GW&K Investment Management LLC grew its position in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 13.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 627,106 shares of the industrial products company’s stock after purchasing an additional 75,362 shares during the quarter. RBC Bearings makes up about 1.5% of GW&K Investment Management LLC’s holdings, making the stock its largest position. GW&K Investment Management LLC owned 2.52% of RBC Bearings worth $104,044,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Kavar Capital Partners LLC purchased a new position in shares of RBC Bearings during the second quarter worth about $32,000. Quest Capital Management Inc. ADV purchased a new stake in RBC Bearings in the 3rd quarter valued at approximately $52,000. Squar Milner Financial Services LLC boosted its holdings in RBC Bearings by 529.6% in the 3rd quarter. Squar Milner Financial Services LLC now owns 447 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 376 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its holdings in RBC Bearings by 9.1% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 914 shares of the industrial products company’s stock valued at $152,000 after purchasing an additional 76 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in RBC Bearings by 27.0% in the 2nd quarter. Parallel Advisors LLC now owns 1,204 shares of the industrial products company’s stock valued at $201,000 after purchasing an additional 256 shares in the last quarter. 99.23% of the stock is currently owned by institutional investors.
A number of equities research analysts have weighed in on the company. ValuEngine raised RBC Bearings from a “hold” rating to a “buy” rating in a report on Monday, November 4th. BidaskClub lowered RBC Bearings from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $161.33.
In other news, Director Steven H. Kaplan sold 200 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $163.88, for a total transaction of $32,776.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard J. Edwards sold 16,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $158.08, for a total transaction of $2,529,280.00. The disclosure for this sale can be found here. Insiders have sold a total of 87,056 shares of company stock valued at $13,833,677 over the last ninety days. 3.50% of the stock is owned by insiders.
Shares of ROLL stock traded down $0.13 during midday trading on Friday, reaching $167.31. 55,900 shares of the company traded hands, compared to its average volume of 102,855. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.14 and a quick ratio of 1.72. The firm has a market cap of $4.09 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 5.31 and a beta of 1.19. The firm’s 50 day simple moving average is $161.81 and its two-hundred day simple moving average is $155.80. RBC Bearings Incorporated has a 1-year low of $123.50 and a 1-year high of $171.54.
RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings data on Friday, November 1st. The industrial products company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. The company had revenue of $181.91 million during the quarter, compared to the consensus estimate of $180.93 million. RBC Bearings had a net margin of 15.23% and a return on equity of 12.61%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $1.22 EPS. As a group, research analysts anticipate that RBC Bearings Incorporated will post 5.24 earnings per share for the current fiscal year.
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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