Castleark Management LLC Has $9.06 Million Position in RBC Bearings Incorporated (ROLL)

Castleark Management LLC lowered its position in RBC Bearings Incorporated (NASDAQ:ROLL) by 1.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,050 shares of the industrial products company’s stock after selling 1,138 shares during the quarter. Castleark Management LLC owned approximately 0.37% of RBC Bearings worth $9,062,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC lifted its stake in RBC Bearings by 2.4% in the second 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 acquiring an additional 53,909 shares during the last quarter. BlackRock Inc. lifted its stake in RBC Bearings by 2.8% in the second quarter. BlackRock Inc. now owns 1,844,217 shares of the industrial products company’s stock valued at $187,666,000 after acquiring an additional 49,694 shares during the last quarter. Vanguard Group Inc. lifted its stake in RBC Bearings by 0.7% in the second quarter. Vanguard Group Inc. now owns 1,817,613 shares of the industrial products company’s stock valued at $184,960,000 after acquiring an additional 12,863 shares during the last quarter. Wells Fargo & Company MN lifted its stake in RBC Bearings by 0.8% in the second quarter. Wells Fargo & Company MN now owns 615,432 shares of the industrial products company’s stock valued at $62,627,000 after acquiring an additional 4,911 shares during the last quarter. Finally, GW&K Investment Management LLC lifted its stake in RBC Bearings by 6.3% in the second quarter. GW&K Investment Management LLC now owns 522,952 shares of the industrial products company’s stock valued at $53,216,000 after acquiring an additional 31,189 shares during the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

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ROLL has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $121.00 price target 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.

RBC Bearings Incorporated (ROLL) traded up 0.712% during mid-day trading on Friday, hitting $126.625. 2,826 shares of the stock were exchanged. The company has a market capitalization of $3.01 billion, a PE ratio of 40.689 and a beta of 1.32. The stock’s 50-day moving average is $117.54 and its 200 day moving average is $105.35. RBC Bearings Incorporated has a 52 week low of $67.99 and a 52 week high of $135.54.

RBC Bearings (NASDAQ:ROLL) last posted its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.09. The company had revenue of $163.90 million during the quarter, compared to analyst estimates of $160.42 million. RBC Bearings had a net margin of 11.91% and a return on equity of 11.25%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 earnings per share. On average, analysts anticipate that RBC Bearings Incorporated will post $3.66 EPS for the current year.

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

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