Today, Neuberger Berman Group LLC Boosts Position in RBC Bearings Incorporated (ROLL)

Today, Neuberger Berman Group LLC Boosts Position in RBC Bearings Incorporated (ROLL)
Neuberger Berman Group LLC raised its position in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 9.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,780,572 shares of the company’s stock after buying an additional 146,498 shares during the period. Neuberger Berman Group LLC owned approximately 7.64% of RBC Bearings worth $136,178,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ROLL. BlackRock Inc. increased its position in RBC Bearings by 111.7% in the first quarter. BlackRock Inc. now owns 1,647 shares of the company’s stock worth $121,000 after buying an additional 869 shares during the last quarter. BlackRock Group LTD increased its position in RBC Bearings by 19.1% in the first quarter. BlackRock Group LTD now owns 18,565 shares of the company’s stock worth $1,360,000 after buying an additional 2,982 shares during the last quarter. State Street Corp increased its position in RBC Bearings by 2.9% in the first quarter. State Street Corp now owns 387,345 shares of the company’s stock worth $28,377,000 after buying an additional 10,746 shares during the last quarter. Envestnet Asset Management Inc. increased its position in RBC Bearings by 1.8% in the first quarter. Envestnet Asset Management Inc. now owns 27,490 shares of the company’s stock worth $2,014,000 after buying an additional 497 shares during the last quarter. Finally, GW&K Investment Management LLC increased its position in RBC Bearings by 2.2% in the second quarter. GW&K Investment Management LLC now owns 524,157 shares of the company’s stock worth $38,001,000 after buying an additional 11,278 shares during the last quarter. Institutional investors own 99.72% of the company’s stock.

RBC Bearings Incorporated (NASDAQ:ROLL) traded down 0.29% on Friday, reaching $85.58. 47,013 shares of the company’s stock were exchanged. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 27.97 and a beta of 1.10. RBC Bearings Incorporated has a 52 week low of $54.38 and a 52 week high of $87.82. The stock’s 50 day moving average is $74.93 and its 200 day moving average is $75.23.

RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.01. RBC Bearings had a return on equity of 11.71% and a net margin of 11.75%. The company had revenue of $153.90 million for the quarter, compared to analysts’ expectations of $153.26 million. During the same quarter last year, the business earned $0.76 earnings per share. RBC Bearings’s revenue was up 3.5% on a year-over-year basis. On average, equities analysts anticipate that RBC Bearings Incorporated will post $3.21 earnings per share for the current year.

ROLL has been the topic of a number of research reports. Zacks Investment Research downgraded shares of RBC Bearings from a “hold” rating to a “sell” rating in a research report on Friday, August 26th. Seaport Global Securities downgraded shares of RBC Bearings from an “accumulate” rating to a “neutral” rating and set a $73.00 target price on the stock. in a research report on Friday, October 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. RBC Bearings currently has an average rating of “Hold” and a consensus price target of $75.60.

In related news, General Counsel Thomas J. Williams sold 8,460 shares of the firm’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $71.43, for a total value of $604,297.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael J. Hartnett sold 6,742 shares of the firm’s stock in a transaction on Tuesday, October 11th. The stock was sold at an average price of $76.12, for a total value of $513,201.04. The disclosure for this sale can be found here. 4.40% of the stock is owned by corporate insiders.

RBC Bearings Company Profile

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