RBC Bearings Incorporated (NASDAQ:ROLL) Experiences Lighter than Average Trading Volume
Resource from: First News 24 Likes:257
Oct 13,2017
RBC Bearings Incorporated shares had a trading volume of 259 on Thursday. Shares saw a steep decrease in trading volume of 99.70% under the normal average daily volume.
Traders are feeling more bullish on RBC Bearings Incorporated of late if you take into consideration the decrease in short interest. The firm experienced a fall in short interest of -9.59% as of the latest report on September 15, 2017. Short shares decreased 54,203 over that period. Days to cover decreased -2.0 to 7.0 and the percentage of shorted shares was 0.02% on September 15.
Here are a few substantial investment firms who have updated their positions. Neuberger Berman Group LLC downsized its ownership by selling 80,361 shares a decrease of 3.9% from 03/31/2017 to 06/30/2017. Neuberger Berman Group LLC claims 1,957,535 shares worth $199,199,000. The total value of its holdings increased 0.7%. As of the end of the quarter Ubs Group Ag had bought 1,641 shares growing its position 266.0%. The value of the company’s investment in RBC Bearings Incorporated went from $60,000 to $230,000 a change of $170,000 since the last quarter.
Point72 Asset Management, L.p. trimmed its stake by shedding 60,178 shares a decrease of 54.7% as of 06/30/2017. Point72 Asset Management, L.p. currently owns 49,822 shares with a value of $5,070,000. The value of the position overall is down by 52.5%. As of quarter end Perkins Investment Management, LLC had acquired a total of 4,154 shares growing its stake by 2.4%. The value in dollars increased from $16,183,000 to $17,333,000 a change of 7.1% quarter over quarter.
The company is trading unchanged by % percent from yesterday’s close. It is currently trading at $126.02 barely above the 50 day moving average which is $117.03 and which is significantly higher than the 200 day moving average of $105.21. The 50 day moving average was up $8.99 whereas the 200 day moving average was up $20.81 or +19.79%.
The company currently has a P/E ratio of 40.49 and the market cap is 3.00B. As of the latest earnings report the EPS was $3.11 and is estimated to be $3.66 for the current year with 23,805,000 shares currently outstanding. Analysts expect next quarter’s EPS will be $0.86 with next year’s EPS anticipated to be $4.12.
RBC Bearings Incorporated, launched on March 23, 1992, 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. While the Company manufactures products in all major categories, the Company focuses primarily on highly technical or regulated bearing products and engineered products for specialized markets. The Company has over 40 facilities of which over 30 are manufacturing facilities in approximately five countries. The Company classifies its customers into two categories: industrial and aerospace. The Company manufactures bearings and engineered products for a range of diversified industrial markets, including construction and mining, oil and natural resource extraction, heavy truck, marine, rail and train, packaging, semiconductor machinery and the general industrial markets. The Company supplies bearings and engineered products for use in commercial, private and military aircraft and aircraft engines, guided weaponry, and vision and optical systems.
(First News 24)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
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