First Trust Advisors LP bought a new stake in NN, Inc. (NASDAQ:NNBR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 34,035 shares of the industrial products company’s stock, valued at approximately $934,000. First Trust Advisors LP owned about 0.12% of NN as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nuveen Asset Management LLC grew its holdings in NN by 31.2% in the 1st quarter. Nuveen Asset Management LLC now owns 1,176,352 shares of the industrial products company’s stock valued at $29,644,000 after buying an additional 279,795 shares during the last quarter. Algert Global LLC acquired a new stake in NN in the 2nd quarter valued at approximately $2,173,000. Envestnet Asset Management Inc. grew its holdings in NN by 10.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock valued at $143,000 after buying an additional 530 shares during the last quarter. US Bancorp DE grew its holdings in NN by 4.5% in the 1st quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock valued at $265,000 after buying an additional 457 shares during the last quarter. Finally, Teachers Advisors LLC grew its holdings in NN by 13.5% in the 4th quarter. Teachers Advisors LLC now owns 47,211 shares of the industrial products company’s stock valued at $899,000 after buying an additional 5,604 shares during the last quarter. 91.27% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the company. Zacks Investment Research lowered NN from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 9th. BidaskClub lowered NN from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. TheStreet raised NN from a “c+” rating to a “b” rating in a report on Monday, June 5th. William Blair reaffirmed a “market perform” rating on shares of NN in a report on Thursday, August 17th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $36.00 target price on shares of NN in a report on Sunday, September 17th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $31.40.
Shares of NN, Inc. (NNBR) opened at 27.80 on Friday. NN, Inc. has a 12-month low of $13.43 and a 12-month high of $31.65. The firm’s market cap is $765.61 million. The firm has a 50-day moving average price of $26.01 and a 200-day moving average price of $26.78.
NN (NASDAQ:NNBR) last posted its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. NN had a positive return on equity of 14.58% and a negative net margin of 0.77%. The company had revenue of $225.88 million for the quarter, compared to the consensus estimate of $221.00 million. During the same quarter in the prior year, the business earned $0.46 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts anticipate that NN, Inc. will post $1.62 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Wednesday, August 30th. NN’s payout ratio is -116.67%.
In other news, Director Steven T. Warshaw sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $27.08, for a total value of $135,400.00. Following the transaction, the director now owns 58,732 shares of the company’s stock, valued at $1,590,462.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven T. Warshaw sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $27.78, for a total value of $83,340.00. Following the completion of the transaction, the director now directly owns 57,732 shares in the company, valued at approximately $1,603,794.96. The disclosure for this sale can be found here. Insiders sold 16,000 shares of company stock worth $436,660 in the last ninety days. 2.80% of the stock is owned by company insiders.
NN, Inc is a diversified industrial company and a global manufacturer of high precision components and assemblies to a range of markets on a global basis. The Company’s operating segments include: the Precision Engineered Products Group and the Autocam Precision Components Group. Precision Engineered Products Group combines materials science capability with engineering and production solutions to design and manufacture a range of high-precision metal and plastic components, assemblies and finished devices for the medical, electrical, automotive and aerospace end markets.
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