Wasatch Advisors Inc. raised its position in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,459,874 shares of the industrial products company’s stock after purchasing an additional 21,791 shares during the quarter. RBC Bearings comprises 2.0% of Wasatch Advisors Inc.’s portfolio, making the stock its 8th largest holding. Wasatch Advisors Inc. owned about 0.06% of RBC Bearings worth $185,652,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. boosted its stake in RBC Bearings by 2.7% during the 4th quarter. BlackRock Inc. now owns 2,290,937 shares of the industrial products company’s stock valued at $300,340,000 after purchasing an additional 60,064 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of RBC Bearings by 1.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,162,644 shares of the industrial products company’s stock worth $174,816,000 after acquiring an additional 21,363 shares in the last quarter. Congress Asset Management Co. MA boosted its stake in shares of RBC Bearings by 1,622.9% during the 4th quarter. Congress Asset Management Co. MA now owns 577,848 shares of the industrial products company’s stock worth $75,756,000 after acquiring an additional 544,308 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of RBC Bearings by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 570,808 shares of the industrial products company’s stock worth $74,833,000 after acquiring an additional 11,258 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of RBC Bearings by 1.0% during the 1st quarter. Janus Henderson Group PLC now owns 373,958 shares of the industrial products company’s stock worth $47,556,000 after acquiring an additional 3,723 shares in the last quarter. 99.70% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on ROLL. BidaskClub raised RBC Bearings from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. ValuEngine lowered RBC Bearings from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Finally, Zacks Investment Research raised RBC Bearings from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $160.00.
In other news, Director Amir Faghri sold 2,500 shares of the stock in a transaction on Friday, March 29th. The stock was sold at an average price of $127.35, for a total value of $318,375.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is owned by corporate insiders.
Shares of ROLL traded down $0.97 during mid-day trading on Wednesday, reaching $137.61. The company’s stock had a trading volume of 6,712 shares, compared to its average volume of 110,544. The firm has a market capitalization of $3.37 billion, a P/E ratio of 35.79, a PEG ratio of 4.45 and a beta of 1.35. RBC Bearings Incorporated has a 1 year low of $114.03 and a 1 year high of $169.84. The company has a quick ratio of 2.50, a current ratio of 6.44 and a debt-to-equity ratio of 0.12.
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RBC Bearings Company 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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