from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research cut RBC Bearings from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. BidaskClub cut RBC Bearings from a “strong-buy” rating to a “buy” rating in a report on Wednesday. CL King began coverage on RBC Bearings in a report on Wednesday, November 29th. They issued a “buy” rating and a $142.00 price target for the company. Finally, Bank of America lifted their price target on RBC Bearings from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $139.33.
In other RBC Bearings news, insider Michael J. Hartnett sold 6,300 shares of the business’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $128.68, for a total transaction of $810,684.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas C. Crainer sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $120.76, for a total value of $1,811,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 31,300 shares of company stock valued at $3,837,484 over the last three months. Company insiders own 3.70% of the company’s stock.
RBC Bearings Incorporated (NASDAQ ROLL) opened at $127.60 on Thursday. The company has a quick ratio of 1.64, a current ratio of 4.68 and a debt-to-equity ratio of 0.26. RBC Bearings Incorporated has a twelve month low of $83.80 and a twelve month high of $139.95. The stock has a market capitalization of $3,179.03, a PE ratio of 38.91, a P/E/G ratio of 6.15 and a beta of 1.34.
RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings results on Friday, November 3rd. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.02). RBC Bearings had a net margin of 11.18% and a return on equity of 11.10%. The business had revenue of $164.30 million during the quarter, compared to the consensus estimate of $164.56 million. During the same period in the prior year, the firm earned $0.78 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. research analysts predict that RBC Bearings Incorporated will post 3.63 EPS for the current fiscal year.
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About RBC Bearings
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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