RBC Bearings Incorporated (NYSE:RBCP) Sees Large Decline in Short Interest

RBC Bearings Incorporated (NYSE:RBCP) was the recipient of a significant decrease in short interest in July. As of July 15th, there was short interest totalling 500 shares, a decrease of 16.7% from the June 30th total of 600 shares. Based on an average trading volume of 27,100 shares, the days-to-cover ratio is presently 0.0 days.

RBC Bearings Stock Performance

RBCP stock traded up $0.68 during trading hours on Tuesday, reaching $130.65. The stock had a trading volume of 163 shares, compared to its average volume of 21,983. The stock has a 50-day simple moving average of $126.81 and a 200 day simple moving average of $123.36. RBC Bearings has a fifty-two week low of $101.97 and a fifty-two week high of $136.40.

RBC Bearings Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend was Monday, July 1st.

Institutional Trading of RBC Bearings

A number of hedge funds have recently made changes to their positions in RBCP. Calamos Advisors LLC lifted its holdings in RBC Bearings by 0.9% during the 4th quarter. Calamos Advisors LLC now owns 47,565 shares of the company’s stock valued at $6,174,000 after purchasing an additional 422 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of RBC Bearings during the 1st quarter worth about $432,000. BlueCrest Capital Management Ltd bought a new stake in shares of RBC Bearings during the 1st quarter worth about $455,000. Maren Capital LLC bought a new position in RBC Bearings in the 4th quarter valued at about $680,000. Finally, Van ECK Associates Corp boosted its holdings in shares of RBC Bearings by 8.8% during the fourth quarter. Van ECK Associates Corp now owns 145,858 shares of the company’s stock worth $18,934,000 after acquiring an additional 11,778 shares during the period.

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.