RBC Bearings Incorporated (NYSE:RBCP – Get Rating) declared a quarterly dividend on Thursday, March 16th, Wall Street Journal reports. Investors of record on Friday, March 31st will be paid a dividend of 1.25 per share on Monday, April 17th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend is Thursday, March 30th.
RBC Bearings Stock Performance
RBCP opened at $107.66 on Friday. RBC Bearings has a 1-year low of $81.01 and a 1-year high of $127.19. The company's fifty day moving average price is $112.97 and its two-hundred day moving average price is $112.45.
Get RBC Bearings alerts:Insider Transactions at RBC Bearings
In related news, Director Edward Stewart sold 2,000 shares of the firm's stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $235.32, for a total value of $470,640.00. Following the transaction, the director now owns 23,083 shares of the company's stock, valued at approximately $5,431,891.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Hedge Funds Weigh In On RBC Bearings
Several large investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of RBC Bearings in the first quarter valued at about $36,677,000. Allianz Asset Management GmbH bought a new position in shares of RBC Bearings during the 1st quarter worth approximately $24,332,000. FMR LLC lifted its position in shares of RBC Bearings by 23.4% during the 2nd quarter. FMR LLC now owns 177,600 shares of the company's stock worth $16,906,000 after buying an additional 33,700 shares in the last quarter. Invesco Ltd. purchased a new position in shares of RBC Bearings in the 1st quarter worth approximately $12,491,000. Finally, Wells Fargo & Company MN grew its holdings in shares of RBC Bearings by 12.4% in the second quarter. Wells Fargo & Company MN now owns 120,625 shares of the company's stock valued at $11,385,000 after acquiring an additional 13,300 shares in the last quarter.
About RBC Bearings
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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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