Clearbridge Investments LLC Boosts Position in RBC Bearings Incorporated (NASDAQ:ROLL)

Jun 13, 2023

Clearbridge Investments LLC grew its holdings in shares of RBC Bearings Incorporated (NASDAQ:ROLL - Get Rating) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,254,631 shares of the company's stock after buying an additional 4,538 shares during the period. Clearbridge Investments LLC owned 4.34% of RBC Bearings worth $262,657,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. IFP Advisors Inc increased its stake in shares of RBC Bearings by 40.4% during the third quarter. IFP Advisors Inc now owns 313 shares of the company's stock valued at $40,000 after buying an additional 90 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in RBC Bearings by 27.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 716 shares of the company's stock worth $148,000 after purchasing an additional 153 shares in the last quarter. FourThought Financial LLC raised its holdings in RBC Bearings by 9.0% in the third quarter. FourThought Financial LLC now owns 750 shares of the company's stock worth $156,000 after purchasing an additional 62 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in RBC Bearings in the fourth quarter worth $211,000. Finally, CIBC Asset Management Inc bought a new position in RBC Bearings in the third quarter worth $222,000.

Separately, StockNews.com assumed coverage on RBC Bearings in a report on Wednesday, May 17th. They issued a "hold" rating for the company.

ROLL opened at $212.38 on Monday. The stock has a fifty day simple moving average of $221.59 and a two-hundred day simple moving average of $227.42. The company has a market cap of $6.14 billion, a price-to-earnings ratio of 103.10 and a beta of 1.34. RBC Bearings Incorporated has a 12-month low of $152.90 and a 12-month high of $264.94.

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components 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.

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