Schwab Charles Investment Management Inc. boosted its holdings in shares of NN, Inc. (NASDAQ:NNBR) by 6.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 142,439 shares of the industrial products company’s stock after acquiring an additional 9,047 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.52% of NN worth $3,910,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Wells Fargo & Company MN raised its position in NN by 0.7% during the first quarter. Wells Fargo & Company MN now owns 25,214 shares of the industrial products company’s stock valued at $635,000 after acquiring an additional 176 shares in the last quarter. Envestnet Asset Management Inc. raised its position in NN by 10.3% during the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock valued at $143,000 after acquiring an additional 530 shares in the last quarter. American International Group Inc. raised its position in NN by 7.1% during the first quarter. American International Group Inc. now owns 16,153 shares of the industrial products company’s stock valued at $407,000 after acquiring an additional 1,064 shares in the last quarter. Teachers Advisors LLC raised its position in NN by 2.6% during the first quarter. Teachers Advisors LLC now owns 48,458 shares of the industrial products company’s stock valued at $1,221,000 after acquiring an additional 1,247 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in NN by 2.8% during the first quarter. JPMorgan Chase & Co. now owns 62,024 shares of the industrial products company’s stock valued at $1,563,000 after acquiring an additional 1,679 shares in the last quarter. 91.27% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently weighed in on the stock. William Blair reaffirmed a “market perform” rating on shares of NN in a research report on Tuesday, July 11th. Zacks Investment Research lowered shares of NN from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. BidaskClub lowered shares of NN from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. KeyCorp reaffirmed a “buy” rating and set a $36.00 price objective on shares of NN in a research report on Sunday, September 17th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $29.00 price objective on shares of NN in a research report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. NN currently has an average rating of “Hold” and an average target price of $33.00.
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In other news, insider Thomas C. Jr. Burwell sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $27.38, for a total transaction of $164,280.00. Following the sale, the insider now owns 37,881 shares in the company, valued at approximately $1,037,181.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven T. Warshaw sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $26.82, for a total value of $53,640.00. Following the sale, the director now owns 58,732 shares in the company, valued at approximately $1,575,192.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,000 shares of company stock worth $436,660. Company insiders own 3.32% of the company’s stock.
NN, Inc. (NASDAQ NNBR) opened at 29.80 on Wednesday. The stock has a 50 day moving average of $27.69 and a 200-day moving average of $27.54. The company’s market cap is $820.69 million. NN, Inc. has a 52-week low of $13.43 and a 52-week high of $31.65.
NN (NASDAQ:NNBR) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $221.00 million. During the same quarter in the prior year, the business posted $0.46 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. On average, analysts forecast that NN, Inc. will post $1.60 EPS for the current year.
NN Company Profile
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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