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

RBC Bearings Incorporated (NYSE:RBCP) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totalling 500 shares, a drop 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 Price Performance

Shares of NYSE:RBCP traded up $0.68 during midday trading on Tuesday, reaching $130.65. The company’s stock had a trading volume of 163 shares, compared to its average volume of 21,983. The business has a 50 day moving average price of $126.81 and a 200 day moving average price of $123.36. RBC Bearings has a 1 year low of $101.97 and a 1 year high of $136.40.

RBC Bearings Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were given a $1.25 dividend. The ex-dividend date was Monday, July 1st. This represents a $5.00 annualized dividend and a dividend yield of 3.83%.

Hedge Funds Weigh In On RBC Bearings

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlueCrest Capital Management Ltd purchased a new stake in RBC Bearings during the first quarter valued at about $455,000. Aequim Alternative Investments LP increased its position in RBC Bearings by 24.2% during the 1st quarter. Aequim Alternative Investments LP now owns 385,000 shares of the company’s stock worth $47,005,000 after purchasing an additional 75,000 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in RBC Bearings in the first quarter valued at approximately $432,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in RBC Bearings in the first quarter valued at approximately $10,633,000. Finally, Van ECK Associates Corp lifted its position in RBC Bearings by 11.9% during the first quarter. Van ECK Associates Corp now owns 163,276 shares of the company’s stock valued at $19,934,000 after buying an additional 17,418 shares in the last quarter.

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.