RBC Bearings Incorporated (ROLL) Position Raised by Nationwide Fund Advisors

Nationwide Fund Advisors boosted its position in RBC Bearings Incorporated (NASDAQ:ROLL) by 7.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 167,606 shares of the industrial products company’s stock after purchasing an additional 11,043 shares during the period. Nationwide Fund Advisors owned about 0.71% of RBC Bearings worth $17,056,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the stock. TIAA CREF Investment Management LLC lifted its stake in RBC Bearings by 1.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 62,401 shares of the industrial products company’s stock valued at $6,350,000 after purchasing an additional 1,080 shares during the last quarter. Timpani Capital Management LLC lifted its stake in RBC Bearings by 16.0% in the 2nd quarter. Timpani Capital Management LLC now owns 21,606 shares of the industrial products company’s stock valued at $2,199,000 after purchasing an additional 2,974 shares during the last quarter. Alliancebernstein L.P. lifted its stake in RBC Bearings by 3.3% in the 2nd quarter. Alliancebernstein L.P. now owns 352,407 shares of the industrial products company’s stock valued at $35,861,000 after purchasing an additional 11,135 shares during the last quarter. Wells Fargo & Company MN lifted its stake in RBC Bearings by 0.8% in the 2nd quarter. Wells Fargo & Company MN now owns 615,432 shares of the industrial products company’s stock valued at $62,627,000 after purchasing an additional 4,911 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in RBC Bearings by 2.4% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,258,487 shares of the industrial products company’s stock valued at $229,824,000 after purchasing an additional 53,909 shares during the last quarter. Institutional investors and hedge funds own 99.87% of the company’s stock.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Friday, August 25th. BidaskClub upgraded shares of RBC Bearings from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th.

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RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.09. RBC Bearings had a net margin of 11.91% and a return on equity of 11.25%. The business had revenue of $163.90 million for the quarter, compared to analysts’ expectations of $160.42 million. During the same period in the previous year, the company earned $0.77 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year.

RBC Bearings 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.

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

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