Millennium Management LLC Takes Position in RBC Bearings Incorporated (NASDAQ:ROLL)

Millennium Management LLC purchased a new stake in shares of RBC Bearings Incorporated (NASDAQ:ROLL) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,526 shares of the industrial products company’s stock, valued at approximately $2,342,000. Millennium Management LLC owned 0.08% of RBC Bearings as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wasatch Advisors Inc. increased its stake in shares of RBC Bearings by 20.4% during the fourth quarter. Wasatch Advisors Inc. now owns 1,198,672 shares of the industrial products company’s stock valued at $151,512,000 after purchasing an additional 203,366 shares in the last quarter. BlackRock Inc. increased its stake in shares of RBC Bearings by 3.8% during the fourth quarter. BlackRock Inc. now owns 2,066,687 shares of the industrial products company’s stock valued at $261,229,000 after purchasing an additional 76,161 shares in the last quarter. Port Capital LLC bought a new position in shares of RBC Bearings during the fourth quarter valued at approximately $9,544,000. Cortina Asset Management LLC purchased a new stake in shares of RBC Bearings during the fourth quarter valued at approximately $9,120,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of RBC Bearings by 22.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 352,148 shares of the industrial products company’s stock valued at $44,511,000 after buying an additional 64,511 shares during the last quarter. Institutional investors and hedge funds own 99.43% of the company’s stock.

RBC Bearings opened at $121.94 on Friday, MarketBeat.com reports. RBC Bearings Incorporated has a twelve month low of $120.44 and a twelve month high of $122.10. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.65 and a current ratio of 4.65. The stock has a market capitalization of $2.91 billion, a PE ratio of 38.47, a price-to-earnings-growth ratio of 4.37 and a beta of 1.28.

RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.19. The company had revenue of $166.86 million during the quarter, compared to analysts’ expectations of $163.46 million. RBC Bearings had a net margin of 12.52% and a return on equity of 11.79%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.73 EPS. equities analysts forecast that RBC Bearings Incorporated will post 3.91 earnings per share for the current fiscal year.

In other RBC Bearings news, Director Alan B. Levine sold 4,900 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $115.70, for a total transaction of $566,930.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas C. Crainer sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $124.92, for a total transaction of $624,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,989 shares of company stock valued at $11,736,880. Company insiders own 3.70% of the company’s stock.

Several brokerages recently issued reports on ROLL. BidaskClub cut shares of RBC Bearings from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research downgraded shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $141.00.