State Board of Administration of Florida Retirement System cut its position in RBC Bearings Incorporated (NASDAQ:ROLL) by 13.4% during the fourth quarter, Holdings Channel reports. The fund owned 13,275 shares of the company’s stock after selling 2,060 shares during the period. State Board of Administration of Florida Retirement System’s holdings in RBC Bearings were worth $1,232,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of the company. Sei Investments Co. increased its stake in shares of RBC Bearings by 134.4% in the third quarter. Sei Investments Co. now owns 1,498 shares of the company’s stock worth $114,000 after buying an additional 859 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of RBC Bearings by 14.6% in the third quarter. Victory Capital Management Inc. now owns 1,659 shares of the company’s stock worth $127,000 after buying an additional 211 shares during the period. Advisor Group Inc. boosted its stake in shares of RBC Bearings by 8.2% in the third quarter. Advisor Group Inc. now owns 1,774 shares of the company’s stock worth $136,000 after buying an additional 134 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of RBC Bearings during the fourth quarter worth approximately $180,000. Finally, Quantbot Technologies LP purchased a new stake in shares of RBC Bearings during the third quarter worth approximately $218,000.
Shares of RBC Bearings Incorporated (NASDAQ:ROLL) opened at 92.75 on Tuesday. The firm has a 50-day moving average price of $93.11 and a 200-day moving average price of $84.51. The firm has a market cap of $2.19 billion, a PE ratio of 32.22 and a beta of 1.17. RBC Bearings Incorporated has a 52 week low of $67.99 and a 52 week high of $99.92.
RBC Bearings (NASDAQ:ROLL) last posted its quarterly earnings data on Wednesday, February 8th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. RBC Bearings had a return on equity of 11.32% and a net margin of 11.01%. The firm earned $146.70 million during the quarter, compared to analysts’ expectations of $147.66 million. During the same period in the prior year, the business earned $0.73 EPS. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities research analysts predict that RBC Bearings Incorporated will post $3.16 earnings per share for the current year.
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A number of brokerages have commented on ROLL. Zacks Investment Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 10th. William Blair raised RBC Bearings from a “market perform” rating to an “outperform” rating in a research note on Monday, December 12th.
In other news, insider Michael J. Hartnett sold 14,100 shares of the company’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $94.14, for a total value of $1,327,374.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 54,896 shares of company stock valued at $5,199,035 over the last quarter. Company insiders own 4.40% of the company’s stock.
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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