BlackRock Advisors LLC decreased its stake in shares of RBC Bearings Inc. (NASDAQ:ROLL) by 29.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,254 shares of the company’s stock after selling 28,686 shares during the period. BlackRock Advisors LLC owned approximately 0.30% of RBC Bearings worth $5,021,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of ROLL. Aperio Group LLC bought a new stake in RBC Bearings during the first quarter valued at approximately $262,000. Teachers Advisors Inc. increased its stake in RBC Bearings by 5.1% in the first quarter. Teachers Advisors Inc. now owns 43,138 shares of the company’s stock valued at $3,160,000 after buying an additional 2,090 shares in the last quarter. BlackRock Inc. increased its stake in RBC Bearings by 111.7% in the first quarter. BlackRock Inc. now owns 1,647 shares of the company’s stock valued at $121,000 after buying an additional 869 shares in the last quarter. BlackRock Group LTD increased its stake in RBC Bearings by 19.1% in the first quarter. BlackRock Group LTD now owns 18,565 shares of the company’s stock valued at $1,360,000 after buying an additional 2,982 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in RBC Bearings by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 576,801 shares of the company’s stock valued at $42,256,000 after buying an additional 4,816 shares in the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.
RBC Bearings Inc. (NASDAQ:ROLL) opened at 70.48 on Tuesday. RBC Bearings Inc. has a 52 week low of $54.38 and a 52 week high of $87.82. The stock has a market capitalization of $1.64 billion, a P/E ratio of 24.22 and a beta of 1.19. The stock’s 50 day moving average price is $76.11 and its 200-day moving average price is $74.89.
RBC Bearings (NASDAQ:ROLL) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.77 EPS for the quarter, missing the Zacks’ consensus estimate of $0.78 by $0.01. The firm earned $154.58 million during the quarter, compared to analyst estimates of $152.83 million. RBC Bearings had a return on equity of 12.05% and a net margin of 11.24%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $0.78 earnings per share. Equities research analysts expect that RBC Bearings Inc. will post $3.34 earnings per share for the current year.
Several analysts have commented on ROLL shares. Zacks Investment Research downgraded RBC Bearings from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th. Seaport Global Securities downgraded RBC Bearings from an “accumulate” rating to a “neutral” rating and set a $73.00 target price for the company. in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. RBC Bearings currently has a consensus rating of “Hold” and an average target price of $75.60.
In related news, insider Michael J. Hartnett sold 6,742 shares of RBC Bearings stock in a transaction dated Tuesday, October 11th. The stock was sold at an average price of $76.12, for a total value of $513,201.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is owned by corporate insiders.
RBC Bearings Company Profile
RBC Bearings Incorporated 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.