Versor Investments LP Makes New Investment in RBC Bearings Incorporated (NYSE:RBC)

Versor Investments LP bought a new position in RBC Bearings Incorporated (NYSE:RBC) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 1,453 shares of the industrial products company’s stock, valued at approximately $435,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UMB Bank n.a. lifted its position in shares of RBC Bearings by 416.7% in the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 75 shares during the period. DT Investment Partners LLC purchased a new stake in shares of RBC Bearings in the 2nd quarter worth about $35,000. Opal Wealth Advisors LLC purchased a new stake in shares of RBC Bearings in the 2nd quarter worth about $41,000. Canada Pension Plan Investment Board purchased a new stake in shares of RBC Bearings in the 2nd quarter worth about $54,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of RBC Bearings in the 2nd quarter worth about $68,000.

RBC Bearings Trading Down 0.7 %

NYSE:RBC opened at $313.33 on Friday. The company has a 50-day moving average price of $293.05 and a 200-day moving average price of $285.17. RBC Bearings Incorporated has a 12 month low of $238.21 and a 12 month high of $328.39. The company has a current ratio of 3.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.38. The stock has a market cap of $9.84 billion, a price-to-earnings ratio of 45.74, a P/E/G ratio of 3.61 and a beta of 1.51.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The business had revenue of $397.90 million for the quarter, compared to analysts’ expectations of $403.89 million. During the same period last year, the business earned $2.07 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. Equities analysts predict that RBC Bearings Incorporated will post 8.94 EPS for the current year.

Insider Activity at RBC Bearings

In related news, VP Richard J. Edwards sold 4,200 shares of RBC Bearings stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the completion of the transaction, the vice president now directly owns 12,539 shares of the company’s stock, valued at $3,669,789.13. This trade represents a 25.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael J. Hartnett sold 503 shares of RBC Bearings stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $289.00, for a total transaction of $145,367.00. Following the transaction, the chief executive officer now directly owns 322,588 shares of the company’s stock, valued at approximately $93,227,932. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,327 shares of company stock valued at $11,068,921 in the last three months. Company insiders own 2.60% of the company’s stock.

About RBC Bearings

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.