Fmr LLC reduced its stake in shares of NN, Inc. (NASDAQ:NNBR) by 23.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 885,130 shares of the industrial products company’s stock after selling 277,006 shares during the period. Fmr LLC owned approximately 3.24% of NN worth $22,306,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in NN by 8.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,145,398 shares of the industrial products company’s stock valued at $40,870,000 after buying an additional 175,151 shares during the period. State Street Corp increased its position in NN by 5.2% in the fourth quarter. State Street Corp now owns 534,187 shares of the industrial products company’s stock valued at $10,174,000 after buying an additional 26,261 shares during the period. Skylands Capital LLC increased its position in NN by 4.5% in the first quarter. Skylands Capital LLC now owns 407,436 shares of the industrial products company’s stock valued at $10,267,000 after buying an additional 17,536 shares during the period. Norges Bank acquired a new position in NN during the fourth quarter valued at approximately $5,388,000. Finally, Pacific Ridge Capital Partners LLC increased its position in NN by 22.0% in the first quarter. Pacific Ridge Capital Partners LLC now owns 280,502 shares of the industrial products company’s stock valued at $7,069,000 after buying an additional 50,514 shares during the period. Institutional investors and hedge funds own 95.85% of the company’s stock.
NN, Inc. (NNBR) opened at 29.20 on Monday. The stock has a 50 day moving average price of $28.30 and a 200 day moving average price of $23.72. The firm has a market cap of $801.98 million, a P/E ratio of 47.87 and a beta of 0.63. NN, Inc. has a 1-year low of $13.43 and a 1-year high of $31.65.
NN (NASDAQ:NNBR) last released its earnings results on Thursday, May 4th. The industrial products company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.05. The company had revenue of $226.31 million during the quarter, compared to the consensus estimate of $215.86 million. NN had a return on equity of 14.04% and a net margin of 2.00%. On average, analysts anticipate that NN, Inc. will post $1.61 EPS for the current year.
NNBR has been the subject of several recent analyst reports. Zacks Investment Research cut shares of NN from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 5th. William Blair reaffirmed a “market perform” rating on shares of NN in a research report on Tuesday, July 11th. ValuEngine raised shares of NN from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. SunTrust Banks, Inc. initiated coverage on shares of NN in a research report on Thursday, June 15th. They set a “buy” rating and a $37.00 price objective for the company. They noted that the move was a valuation call. Finally, TheStreet raised shares of NN from a “c+” rating to a “b” rating in a research report on Monday, June 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $30.67.
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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