Public Employees Retirement System of Ohio Boosts Stake in RBC Bearings Incorporated (NASDAQ:ROLL)

Public Employees Retirement System of Ohio boosted its holdings in RBC Bearings Incorporated (NASDAQ:ROLL) by 23.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,231 shares of the industrial products company’s stock after buying an additional 4,737 shares during the quarter. Public Employees Retirement System of Ohio owned 0.10% of RBC Bearings worth $3,158,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of RBC Bearings by 1.3% during 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 during the last quarter. BlackRock Inc. increased its position in shares of RBC Bearings by 2.8% during 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 during the last quarter. Vanguard Group Inc. increased its position in shares of RBC Bearings by 0.7% during 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 during the last quarter. Wasatch Advisors Inc. increased its position in shares of RBC Bearings by 15.9% during the 3rd quarter. Wasatch Advisors Inc. now owns 995,306 shares of the industrial products company’s stock valued at $124,563,000 after purchasing an additional 136,604 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of RBC Bearings by 2.2% during the 3rd quarter. Wells Fargo & Company MN now owns 629,102 shares of the industrial products company’s stock valued at $78,732,000 after purchasing an additional 13,670 shares during the last quarter. 97.89% of the stock is owned by institutional investors and hedge funds.

RBC Bearings Incorporated (ROLL) opened at $130.70 on Friday. The stock has a market capitalization of $3,145.57, a P/E ratio of 44.31, a P/E/G ratio of 6.09 and a beta of 1.35. 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 52 week low of $87.61 and a 52 week high of $139.95.

RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings data 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 company had revenue of $164.30 million for the quarter, compared to the consensus estimate of $164.56 million. During the same quarter last year, the firm posted $0.78 earnings per share. The company’s revenue was up 6.8% compared to the same quarter last year. research analysts predict that RBC Bearings Incorporated will post 3.63 earnings per share for the current year.

Several equities research analysts have recently commented on ROLL shares. Bank of America upped their price target on shares of RBC Bearings from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Zacks Investment Research upgraded RBC Bearings from a “hold” rating to a “buy” rating and set a $136.00 price objective for the company in a research note on Tuesday, September 26th. Drexel Hamilton initiated coverage on RBC Bearings in a research note on Thursday, December 21st. They set a “buy” rating and a $140.00 price objective for the company. BidaskClub downgraded RBC Bearings from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 6th. Finally, ValuEngine downgraded RBC Bearings from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $140.75.

In other RBC Bearings news, insider Michael J. Hartnett sold 1,687 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $128.28, for a total value of $216,408.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Hartnett sold 500 shares of the company’s stock in a transaction that occurred on Saturday, December 29th. The stock was sold at an average price of $128.00, for a total value of $64,000.00. The disclosure for this sale can be found here. Insiders sold a total of 37,487 shares of company stock valued at $4,632,657 over the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

WARNING: “Public Employees Retirement System of Ohio Boosts Stake in RBC Bearings Incorporated (NASDAQ:ROLL)” was originally posted by The Lincolnian Online and is the property of of The Lincolnian Online. If you are reading this piece of content on another website, it was illegally copied and republished in violation of United States and international trademark & copyright law. The original version of this piece of content can be read at https://www.thelincolnianonline.com/2018/01/14/public-employees-retirement-system-of-ohio-has-3-16-million-position-in-rbc-bearings-incorporated-roll-updated-updated.html.

RBC Bearings Company 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.

Institutional Ownership by Quarter for RBC Bearings (NASDAQ:ROLL)

Receive News & Ratings for RBC Bearings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RBC Bearings and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply