M&T Bank Corp Grows Holdings in RBC Bearings Incorporated (ROLL)

M&T Bank Corp grew its holdings in shares of RBC Bearings Incorporated (NASDAQ:ROLL) by 9.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,833 shares of the industrial products company’s stock after buying an additional 1,402 shares during the quarter. M&T Bank Corp owned 0.07% of RBC Bearings worth $1,967,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Global X Management Co. LLC raised its holdings in RBC Bearings by 75.0% in the fourth quarter. Global X Management Co. LLC now owns 1,645 shares of the industrial products company’s stock valued at $208,000 after acquiring an additional 705 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in RBC Bearings by 58.7% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,857 shares of the industrial products company’s stock valued at $231,000 after buying an additional 687 shares in the last quarter. Guggenheim Capital LLC bought a new position in RBC Bearings in the 4th quarter valued at about $276,000. SG Americas Securities LLC lifted its holdings in RBC Bearings by 56.4% in the 4th quarter. SG Americas Securities LLC now owns 2,368 shares of the industrial products company’s stock valued at $299,000 after acquiring an additional 854 shares during the last quarter. Finally, Xact Kapitalforvaltning AB acquired a new stake in RBC Bearings in the 4th quarter valued at about $312,000. Institutional investors own 97.77% of the company’s stock.

In related news, VP Patrick S. Bannon sold 447 shares of RBC Bearings stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $124.00, for a total value of $55,428.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael J. Hartnett sold 27,421 shares of the business’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $128.06, for a total value of $3,511,533.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,089 shares of company stock valued at $8,689,350. 3.70% of the stock is currently owned by corporate insiders.

Shares of NASDAQ ROLL opened at $123.83 on Thursday. RBC Bearings Incorporated has a 52-week low of $94.97 and a 52-week high of $139.95. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 39.06, a P/E/G ratio of 4.45 and a beta of 1.28. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.65 and a quick ratio of 1.65.

A number of research firms have recently issued reports on ROLL. Zacks Investment Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 20th. BidaskClub upgraded RBC Bearings from a “sell” rating to a “hold” rating in a report on Wednesday, March 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $141.00.