Laurion Capital Management LP acquired a new position in RBC Bearings Incorporated (NASDAQ:ROLL) during the 1st quarter, Holdings Channel reports. The fund acquired 2,325 shares of the industrial products company’s stock, valued at approximately $296,000.
Other hedge funds have also bought and sold shares of the company. Raymond James & Associates increased its position in shares of RBC Bearings by 21.0% during the 1st quarter. Raymond James & Associates now owns 103,005 shares of the industrial products company’s stock valued at $13,099,000 after purchasing an additional 17,873 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of RBC Bearings by 68.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 22,965 shares of the industrial products company’s stock valued at $2,920,000 after purchasing an additional 9,315 shares during the last quarter. Moody Aldrich Partners LLC increased its position in shares of RBC Bearings by 39.8% during the 1st quarter. Moody Aldrich Partners LLC now owns 39,718 shares of the industrial products company’s stock valued at $5,051,000 after purchasing an additional 11,308 shares during the last quarter. Comerica Bank increased its position in shares of RBC Bearings by 8.9% during the 1st quarter. Comerica Bank now owns 2,063 shares of the industrial products company’s stock valued at $264,000 after purchasing an additional 169 shares during the last quarter. Finally, Pearl River Capital LLC purchased a new stake in RBC Bearings during the 1st quarter valued at about $86,000. 97.05% of the stock is currently owned by institutional investors and hedge funds.
In other RBC Bearings news, Director Amir Faghri sold 2,500 shares of the stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $127.35, for a total value of $318,375.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.10% of the company’s stock.
RBC Bearings (NASDAQ:ROLL) last issued its earnings results on Thursday, May 23rd. The industrial products company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.11. The company had revenue of $182.20 million during the quarter, compared to analysts’ expectations of $180.76 million. RBC Bearings had a return on equity of 13.01% and a net margin of 14.97%. RBC Bearings’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.08 EPS. As a group, equities research analysts expect that RBC Bearings Incorporated will post 5.21 EPS for the current fiscal year.
Several equities research analysts recently weighed in on ROLL shares. BidaskClub cut RBC Bearings from a “sell” rating to a “strong sell” rating in a report on Saturday, March 30th. ValuEngine upgraded RBC Bearings from a “hold” rating to a “buy” rating in a report on Monday, April 29th. Zacks Investment Research upgraded RBC Bearings from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. SunTrust Banks increased their target price on RBC Bearings to $137.00 and gave the company a “hold” rating in a report on Friday. Finally, William Blair restated an “outperform” rating on shares of RBC Bearings in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. RBC Bearings presently has a consensus rating of “Hold” and a consensus target price of $161.33.
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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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