RBC Bearings Incorporated (ROLL) Holdings Lessened by Teacher Retirement System of Texas
Teacher Retirement System of Texas cut its stake in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 35.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,395 shares of the industrial products company’s stock after selling 2,922 shares during the period. Teacher Retirement System of Texas’ holdings in RBC Bearings were worth $670,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. M&T Bank Corp raised its holdings in RBC Bearings by 3.7% during the fourth quarter. M&T Bank Corp now owns 14,431 shares of the industrial products company’s stock valued at $1,824,000 after acquiring an additional 521 shares during the period. Swiss National Bank raised its holdings in RBC Bearings by 1.4% during the first quarter. Swiss National Bank now owns 42,290 shares of the industrial products company’s stock valued at $5,252,000 after acquiring an additional 600 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in RBC Bearings by 58.7% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,857 shares of the industrial products company’s stock valued at $231,000 after acquiring an additional 687 shares during the period. Global X Management Co. LLC raised its holdings in RBC Bearings by 75.0% during the fourth quarter. Global X Management Co. LLC now owns 1,645 shares of the industrial products company’s stock valued at $208,000 after acquiring an additional 705 shares during the period. Finally, First Republic Investment Management Inc. raised its holdings in RBC Bearings by 11.5% during the fourth quarter. First Republic Investment Management Inc. now owns 6,896 shares of the industrial products company’s stock valued at $872,000 after acquiring an additional 713 shares during the period. Institutional investors own 97.32% of the company’s stock.
Shares of ROLL stock opened at $129.21 on Friday. RBC Bearings Incorporated has a 12-month low of $98.55 and a 12-month high of $139.95. The company has a current ratio of 4.60, a quick ratio of 1.69 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $3.13 billion, a PE ratio of 33.39, a PEG ratio of 4.70 and a beta of 1.30.
RBC Bearings (NASDAQ:ROLL) last issued its earnings results on Wednesday, May 30th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by ($0.05). RBC Bearings had a return on equity of 11.96% and a net margin of 12.91%. The firm had revenue of $179.90 million during the quarter, compared to the consensus estimate of $175.57 million. During the same period last year, the firm posted $0.90 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. analysts predict that RBC Bearings Incorporated will post 4.65 EPS for the current year.
In other RBC Bearings news, CEO Michael J. Hartnett sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $132.02, for a total transaction of $1,056,160.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard R. Crowell sold 2,100 shares of the business’s stock in a transaction that occurred on Monday, June 18th. The stock was sold at an average price of $129.71, for a total value of $272,391.00. The disclosure for this sale can be found here. Insiders have sold 186,882 shares of company stock worth $24,153,962 over the last three months. 3.70% of the stock is currently owned by insiders.
A number of equities research analysts have commented on the company. SunTrust Banks assumed coverage on RBC Bearings in a report on Wednesday. They set a “hold” rating and a $133.00 price target on the stock. BidaskClub raised RBC Bearings from a “sell” rating to a “hold” rating in a report on Saturday, May 26th. Zacks Investment Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 20th. Finally, William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a report on Thursday, May 31st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $139.40.
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