Maren Capital LLC Grows Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

Maren Capital LLC boosted its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 379,113 shares of the industrial products company’s stock after buying an additional 13,812 shares during the quarter. RBC Bearings makes up approximately 9.3% of Maren Capital LLC’s holdings, making the stock its 2nd largest holding. Maren Capital LLC owned about 1.21% of RBC Bearings worth $113,499,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. UMB Bank n.a. lifted its holdings in RBC Bearings by 416.7% in the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock valued at $28,000 after buying an additional 75 shares during the period. DT Investment Partners LLC acquired a new position in shares of RBC Bearings in the 2nd quarter valued at $35,000. Opal Wealth Advisors LLC bought a new position in shares of RBC Bearings in the 2nd quarter worth $41,000. Canada Pension Plan Investment Board acquired a new stake in shares of RBC Bearings during the second quarter worth $54,000. Finally, Strategic Financial Concepts LLC acquired a new position in RBC Bearings in the second quarter valued at about $68,000.

RBC Bearings Stock Up 1.7 %

NYSE:RBC opened at $341.03 on Wednesday. The stock has a 50-day simple moving average of $303.05 and a 200 day simple moving average of $291.47. RBC Bearings Incorporated has a 52-week low of $240.36 and a 52-week high of $343.92. The company has a market cap of $10.71 billion, a PE ratio of 49.79, a PEG ratio of 4.61 and a beta of 1.55. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.29 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). The business had revenue of $397.90 million during the quarter, compared to the consensus estimate of $403.89 million. RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.07 EPS. On average, sell-side analysts expect that RBC Bearings Incorporated will post 8.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RBC has been the subject of a number of recent analyst reports. Truist Financial upped their price target on RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. KeyCorp raised shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price target on the stock in a research report on Friday, November 22nd. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Finally, Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and boosted their target price for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $324.67.

Insider Buying and Selling

In related news, CEO Michael J. Hartnett sold 503 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $93,227,932. The trade was a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 34,127 shares of company stock worth $9,839,707. Corporate insiders own 2.60% of the company’s stock.

RBC Bearings Company Profile

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.