BNP Paribas Arbitrage SA Trims Stock Position in RBC Bearings Incorporated (NASDAQ:ROLL)

BNP Paribas Arbitrage SA lowered its stake in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 36.2% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 3,576 shares of the industrial products company’s stock after selling 2,031 shares during the period. BNP Paribas Arbitrage SA’s holdings in RBC Bearings were worth $597,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ROLL. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of RBC Bearings by 1.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,386,323 shares of the industrial products company’s stock valued at $303,469,000 after acquiring an additional 34,322 shares during the period. Wasatch Advisors Inc. grew its position in shares of RBC Bearings by 1.5% during the 1st quarter. Wasatch Advisors Inc. now owns 1,459,874 shares of the industrial products company’s stock valued at $185,652,000 after acquiring an additional 21,791 shares during the period. Dimensional Fund Advisors LP grew its position in shares of RBC Bearings by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 570,808 shares of the industrial products company’s stock valued at $74,833,000 after acquiring an additional 11,258 shares during the period. OppenheimerFunds Inc. grew its position in shares of RBC Bearings by 7.9% during the 1st quarter. OppenheimerFunds Inc. now owns 423,833 shares of the industrial products company’s stock valued at $53,898,000 after acquiring an additional 30,971 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of RBC Bearings by 1.0% during the 1st quarter. Janus Henderson Group PLC now owns 373,958 shares of the industrial products company’s stock valued at $47,556,000 after acquiring an additional 3,723 shares during the period. Institutional investors and hedge funds own 98.65% of the company’s stock.

ROLL stock opened at $157.76 on Thursday. The company has a current ratio of 5.15, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05. RBC Bearings Incorporated has a 12-month low of $123.50 and a 12-month high of $171.54. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 32.60, a PEG ratio of 5.14 and a beta of 1.26. The business’s 50-day moving average is $162.10 and its 200 day moving average is $145.30.

RBC Bearings (NASDAQ:ROLL) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.04. RBC Bearings had a return on equity of 12.82% and a net margin of 15.26%. The company had revenue of $182.69 million for the quarter, compared to analysts’ expectations of $183.13 million. During the same period in the previous year, the firm posted $1.15 EPS. RBC Bearings’s revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts forecast that RBC Bearings Incorporated will post 5.3 EPS for the current fiscal year.

In related news, CFO Daniel A. Bergeron sold 20,000 shares of RBC Bearings stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $157.74, for a total value of $3,154,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Patrick S. Bannon sold 1,693 shares of RBC Bearings stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $147.00, for a total value of $248,871.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,011 shares of company stock worth $10,375,774. 3.50% of the stock is currently owned by insiders.

A number of research firms have recently commented on ROLL. BidaskClub cut RBC Bearings from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. William Blair restated an “outperform” rating on shares of RBC Bearings in a research report on Friday, May 24th. SunTrust Banks raised their target price on RBC Bearings to $137.00 and gave the company a “hold” rating in a research report on Friday, May 24th. Finally, ValuEngine upgraded RBC Bearings from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $161.33.