Rhumbline Advisers boosted its stake in shares of NN, Inc. (NASDAQ:NNBR) by 13.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,137 shares of the industrial products company’s stock after buying an additional 3,407 shares during the period. Rhumbline Advisers owned about 0.10% of NN worth $532,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Stifel Financial Corp grew its stake in shares of NN by 33.3% in the 1st quarter. Stifel Financial Corp now owns 20,000 shares of the industrial products company’s stock valued at $480,000 after buying an additional 5,000 shares in the last quarter. Victory Capital Management Inc. boosted its position in NN by 11.5% during the second quarter. Victory Capital Management Inc. now owns 50,550 shares of the industrial products company’s stock worth $955,000 after purchasing an additional 5,200 shares during the period. A.R.T. Advisors LLC acquired a new position in shares of NN during the first quarter worth approximately $239,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of NN by 8.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 147,081 shares of the industrial products company’s stock worth $3,530,000 after buying an additional 10,995 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of NN by 136.3% during the second quarter. Sei Investments Co. now owns 33,151 shares of the industrial products company’s stock worth $627,000 after buying an additional 19,124 shares during the last quarter. Hedge funds and other institutional investors own 95.82% of the company’s stock.
NNBR has been the subject of a number of research analyst reports. Stifel Nicolaus cut their price target on NN from $23.00 to $18.00 and set a “hold” rating for the company in a report on Thursday. ValuEngine lowered NN from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 12th. KeyCorp cut their target price on NN from $36.00 to $28.00 and set an “overweight” rating for the company in a research note on Monday, July 16th. William Blair restated a “market perform” rating on shares of NN in a research note on Friday, September 28th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $33.00 price target on shares of NN in a research report on Sunday, August 12th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $24.40.
Shares of NNBR stock traded down $0.69 during trading hours on Friday, hitting $12.67. 671,025 shares of the company’s stock were exchanged, compared to its average volume of 219,770. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.78 and a current ratio of 2.62. The stock has a market capitalization of $432.58 million, a PE ratio of 8.17 and a beta of 1.10. NN, Inc. has a 52 week low of $12.55 and a 52 week high of $32.90.
NN (NASDAQ:NNBR) last posted its quarterly earnings results on Thursday, August 9th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The business had revenue of $196.30 million for the quarter, compared to analysts’ expectations of $197.21 million. NN had a return on equity of 7.64% and a net margin of 3.05%. The firm’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.51 earnings per share. As a group, analysts forecast that NN, Inc. will post 1.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Monday, September 3rd were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.21%. The ex-dividend date was Thursday, August 30th. NN’s dividend payout ratio is 18.06%.
In related news, CEO Richard D. Holder bought 3,100 shares of the business’s stock in a transaction on Friday, September 14th. The shares were purchased at an average price of $16.04 per share, with a total value of $49,724.00. Following the completion of the purchase, the chief executive officer now owns 173,401 shares of the company’s stock, valued at approximately $2,781,352.04. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Matthew S. Heiter purchased 2,150 shares of the company’s stock in a transaction dated Monday, September 17th. The shares were acquired at an average cost of $15.99 per share, for a total transaction of $34,378.50. Following the transaction, the vice president now owns 18,184 shares of the company’s stock, valued at $290,762.16. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 6,450 shares of company stock worth $103,387. 2.74% of the stock is owned by company insiders.
NN, Inc, a diversified industrial company, designs and manufactures high-precision components and assemblies in the United States, Europe, Asia, Canada, Mexico, South America, and internationally. It operates through Autocam Precision Components Group and Precision Engineered Products Group segments.
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