Townsquare Capital LLC reduced its position in RBC Bearings Incorporated (NASDAQ:ROLL) by 8.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,200 shares of the industrial products company’s stock after selling 581 shares during the quarter. Townsquare Capital LLC’s holdings in RBC Bearings were worth $1,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Invesco Ltd. boosted its position in shares of RBC Bearings by 3,153.1% during the second quarter. Invesco Ltd. now owns 458,423 shares of the industrial products company’s stock worth $76,470,000 after acquiring an additional 444,331 shares during the last quarter. Wasatch Advisors Inc. boosted its position in shares of RBC Bearings by 11.7% during the second quarter. Wasatch Advisors Inc. now owns 1,630,566 shares of the industrial products company’s stock worth $271,995,000 after acquiring an additional 170,692 shares during the last quarter. Conestoga Capital Advisors LLC bought a new position in shares of RBC Bearings during the second quarter worth $28,061,000. TimesSquare Capital Management LLC boosted its position in shares of RBC Bearings by 91.1% during the first quarter. TimesSquare Capital Management LLC now owns 271,524 shares of the industrial products company’s stock worth $34,530,000 after acquiring an additional 129,420 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of RBC Bearings by 66.4% during the first quarter. Clearbridge Investments LLC now owns 196,398 shares of the industrial products company’s stock worth $24,976,000 after acquiring an additional 78,378 shares during the last quarter. Institutional investors and hedge funds own 98.53% of the company’s stock.
ROLL has been the subject of a number of research reports. BidaskClub lowered shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. ValuEngine upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. RBC Bearings currently has an average rating of “Hold” and an average target price of $161.33.
RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.04. The company had revenue of $182.69 million for the quarter, compared to the consensus estimate of $183.13 million. RBC Bearings had a net margin of 15.26% and a return on equity of 12.82%. RBC Bearings’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.15 earnings per share. As a group, sell-side analysts forecast that RBC Bearings Incorporated will post 5.28 earnings per share for the current year.
In related news, Director Alan B. Levine sold 1,250 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $163.00, for a total transaction of $203,750.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas J. Obrien sold 6,500 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $158.02, for a total transaction of $1,027,130.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,581 shares of company stock worth $15,214,694. 3.50% of the stock is owned by insiders.
About RBC Bearings
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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