Snyder Capital Management L P cut its holdings in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 10.6% in the 4th quarter, Holdings Channel reports. The firm owned 589,010 shares of the industrial products company’s stock after selling 70,066 shares during the period. RBC Bearings makes up approximately 3.7% of Snyder Capital Management L P’s portfolio, making the stock its 7th largest holding. Snyder Capital Management L P’s holdings in RBC Bearings were worth $74,451,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in RBC Bearings during the third quarter valued at approximately $189,000. Global X Management Co. LLC lifted its stake 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 purchasing an additional 705 shares during the last quarter. Comerica Bank acquired a new stake in RBC Bearings during the third quarter valued at approximately $230,000. Strs Ohio lifted its stake in RBC Bearings by 58.3% during the third quarter. Strs Ohio now owns 1,900 shares of the industrial products company’s stock valued at $237,000 after purchasing an additional 700 shares during the last quarter. Finally, Parametrica Management Ltd acquired a new stake in RBC Bearings during the third quarter valued at approximately $238,000. 98.00% of the stock is owned by institutional investors and hedge funds.
In other RBC Bearings news, insider Michael J. Hartnett sold 6,300 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $128.68, for a total value of $810,684.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan B. Levine sold 4,900 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $115.70, for a total transaction of $566,930.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,387 shares of company stock valued at $4,653,387. 3.70% of the stock is owned by insiders.
RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.19. The business had revenue of $166.86 million during the quarter, compared to the consensus estimate of $163.46 million. RBC Bearings had a net margin of 12.52% and a return on equity of 11.79%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 EPS. sell-side analysts predict that RBC Bearings Incorporated will post 3.91 EPS for the current year.
Several research firms recently commented on ROLL. BidaskClub lowered shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Drexel Hamilton initiated coverage on shares of RBC Bearings in a research note on Thursday, December 21st. They set a “buy” rating and a $140.00 target price for the company. Zacks Investment Research upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $141.00 price target for the company in a research report on Monday, January 8th. ValuEngine downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Bank of America upped their price target on shares of RBC Bearings from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. RBC Bearings presently has a consensus rating of “Buy” and an average price target of $141.00.
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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