RBC Bearings Incorporated (ROLL) Shares Bought by BNP Paribas Arbitrage SA
Other hedge funds have also added to or reduced their stakes in the company. Congress Asset Management Co. MA lifted its position in 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 valued at $75,756,000 after acquiring an additional 544,308 shares during the period. Diversified Trust Co purchased a new position in RBC Bearings during the 4th quarter valued at about $299,000. Virginia Retirement Systems ET AL lifted its position in RBC Bearings by 1.6% during the 4th quarter. Virginia Retirement Systems ET AL now owns 6,500 shares of the industrial products company’s stock valued at $852,000 after acquiring an additional 100 shares during the period. Hsbc Holdings PLC lifted its position in RBC Bearings by 4.7% during the 4th quarter. Hsbc Holdings PLC now owns 4,960 shares of the industrial products company’s stock valued at $651,000 after acquiring an additional 221 shares during the period. Finally, MML Investors Services LLC purchased a new position in RBC Bearings in the fourth quarter worth about $345,000. 97.00% of the stock is currently owned by institutional investors.
Several brokerages have issued reports on ROLL. SunTrust Banks lifted their target price on shares of RBC Bearings to $137.00 and gave the stock a “hold” rating in a report on Friday, May 24th. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a report on Friday, May 24th. BidaskClub raised shares of RBC Bearings from a “sell” rating to a “hold” rating in a report on Friday, May 10th. ValuEngine raised shares of RBC Bearings from a “hold” rating to a “buy” rating in a report on Monday, April 29th. Finally, Zacks Investment Research raised shares of RBC Bearings from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $161.33.
NASDAQ ROLL traded up $4.83 during trading hours on Tuesday, hitting $148.75. 112,067 shares of the company’s stock traded hands, compared to its average volume of 112,171. The company has a current ratio of 5.58, a quick ratio of 1.87 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 4.56 and a beta of 1.23. RBC Bearings Incorporated has a 52 week low of $123.50 and a 52 week high of $169.84.
RBC Bearings (NASDAQ:ROLL) last announced its earnings results on Thursday, May 23rd. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.11. The company had revenue of $182.20 million during the quarter, compared to analyst estimates of $180.76 million. RBC Bearings had a net margin of 14.97% and a return on equity of 13.01%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.08 earnings per share. Sell-side analysts predict that RBC Bearings Incorporated will post 5.31 EPS for the current year.
In other news, Director Amir Faghri sold 2,500 shares of the business’s stock in a transaction on Friday, March 29th. The shares were sold at an average price of $127.35, for a total value of $318,375.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.10% of the company’s stock.
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.
BNP Paribas Arbitrage SA lifted its holdings in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 695.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,607 shares of the industrial products company’s stock after purchasing an additional 4,902 shares during the period. BNP Paribas Arbitrage SA’s holdings in RBC Bearings were worth $713,000 as of its most recent filing with the SEC.
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