RBC Bearings (NYSE:RBCP) Shares Up 0.4% – Here’s What Happened

RBC Bearings Incorporated (NYSE:RBCP) shares shot up 0.4% during trading on Tuesday . The stock traded as high as $124.26 and last traded at $123.98. 678,000 shares traded hands during mid-day trading, an increase of 1,763% from the average session volume of 36,387 shares. The stock had previously closed at $123.51.

RBC Bearings Trading Up 0.4 %

The company has a 50-day moving average of $127.51 and a two-hundred day moving average of $125.76.

RBC Bearings Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a $1.25 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $5.00 annualized dividend and a dividend yield of 4.03%.

Institutional Investors Weigh In On RBC Bearings

Large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its holdings in shares of RBC Bearings by 1,199,900.0% in the second quarter. Bank of Montreal Can now owns 36,000 shares of the company’s stock valued at $4,407,000 after purchasing an additional 35,997 shares during the period. Van ECK Associates Corp lifted its holdings in RBC Bearings by 12.3% during the second quarter. Van ECK Associates Corp now owns 183,295 shares of the company’s stock worth $22,415,000 after buying an additional 20,019 shares during the period. BlueCrest Capital Management Ltd purchased a new stake in RBC Bearings during the first quarter worth $455,000. Finally, Aequim Alternative Investments LP lifted its holdings in RBC Bearings by 24.2% during the first quarter. Aequim Alternative Investments LP now owns 385,000 shares of the company’s stock worth $47,005,000 after buying an additional 75,000 shares during the period.

RBC Bearings Company Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.