Short Interest in RBC Bearings Incorporated (NYSE:RBCP) Rises By 50.0%

RBC Bearings Incorporated (NYSE:RBCP) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 2,100 shares, an increase of 50.0% from the August 31st total of 1,400 shares. Based on an average daily volume of 24,900 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On RBC Bearings

Hedge funds have recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division acquired a new position in shares of RBC Bearings in the 1st quarter valued at about $432,000. BlueCrest Capital Management Ltd purchased a new stake in RBC Bearings in the 1st quarter worth approximately $455,000. Maren Capital LLC acquired a new stake in shares of RBC Bearings during the 4th quarter worth approximately $680,000. Van ECK Associates Corp lifted its stake in shares of RBC Bearings by 11.9% in the 1st quarter. Van ECK Associates Corp now owns 163,276 shares of the company’s stock valued at $19,934,000 after purchasing an additional 17,418 shares during the period. Finally, Wells Fargo & Company MN grew its position in RBC Bearings by 13.1% during the fourth quarter. Wells Fargo & Company MN now owns 188,665 shares of the company’s stock valued at $24,491,000 after buying an additional 21,900 shares during the period.

RBC Bearings Stock Performance

Shares of RBCP stock opened at $134.50 on Friday. The stock’s 50-day simple moving average is $128.47 and its 200-day simple moving average is $124.59. RBC Bearings has a fifty-two week low of $103.29 and a fifty-two week high of $136.40.

RBC Bearings Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $5.00 annualized dividend and a dividend yield of 3.72%.

About RBC Bearings

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.