72,153 Shares in RBC Bearings Incorporated (ROLL) Acquired by Cortina Asset Management LLC

Release Time：28 Feb,2018

<p style="text-align:center;"> <img src="/membcentre/editor/attached/image/20180228/20180228150215_99049.jpg" alt="" /> </p> <p> Cortina Asset Management LLC bought a new position in shares of RBC Bearings Incorporated (NASDAQ:ROLL) in the 4th quarter, according to the company in its most recent disclosure with the Securities &amp; Exchange Commission. The firm bought 72,153 shares of the industrial products company’s stock, valued at approximately $9,120,000.&nbsp; </p> <br /> A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ROLL. Wasatch Advisors Inc. grew its stake in 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 worth $151,512,000 after purchasing an additional 203,366 shares during the period. BlackRock Inc. grew its stake in RBC Bearings by 3.8% during the fourth quarter. BlackRock Inc. now owns 2,066,687 shares of the industrial products company’s stock worth $261,229,000 after purchasing an additional 76,161 shares during the period. Port Capital LLC acquired a new stake in RBC Bearings during the fourth quarter worth approximately $9,544,000. Bradley Foster &amp; Sargent Inc. CT grew its stake in RBC Bearings by 48.5% during the third quarter. Bradley Foster &amp; Sargent Inc. CT now owns 183,242 shares of the industrial products company’s stock worth $22,933,000 after purchasing an additional 59,857 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in RBC Bearings by 1.3% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,287,621 shares of the industrial products company’s stock worth $286,296,000 after purchasing an additional 29,134 shares during the period. 98.00% of the stock is owned by institutional investors and hedge funds.&nbsp;<br /> <br /> In other RBC Bearings news, insider Michael J. Hartnett sold 6,300 shares of the stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $128.68, for a total value of $810,684.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael J. Hartnett sold 1,687 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $128.28, for a total value of $216,408.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,387 shares of company stock worth $4,653,387. Corporate insiders own 3.70% of the company’s stock.&nbsp;<br /> <br /> RBC Bearings Incorporated (NASDAQ ROLL) opened at $125.92 on Tuesday. The stock has a market capitalization of $3,020.40, a P/E ratio of 33.70, a price-to-earnings-growth ratio of 5.42 and a beta of 1.29. The company has a quick ratio of 1.65, a current ratio of 4.65 and a debt-to-equity ratio of 0.23. RBC Bearings Incorporated has a fifty-two week low of $88.70 and a fifty-two week high of $139.95.&nbsp;<br /> <br /> RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.19. The business had revenue of $166.86 million for the quarter, compared to analyst estimates of $163.46 million. RBC Bearings had a return on equity of 11.79% and a net margin of 12.52%. The company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 earnings per share. equities analysts expect that RBC Bearings Incorporated will post 3.91 EPS for the current year.&nbsp;<br /> <br /> Several equities research analysts recently commented on the company. BidaskClub cut RBC Bearings from a “hold” rating to a “sell” rating in a research note on Saturday, February 3rd. Zacks Investment Research raised RBC Bearings from a “hold” rating to a “buy” rating and set a $142.00 target price for the company in a research note on Friday, February 2nd. Drexel Hamilton assumed coverage on RBC Bearings in a research note on Thursday, December 21st. They set a “buy” rating and a $140.00 target price for the company. ValuEngine lowered RBC Bearings from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, CL King assumed coverage on RBC Bearings in a report on Wednesday, November 29th. They issued a “buy” rating and a $142.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $141.00.<br />