A forming roller adjustment system has a shaft, a key, a roller and a ring. The key fits into a keyway in the shaft and has a projecting portion that projects outwardly from the shaft. The projecting portion includes spaced, transverse channels. The ring is rotatably attached to the roller. The roller and ring each have a shaft aperture that receives the shaft, and a keyway that receives the projecting portion of the key. The ring fits into the channels in the projecting portion of the key. When the keyways on the ring and roller are aligned, the roller is movable along the shaft. When the ring is aligned with one of the channels in the projecting portion of the key and rotated into the channel, the roller is axially locked on the shaft.