Short Interest in RBC Bearings Incorporated (NYSE:RBCP) Decreases By 16.7%

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.

Hedge Funds Weigh In On RBC Bearings

A number of institutional investors have recently bought and sold shares of RBCP. Calamos Advisors LLC boosted its stake in shares of RBC Bearings by 0.9% during the 4th quarter. Calamos Advisors LLC now owns 47,565 shares of the company’s stock worth $6,174,000 after acquiring an additional 422 shares during the period. Van ECK Associates Corp boosted its position in 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 purchasing an additional 11,778 shares during the period. SSI Investment Management LLC increased its holdings in shares of RBC Bearings by 169.7% in the fourth quarter. SSI Investment Management LLC now owns 65,665 shares of the company’s stock valued at $8,553,000 after purchasing an additional 41,320 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of RBC Bearings by 13.1% in the fourth quarter. Wells Fargo & Company MN now owns 188,665 shares of the company’s stock valued at $24,491,000 after purchasing an additional 21,900 shares during the period. Finally, Weiss Asset Management LP acquired a new stake in shares of RBC Bearings during the 4th quarter worth about $6,516,000.

RBC Bearings Price Performance

Shares of RBCP remained flat at $128.60 during midday trading on Friday. 392 shares of the stock were exchanged, compared to its average volume of 22,359. The company’s 50 day simple moving average is $126.89 and its 200 day simple moving average is $123.33. RBC Bearings has a 52 week low of $101.97 and a 52 week high of $136.40.

RBC Bearings Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend was Monday, July 1st.

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.