Bridge City Capital LLC Raises Stake in RBC Bearings Incorporated (NASDAQ:ROLL)

Bridge City Capital LLC grew its stake in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 27.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,417 shares of the industrial products company’s stock after purchasing an additional 5,285 shares during the quarter. RBC Bearings makes up approximately 1.7% of Bridge City Capital LLC’s investment portfolio, making the stock its 13th largest position. Bridge City Capital LLC owned approximately 0.10% of RBC Bearings worth $4,051,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kavar Capital Partners LLC purchased a new stake in shares of RBC Bearings during the second quarter valued at $32,000. Advisory Services Network LLC boosted its stake in shares of RBC Bearings by 20.8% during the first quarter. Advisory Services Network LLC now owns 697 shares of the industrial products company’s stock valued at $89,000 after purchasing an additional 120 shares during the period. YorkBridge Wealth Partners LLC boosted its stake in shares of RBC Bearings by 9.1% during the second quarter. YorkBridge Wealth Partners LLC now owns 914 shares of the industrial products company’s stock valued at $152,000 after purchasing an additional 76 shares during the period. Parallel Advisors LLC boosted its stake in shares of RBC Bearings by 27.0% during the second quarter. Parallel Advisors LLC now owns 1,204 shares of the industrial products company’s stock valued at $201,000 after purchasing an additional 256 shares during the period. Finally, Park National Corp OH purchased a new stake in shares of RBC Bearings during the second quarter valued at $204,000. 98.51% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on the stock. BidaskClub lowered shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. ValuEngine lowered shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. RBC Bearings has a consensus rating of “Hold” and a consensus price target of $161.33.

In other RBC Bearings news, VP Richard J. Edwards sold 3,711 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $160.61, for a total transaction of $596,023.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel A. Bergeron sold 20,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $157.74, for a total transaction of $3,154,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,856 shares of company stock valued at $13,800,901. 3.50% of the stock is owned by insiders.

NASDAQ:ROLL opened at $160.80 on Wednesday. RBC Bearings Incorporated has a 1-year low of $123.50 and a 1-year high of $171.54. The company has a 50-day moving average of $161.57 and a 200 day moving average of $153.07. The firm has a market cap of $4.05 billion, a PE ratio of 33.22, a price-to-earnings-growth ratio of 5.25 and a beta of 1.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.15 and a quick ratio of 1.72.

RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.04. RBC Bearings had a net margin of 15.26% and a return on equity of 12.82%. The company had revenue of $182.69 million during the quarter, compared to analyst estimates of $183.13 million. During the same period in the prior year, the firm earned $1.15 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts anticipate that RBC Bearings Incorporated will post 5.28 EPS for the current fiscal year.

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

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