Dynamic Technology Lab Private Ltd Purchases Shares of 32,049 NN Inc. (NNBR)
Dynamic Technology Lab Private Ltd purchased a new position in shares of NN Inc. (NASDAQ:NNBR) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 32,049 shares of the company’s stock, valued at approximately $448,000. Dynamic Technology Lab Private Ltd owned 0.12% of NN as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Nordea Investment Management AB purchased a new stake in NN during the second quarter valued at $481,000. First Manhattan Co. purchased a new stake in NN during the second quarter valued at $2,937,000. Royal Bank of Canada boosted its stake in NN by 7.8% in the first quarter. Royal Bank of Canada now owns 2,263,002 shares of the company’s stock valued at $30,957,000 after buying an additional 164,535 shares during the last quarter. Skyline Asset Management LP boosted its stake in NN by 26.2% in the first quarter. Skyline Asset Management LP now owns 791,600 shares of the company’s stock valued at $10,829,000 after buying an additional 164,500 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in NN during the first quarter valued at $1,008,000. Hedge funds and other institutional investors own 98.44% of the company’s stock.
NN Inc. (NASDAQ:NNBR) traded up 0.17% during trading on Wednesday, reaching $17.86. The company’s stock had a trading volume of 11,639 shares. The stock’s 50 day moving average is $17.42 and its 200 day moving average is $15.72. NN Inc. has a 12 month low of $10.34 and a 12 month high of $20.85. The company’s market cap is $484.45 million.
NN (NASDAQ:NNBR) last released its earnings results on Wednesday, August 3rd. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. The company earned $214.30 million during the quarter, compared to analyst estimates of $223.14 million. NN had a positive return on equity of 10.72% and a negative net margin of 2.85%. NN’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 earnings per share. On average, equities analysts expect that NN Inc. will post $1.59 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Wednesday, August 31st. NN’s dividend payout ratio is presently -34.15%.
NNBR has been the subject of several research reports. William Blair reissued a “market perform” rating and set a $15.00 price target (down from $18.00) on shares of NN in a report on Friday, June 10th. Zacks Investment Research cut NN from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.50.
NN Company Profile
NN, Inc is a diversified industrial company. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group. Within its Precision Bearing Components Group, the Company manufactures and supplies high precision bearing components, consisting of balls, cylindrical rollers, tapered rollers, spherical rollers and metal retainers for bearing and constant velocity-joint manufacturers.
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