Teacher Retirement System of Texas Acquires Shares of 2,006 RBC Bearings Incorporated (ROLL)
Teacher Retirement System of Texas acquired a new position in RBC Bearings Incorporated (NASDAQ:ROLL) during the third quarter, according to its most recent filing with the SEC. The firm acquired 2,006 shares of the industrial products company’s stock, valued at approximately $251,000.
Other hedge funds have also modified their holdings of the company. Strs Ohio grew its position in shares of RBC Bearings by 71.4% in the 2nd quarter. Strs Ohio now owns 1,200 shares of the industrial products company’s stock worth $122,000 after buying an additional 500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of RBC Bearings by 106.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,237 shares of the industrial products company’s stock worth $126,000 after buying an additional 637 shares during the last quarter. Parametrica Management Ltd bought a new stake in shares of RBC Bearings in the 3rd quarter worth approximately $238,000. Victory Capital Management Inc. grew its position in shares of RBC Bearings by 17.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,024 shares of the industrial products company’s stock worth $206,000 after buying an additional 302 shares during the last quarter. Finally, Fortaleza Asset Management Inc. bought a new stake in shares of RBC Bearings in the 3rd quarter worth approximately $262,000. Hedge funds and other institutional investors own 98.54% of the company’s stock.
ROLL has been the subject of a number of research analyst reports. Zacks Investment Research cut RBC Bearings from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. BidaskClub cut RBC Bearings from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Bank of America Corporation raised their target price on RBC Bearings from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th.
RBC Bearings Incorporated (NASDAQ ROLL) opened at $126.25 on Friday. The company has a market capitalization of $3,081.32, a P/E ratio of 37.71, a PEG ratio of 5.96 and a beta of 1.34. The company has a debt-to-equity ratio of 0.26, a current ratio of 4.68 and a quick ratio of 1.64. RBC Bearings Incorporated has a one year low of $82.83 and a one year high of $135.54.
RBC Bearings (NASDAQ:ROLL) last released its earnings results on Friday, November 3rd. The industrial products company reported $0.83 EPS for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.02). The firm had revenue of $164.30 million during the quarter, compared to analysts’ expectations of $164.56 million. RBC Bearings had a net margin of 11.18% and a return on equity of 11.10%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.78 EPS. analysts expect that RBC Bearings Incorporated will post 3.63 earnings per share for the current year.
In other news, VP Richard J. Edwards sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $121.54, for a total value of $1,215,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas C. Crainer sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $120.76, for a total value of $1,811,400.00. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.
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RBC Bearings Company Profile
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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