RBC Bearings Incorporated (ROLL) Shares Bought by Bank of New York Mellon Corp
Bank of New York Mellon Corp grew its stake in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 4.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 175,797 shares of the industrial products company’s stock after buying an additional 7,484 shares during the period. Bank of New York Mellon Corp’s holdings in RBC Bearings were worth $23,046,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Congress Asset Management Co. MA raised its position in RBC Bearings by 1,622.9% in the fourth quarter. Congress Asset Management Co. MA now owns 577,848 shares of the industrial products company’s stock worth $75,756,000 after purchasing an additional 544,308 shares in the last quarter. Diversified Trust Co acquired a new position in RBC Bearings in the fourth quarter worth about $299,000. Virginia Retirement Systems ET AL raised its position in RBC Bearings by 1.6% in the fourth quarter. Virginia Retirement Systems ET AL now owns 6,500 shares of the industrial products company’s stock worth $852,000 after purchasing an additional 100 shares in the last quarter. MetLife Investment Advisors LLC raised its position in RBC Bearings by 46.6% in the third quarter. MetLife Investment Advisors LLC now owns 15,818 shares of the industrial products company’s stock worth $2,378,000 after purchasing an additional 5,025 shares in the last quarter. Finally, BlackRock Inc. raised its position in RBC Bearings by 1.3% in the third quarter. BlackRock Inc. now owns 2,230,873 shares of the industrial products company’s stock worth $335,434,000 after purchasing an additional 27,831 shares in the last quarter. 99.17% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Daniel A. Bergeron sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $132.42, for a total transaction of $2,648,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas J. Obrien sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $126.19, for a total transaction of $315,475.00. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.
RBC Bearings (NASDAQ:ROLL) last posted its quarterly earnings data on Tuesday, February 5th. The industrial products company reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.01. The company had revenue of $171.45 million during the quarter, compared to analyst estimates of $175.96 million. RBC Bearings had a net margin of 14.34% and a return on equity of 12.77%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $1.05 earnings per share. Equities analysts predict that RBC Bearings Incorporated will post 4.72 earnings per share for the current year.
Several research firms recently issued reports on ROLL. ValuEngine lowered shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Thursday, December 6th. Zacks Investment Research raised shares of RBC Bearings from a “sell” rating to a “hold” rating in a report on Friday, February 1st. BidaskClub lowered shares of RBC Bearings from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of RBC Bearings in a report on Monday, January 14th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. RBC Bearings presently has an average rating of “Hold” and an average price target of $160.00.
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RBC Bearings Profile
RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in North America, Europe, Asia, and Latin America. It operates in four segments: Plain Bearings, Roller Bearings, Ball Bearings, and Engineered Products. The Plain Bearings segment produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings that are primarily used to rectify inevitable misalignments in various mechanical components, such as aircraft controls, helicopter rotors, or in heavy mining and construction equipment.
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