LSV Asset Management increased its holdings in NN, Inc. (NASDAQ:NNBR) by 4.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,102 shares of the industrial products company’s stock after buying an additional 5,000 shares during the period. LSV Asset Management owned 0.43% of NN worth $3,241,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nuveen Asset Management LLC raised its position in shares of NN by 31.2% in the first quarter. Nuveen Asset Management LLC now owns 1,176,352 shares of the industrial products company’s stock valued at $29,644,000 after buying an additional 279,795 shares in the last quarter. Algert Global LLC acquired a new stake in shares of NN in the second quarter valued at approximately $2,173,000. Envestnet Asset Management Inc. raised its position in shares of NN by 10.3% in the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock valued at $143,000 after buying an additional 530 shares in the last quarter. US Bancorp DE raised its position in shares of NN by 4.5% in the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock valued at $265,000 after buying an additional 457 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in shares of NN by 13.5% in the fourth quarter. Teachers Advisors LLC now owns 47,211 shares of the industrial products company’s stock valued at $899,000 after buying an additional 5,604 shares in the last quarter. Institutional investors own 91.27% of the company’s stock.
A number of equities research analysts have recently weighed in on NNBR shares. TheStreet upgraded shares of NN from a “c+” rating to a “b” rating in a research report on Monday, June 5th. KeyCorp reiterated a “buy” rating and issued a $36.00 price target on shares of NN in a research report on Sunday. ValuEngine upgraded shares of NN from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. SunTrust Banks, Inc. started coverage on shares of NN in a research report on Thursday, June 15th. They issued a “buy” rating and a $37.00 price target for the company. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of NN from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $31.40.
In other NN news, Director Steven T. Warshaw sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $26.82, for a total value of $53,640.00. Following the sale, the director now directly owns 58,732 shares in the company, valued at approximately $1,575,192.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas C. Jr. Burwell sold 6,000 shares of the 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 completion of the sale, the insider now owns 37,881 shares in the company, valued at $1,037,181.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,000 shares of company stock valued at $436,660. 3.32% of the stock is owned by insiders.
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Shares of NN, Inc. (NNBR) opened at 27.70 on Wednesday. The firm’s market capitalization is $762.86 million. The stock has a 50 day moving average of $26.01 and a 200-day moving average of $26.78. NN, Inc. has a 52-week low of $13.43 and a 52-week high of $31.65.
NN (NASDAQ:NNBR) last released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.03. The company had revenue of $225.88 million during the quarter, compared to the consensus estimate of $221.00 million. NN had a negative net margin of 0.77% and a positive return on equity of 14.58%. NN’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $0.46 EPS. Equities analysts expect that NN, Inc. will post $1.62 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Wednesday, August 30th. NN’s dividend payout ratio (DPR) is presently -116.67%.
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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