Emerald Advisers Inc. PA Invests $490,000 in NN Inc. (NNBR)
Emerald Advisers Inc. PA acquired a new position in NN Inc. (NASDAQ:NNBR) during the second quarter, Holdings Channel reports. The institutional investor acquired 35,034 shares of the company’s stock, valued at approximately $490,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of NNBR. Royal Bank of Canada increased its position in NN by 7.8% in the first quarter. Royal Bank of Canada now owns 2,263,002 shares of the company’s stock worth $30,957,000 after buying an additional 164,535 shares during the last quarter. Wellington Management Group LLP increased its position in NN by 21.0% in the first quarter. Wellington Management Group LLP now owns 1,557,773 shares of the company’s stock worth $21,310,000 after buying an additional 270,391 shares during the last quarter. Royce & Associates LP increased its position in NN by 2.0% in the first quarter. Royce & Associates LP now owns 1,416,666 shares of the company’s stock worth $19,380,000 after buying an additional 28,400 shares during the last quarter. Primecap Management Co. CA increased its position in NN by 12.6% in the first quarter. Primecap Management Co. CA now owns 1,039,742 shares of the company’s stock worth $14,224,000 after buying an additional 116,742 shares during the last quarter. Finally, Skyline Asset Management LP increased its position in NN by 26.2% in the first quarter. Skyline Asset Management LP now owns 791,600 shares of the company’s stock worth $10,829,000 after buying an additional 164,500 shares during the last quarter. Institutional investors and hedge funds own 98.44% of the company’s stock.
NN Inc. (NASDAQ:NNBR) traded up 1.32% on Wednesday, reaching $19.25. The company’s stock had a trading volume of 122,832 shares. The firm’s 50-day moving average price is $18.24 and its 200 day moving average price is $16.34. The company’s market cap is $522.16 million. NN Inc. has a 52-week low of $10.34 and a 52-week high of $20.39.
NN (NASDAQ:NNBR) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. NN had a positive return on equity of 10.72% and a negative net margin of 2.85%. The firm had revenue of $214.30 million for the quarter, compared to analyst estimates of $223.14 million. During the same quarter in the previous year, the company posted $0.37 EPS. The business’s revenue was up 30.0% on a year-over-year basis. Equities analysts anticipate that NN Inc. will post $1.61 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were given a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.47%. NN’s dividend payout ratio (DPR) is presently -34.15%.
Separately, Zacks Investment Research upgraded NN from a “strong sell” rating to a “hold” rating and set a $23.00 price objective for the company in a report on Wednesday, October 5th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $18.00.
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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