Citadel Advisors LLC Raises Position in NN, Inc. (NNBR)

Citadel Advisors LLC lifted its stake in NN, Inc. (NASDAQ:NNBR) by 15.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,868 shares of the industrial products company’s stock after purchasing an additional 4,064 shares during the period. Citadel Advisors LLC owned 0.11% of NN worth $820,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its holdings in shares of NN by 6.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,288,095 shares of the industrial products company’s stock valued at $57,659,000 after purchasing an additional 142,697 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in NN by 31.2% during the 1st quarter. Nuveen Asset Management LLC now owns 1,176,352 shares of the industrial products company’s stock worth $29,644,000 after acquiring an additional 279,795 shares during the period. Vanguard Group Inc. grew its holdings in NN by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,135,524 shares of the industrial products company’s stock worth $31,171,000 after acquiring an additional 53,688 shares during the period. Skylands Capital LLC grew its holdings in NN by 15.2% during the 2nd quarter. Skylands Capital LLC now owns 469,350 shares of the industrial products company’s stock worth $12,884,000 after acquiring an additional 61,914 shares during the period. Finally, Northern Trust Corp grew its holdings in NN by 10.7% during the 2nd quarter. Northern Trust Corp now owns 388,529 shares of the industrial products company’s stock worth $10,666,000 after acquiring an additional 37,633 shares during the period. 91.27% of the stock is owned by institutional investors and hedge funds.

NNBR has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of NN from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 5th. Stifel Nicolaus reaffirmed a “hold” rating and set a $29.00 target price on shares of NN in a report on Friday, August 4th. William Blair reaffirmed a “market perform” rating on shares of NN in a report on Thursday, August 31st. BidaskClub lowered shares of NN from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Finally, KeyCorp reaffirmed a “buy” rating and set a $36.00 target price on shares of NN in a report on Sunday, September 17th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $33.00.

In other news, insider Thomas C. Jr. Burwell sold 6,000 shares of the stock in a transaction on Monday, September 18th. The shares were 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 directly owns 37,881 shares in the company, valued at $1,037,181.78. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven T. Warshaw sold 2,000 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $26.82, for a total transaction of $53,640.00. Following the sale, the director now owns 58,732 shares of the company’s stock, valued at $1,575,192.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,000 shares of company stock valued at $436,660. 2.80% of the stock is currently owned by corporate insiders.

Shares of NN, Inc. (NASDAQ NNBR) opened at 29.60 on Friday. The firm’s 50-day moving average is $27.01 and its 200-day moving average is $27.28. NN, Inc. has a 12-month low of $13.43 and a 12-month high of $31.65. The firm’s market cap is $815.18 million.

NN (NASDAQ:NNBR) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.03. NN had a negative net margin of 0.77% and a positive return on equity of 14.58%. The company had revenue of $225.88 million during the quarter, compared to analysts’ expectations of $221.00 million. During the same period in the prior year, the company posted $0.46 earnings per share. NN’s revenue for the quarter was up 5.4% compared to the same quarter last year. Analysts predict that NN, Inc. will post $1.60 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Wednesday, August 30th. NN’s dividend payout ratio (DPR) is presently -116.67%.

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NN Profile

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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Institutional Ownership by Quarter for NN (NASDAQ:NNBR)

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