Maren Capital LLC Has $201.93 Million Position in RBC Bearings Incorporated $RBC

Maren Capital LLC grew its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 450,314 shares of the industrial products company’s stock after purchasing an additional 6,373 shares during the quarter. RBC Bearings comprises approximately 10.9% of Maren Capital LLC’s investment portfolio, making the stock its 2nd largest position. Maren Capital LLC owned approximately 1.42% of RBC Bearings worth $201,934,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RBC. Advisors Asset Management Inc. bought a new position in RBC Bearings during the 1st quarter worth approximately $26,000. SBI Securities Co. Ltd. raised its holdings in RBC Bearings by 106.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 33 shares during the last quarter. Larson Financial Group LLC raised its holdings in RBC Bearings by 148.5% during the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 49 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in RBC Bearings during the 4th quarter worth approximately $35,000. Finally, EverSource Wealth Advisors LLC raised its holdings in RBC Bearings by 123.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 53 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RBC shares. KeyCorp raised their price target on shares of RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Morgan Stanley raised their price objective on shares of RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Wall Street Zen raised shares of RBC Bearings from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Truist Financial reaffirmed a “buy” rating and set a $615.00 price objective (up from $599.00) on shares of RBC Bearings in a research report on Tuesday, May 19th. Finally, Zacks Research downgraded shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, RBC Bearings presently has a consensus rating of “Moderate Buy” and a consensus price target of $584.00.

RBC Bearings Stock Performance

Shares of RBC stock opened at $603.22 on Monday. The company has a market cap of $19.09 billion, a price-to-earnings ratio of 66.36, a price-to-earnings-growth ratio of 3.49 and a beta of 1.42. RBC Bearings Incorporated has a 52 week low of $363.05 and a 52 week high of $632.00. The company has a quick ratio of 0.78, a current ratio of 2.18 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average of $586.12 and a 200-day moving average of $534.33.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings results on Friday, May 15th. The industrial products company reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.31. The business had revenue of $518.00 million during the quarter, compared to the consensus estimate of $505.90 million. RBC Bearings had a net margin of 15.37% and a return on equity of 11.35%. RBC Bearings’s revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.83 EPS. On average, equities analysts forecast that RBC Bearings Incorporated will post 13.58 earnings per share for the current year.

Insider Buying and Selling

In other RBC Bearings news, Director Edward Stewart sold 600 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $592.83, for a total transaction of $355,698.00. Following the completion of the sale, the director owned 21,337 shares in the company, valued at approximately $12,649,213.71. The trade was a 2.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.90% of the company’s stock.

RBC Bearings Company Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.