Should You Invest in RBC Bearings Incorporated (RBC)?

Wasatch Global Investors, an asset management company, released its “Wasatch Small Cap Core Growth Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy underperformed its benchmark index, the Russell 2000 Growth Index. The stock price weakness of investments in health care, industrials, financials, and consumer discretionary sectors pulled the strategy’s performance relative to the benchmark index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Wasatch Global Investors highlighted stocks like RBC Bearings Incorporated (NYSE:RBC) in its Q3 2022 investor letter. Headquartered in Oxford, Connecticut, RBC Bearings Incorporated (NYSE:RBC) is an engineered precision bearings and components manufacturer. On December 9, 2022, RBC Bearings Incorporated (NYSE:RBC) stock closed at $218.77 per share. One-month return of RBC Bearings Incorporated (NYSE:RBC) was -10.52%, and its shares gained 7.12% of their value over the last 52 weeks. RBC Bearings Incorporated (NYSE:RBC) has a market capitalization of $6.348 billion.

Wasatch Global Investors made the following comment about RBC Bearings Incorporated (NYSE:RBC) in its Q3 2022 investor letter:

“RBC Bearings Incorporated (NYSE:RBC) also contributed. The company sells highly engineered precision bearings and components to the industrial, defense and aerospace industries. Despite its volatility, the stock had been a reasonably good performer over the past several years. From late-2021 through mid-2022, however, the stock was down because investors became nervous about a large acquisition RBC made—likely due to the debt issuance required to pay for the acquisition and due to the follow-on integration challenges. From our perspective, however, we thought there was nothing unusual about stock volatility surrounding an acquisition and we maintained our position in RBC. During the third quarter, we were rewarded for our patience.”

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RBC Bearings Incorporated (NYSE:RBC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held RBC Bearings Incorporated (NYSE:RBC) at the end of the third quarter, which was 15 in the previous quarter.

We discussed RBC Bearings Incorporated (NYSE:RBC) in another article and shared Alger Capital’s views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.