Trexquant Investment LP reduced its position in shares of NN, Inc. (NASDAQ:NNBR) by 33.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,235 shares of the industrial products company’s stock after selling 7,807 shares during the period. Trexquant Investment LP owned approximately 0.06% of NN worth $384,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wells Fargo & Company MN increased its position in NN by 0.7% in the first quarter. Wells Fargo & Company MN now owns 25,214 shares of the industrial products company’s stock worth $635,000 after buying an additional 176 shares during the period. Redmond Asset Management LLC increased its position in NN by 0.7% in the fourth quarter. Redmond Asset Management LLC now owns 25,524 shares of the industrial products company’s stock worth $486,000 after buying an additional 184 shares during the period. US Bancorp DE increased its position in NN by 4.5% in the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock worth $265,000 after buying an additional 457 shares during the period. First Manhattan Co. increased its position in NN by 0.5% in the first quarter. First Manhattan Co. now owns 209,600 shares of the industrial products company’s stock worth $3,825,000 after buying an additional 950 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its position in NN by 6.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,698 shares of the industrial products company’s stock worth $356,000 after buying an additional 1,127 shares during the period. 96.99% of the stock is currently owned by institutional investors.
Shares of NN, Inc. (NASDAQ:NNBR) traded up 1.53% during mid-day trading on Friday, reaching $29.85. The company had a trading volume of 305,072 shares. The stock has a 50 day moving average of $28.07 and a 200-day moving average of $22.28. NN, Inc. has a one year low of $12.77 and a one year high of $31.65. The firm has a market capitalization of $819.83 million, a price-to-earnings ratio of 48.93 and a beta of 0.86.
NN (NASDAQ:NNBR) last issued its quarterly earnings data on Thursday, May 4th. The industrial products company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.05. NN had a negative net margin of 2.73% and a positive return on equity of 11.50%. The company had revenue of $226.31 million for the quarter, compared to analysts’ expectations of $215.86 million. Equities analysts predict that NN, Inc. will post $1.83 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, June 2nd will be paid a $0.07 dividend. The ex-dividend date is Wednesday, May 31st. This represents a $0.28 annualized dividend and a dividend yield of 0.94%. NN’s dividend payout ratio is -33.33%.
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A number of research analysts have recently weighed in on the company. ValuEngine raised NN from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research raised NN from a “sell” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Tuesday, March 7th.
NN Company Profile
NN, Inc is a diversified industrial company and a manufacturer of high precision bearing components, industrial plastic products and precision metal components to a range of markets on a global basis. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group.
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