Victory Capital Management Inc. decreased its holdings in shares of NN, Inc. (NASDAQ:NNBR) by 34.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,350 shares of the industrial products company’s stock after selling 23,826 shares during the quarter. Victory Capital Management Inc. owned about 0.16% of NN worth $1,217,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in shares of NN by 0.7% during the 1st 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 during the last quarter. US Bancorp DE boosted its position in shares of NN by 4.5% during the 1st quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock valued at $265,000 after acquiring an additional 457 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of NN by 10.3% during the 1st 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 during the last quarter. American International Group Inc. boosted its position in shares of NN by 7.1% during the 1st 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 during the last quarter. Finally, Teachers Advisors LLC boosted its position in shares of NN by 2.6% during the 1st 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 during the last quarter. 91.27% of the stock is owned by institutional investors and hedge funds.
NN, Inc. (NNBR) opened at 26.85 on Friday. The firm has a 50-day moving average of $26.01 and a 200-day moving average of $26.55. The firm’s market cap is $739.45 million. NN, Inc. has a 52-week low of $13.43 and a 52-week high of $31.65.
NN (NASDAQ:NNBR) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $225.88 million during the quarter, compared to analysts’ expectations of $221.00 million. NN had a positive return on equity of 14.58% and a negative net margin of 0.77%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 EPS. Equities analysts anticipate that NN, Inc. will post $1.62 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Wednesday, August 30th. NN’s payout ratio is -116.67%.
Several research analysts have recently weighed in on NNBR shares. SunTrust Banks, Inc. started coverage on shares of NN in a research report on Thursday, June 15th. They set a “buy” rating and a $37.00 price target on the stock. They noted that the move was a valuation call. Zacks Investment Research cut shares of NN from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. BidaskClub cut shares of NN from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. ValuEngine raised shares of NN from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, William Blair reissued a “market perform” rating on shares of NN in a research report on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $30.25.
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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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