Victory Capital Management Inc. boosted its stake in RBC Bearings Inc. (NASDAQ:ROLL) by 77.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,448 shares of the company’s stock after buying an additional 631 shares during the period. Victory Capital Management Inc.’s holdings in RBC Bearings were worth $105,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Commerce Bank increased its stake in RBC Bearings by 0.7% in the second quarter. Commerce Bank now owns 5,445 shares of the company’s stock valued at $395,000 after buying an additional 40 shares in the last quarter. Wesbanco Bank Inc. bought a new stake in RBC Bearings during the second quarter valued at $206,000. UBS Asset Management Americas Inc. increased its stake in RBC Bearings by 17.8% in the second quarter. UBS Asset Management Americas Inc. now owns 12,485 shares of the company’s stock valued at $905,000 after buying an additional 1,890 shares in the last quarter. Nationwide Fund Advisors increased its stake in RBC Bearings by 0.6% in the second quarter. Nationwide Fund Advisors now owns 118,996 shares of the company’s stock valued at $8,627,000 after buying an additional 713 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in RBC Bearings by 7.4% in the second quarter. JPMorgan Chase & Co. now owns 882,792 shares of the company’s stock valued at $64,003,000 after buying an additional 60,810 shares in the last quarter. Hedge funds and other institutional investors own 99.73% of the company’s stock.
RBC Bearings Inc. (NASDAQ:ROLL) traded down 2.05% during mid-day trading on Friday, hitting $76.26. 99,462 shares of the stock traded hands. RBC Bearings Inc. has a 12-month low of $54.38 and a 12-month high of $87.82. The company has a 50 day moving average of $76.98 and a 200-day moving average of $74.86. The stock has a market cap of $1.78 billion, a PE ratio of 26.21 and a beta of 1.19.
RBC Bearings (NASDAQ:ROLL) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.77 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by $0.01. RBC Bearings had a net margin of 11.24% and a return on equity of 12.05%. The business earned $154.58 million during the quarter, compared to analysts’ expectations of $152.83 million. During the same period in the previous year, the business posted $0.78 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts forecast that RBC Bearings Inc. will post $3.34 earnings per share for the current year.
Separately, Zacks Investment Research raised shares of RBC Bearings from a “sell” rating to a “hold” rating in a research report on Wednesday, September 21st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. RBC Bearings presently has an average rating of “Hold” and a consensus price target of $74.80.
About RBC Bearings
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.
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