NN, Inc. (NASDAQ:NNBR) Shares Bought by Prudential Financial Inc.
Prudential Financial Inc. increased its position in NN, Inc. (NASDAQ:NNBR) by 39.6% during the first quarter, Holdings Channel reports. The institutional investor owned 28,905 shares of the industrial products company’s stock after buying an additional 8,200 shares during the period. Prudential Financial Inc.’s holdings in NN were worth $728,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its stake in NN by 10.3% in the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock worth $143,000 after buying an additional 530 shares in the last quarter. Bank of Montreal Can bought a new stake in NN during the first quarter worth approximately $162,000. US Bancorp DE increased its stake in NN by 4.5% in the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock worth $265,000 after buying an additional 457 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in NN during the fourth quarter worth approximately $220,000. Finally, Metropolitan Life Insurance Co. NY increased its stake in NN by 6.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,698 shares of the industrial products company’s stock worth $356,000 after buying an additional 1,127 shares in the last quarter. 96.04% of the stock is currently owned by hedge funds and other institutional investors.
NN, Inc. (NNBR) opened at 28.45 on Tuesday. The firm’s 50-day moving average is $28.43 and its 200-day moving average is $24.89. The firm has a market cap of $781.38 million, a PE ratio of 46.64 and a beta of 0.63. NN, Inc. has a 12 month low of $13.43 and a 12 month high of $31.65.
NN (NASDAQ:NNBR) last posted its quarterly earnings data on Thursday, May 4th. The industrial products company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.05. NN had a net margin of 2.00% and a return on equity of 14.04%. The company had revenue of $226.31 million during the quarter, compared to analyst estimates of $215.86 million. Equities analysts expect that NN, Inc. will post $1.61 earnings per share for the current year.
A number of analysts recently commented on the stock. William Blair reissued a “market perform” rating on shares of NN in a report on Tuesday, July 11th. Zacks Investment Research downgraded shares of NN from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. TheStreet raised shares of NN from a “c+” rating to a “b” rating in a report on Monday, June 5th. ValuEngine raised shares of NN from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, 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 target price for the company. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $30.67.
NN Company Profile
NN, Inc is a diversified industrial company and a manufacturer of high precision bearing components, industrial plastic products and precision metal components to a range of markets on a global basis. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group.
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