RBC Bearings Incorporated (ROLL) Position Lifted by Bbva Compass Bancshares Inc.
Bbva Compass Bancshares Inc. increased its holdings in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 5.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,540 shares of the industrial products company’s stock after acquiring an additional 730 shares during the period. Bbva Compass Bancshares Inc. owned approximately 0.06% of RBC Bearings worth $1,820,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in ROLL. Teachers Advisors LLC grew its holdings in RBC Bearings by 2.0% during the first quarter. Teachers Advisors LLC now owns 44,429 shares of the industrial products company’s stock worth $4,314,000 after acquiring an additional 877 shares during the period. Vanguard Group Inc. grew its holdings in RBC Bearings by 5.7% in the first quarter. Vanguard Group Inc. now owns 1,804,750 shares of the industrial products company’s stock valued at $175,223,000 after purchasing an additional 96,915 shares during the last quarter. Geode Capital Management LLC grew its holdings in RBC Bearings by 7.2% in the first quarter. Geode Capital Management LLC now owns 194,578 shares of the industrial products company’s stock valued at $18,891,000 after purchasing an additional 13,131 shares during the last quarter. BlackRock Inc. grew its holdings in RBC Bearings by 90,578.3% in the first quarter. BlackRock Inc. now owns 1,794,523 shares of the industrial products company’s stock valued at $174,231,000 after purchasing an additional 1,792,544 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in RBC Bearings by 6.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 122,207 shares of the industrial products company’s stock valued at $11,866,000 after purchasing an additional 7,412 shares during the last quarter. 99.94% of the stock is currently owned by hedge funds and other institutional investors.
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RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings results on Friday, November 3rd. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.02). The firm had revenue of $164.30 million for the quarter, compared to analyst estimates of $164.56 million. RBC Bearings had a net margin of 11.91% and a return on equity of 11.25%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 earnings per share.
Several analysts have weighed in on the company. Zacks Investment Research lowered RBC Bearings from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. BidaskClub raised RBC Bearings from a “sell” rating to a “hold” rating in a report on Saturday, August 19th.
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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