Nisa Investment Advisors LLC continued to hold its stake in RBC Bearings Incorporated (NASDAQ:ROLL) during the second quarter, Holdings Channel reports. The institutional investor owned 5,300 shares of the industrial products company’s stock at the end of the second quarter. Nisa Investment Advisors LLC’s holdings in RBC Bearings were worth $538,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. GW&K Investment Management LLC raised its stake in RBC Bearings by 6.3% in the second quarter. GW&K Investment Management LLC now owns 522,952 shares of the industrial products company’s stock valued at $53,216,000 after buying an additional 31,189 shares in the last quarter. Confluence Investment Management LLC raised its stake in RBC Bearings by 7.0% in the second quarter. Confluence Investment Management LLC now owns 23,196 shares of the industrial products company’s stock valued at $2,360,000 after buying an additional 1,520 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in RBC Bearings by 1,890.8% in the first quarter. Public Employees Retirement System of Ohio now owns 16,265 shares of the industrial products company’s stock valued at $1,579,000 after buying an additional 15,448 shares in the last quarter. Point72 Asset Management L.P. raised its stake in RBC Bearings by 69.2% in the first quarter. Point72 Asset Management L.P. now owns 110,000 shares of the industrial products company’s stock valued at $10,680,000 after buying an additional 45,000 shares in the last quarter. Finally, State Street Corp raised its stake in RBC Bearings by 4.5% in the first quarter. State Street Corp now owns 421,568 shares of the industrial products company’s stock valued at $40,932,000 after buying an additional 17,970 shares in the last quarter.

Shares of RBC Bearings Incorporated (NASDAQ:ROLL) traded down 1.71% during mid-day trading on Thursday, hitting $105.71. 12,221 shares of the stock traded hands. The company’s 50 day moving average is $103.05 and its 200 day moving average is $98.26. RBC Bearings Incorporated has a one year low of $67.99 and a one year high of $111.04. The firm has a market capitalization of $2.51 billion, a P/E ratio of 33.97 and a beta of 1.30.

RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.09. RBC Bearings had a net margin of 11.91% and a return on equity of 11.50%. The business had revenue of $163.90 million for the quarter, compared to the consensus estimate of $160.42 million. During the same period in the prior year, the company posted $0.77 earnings per share. RBC Bearings’s revenue was up 6.0% compared to the same quarter last year. On average, equities analysts expect that RBC Bearings Incorporated will post $3.62 EPS for the current fiscal year.

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Several research firms have issued reports on ROLL. Zacks Investment Research upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $119.00 price target on the stock in a research report on Thursday. BidaskClub lowered shares of RBC Bearings from a “hold” rating to a “sell” rating in a research report on Friday, July 28th.

In related news, insider Michael J. Hartnett sold 13,551 shares of the company’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $105.27, for a total value of $1,426,513.77. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas M. Burigo sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $104.95, for a total transaction of $1,049,500.00. The disclosure for this sale can be found here. Insiders sold 135,425 shares of company stock worth $14,249,574 over the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

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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Institutional Ownership by Quarter for RBC Bearings (NASDAQ:ROLL)

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