AlphaOne Investment Services LLC Has $3.64 Million Holdings in NN, Inc. (NNBR)
AlphaOne Investment Services LLC boosted its holdings in NN, Inc. (NASDAQ:NNBR) by 1.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 132,642 shares of the industrial products company’s stock after purchasing an additional 1,400 shares during the quarter. AlphaOne Investment Services LLC owned 0.49% of NN worth $3,642,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of NNBR. D.A. Davidson & CO. acquired a new stake in NN in the 2nd quarter worth about $139,000. Envestnet Asset Management Inc. raised its stake in NN by 10.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock worth $143,000 after purchasing an additional 530 shares in the last quarter. Bank of Montreal Can acquired a new stake in NN in the 1st quarter worth about $162,000. US Bancorp DE raised its stake in NN by 4.5% in the 1st quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock worth $265,000 after purchasing an additional 457 shares in the last quarter. Finally, American International Group Inc. raised its stake in NN by 7.1% in the 1st quarter. American International Group Inc. now owns 16,153 shares of the industrial products company’s stock worth $407,000 after purchasing an additional 1,064 shares in the last quarter. Institutional investors and hedge funds own 91.27% of the company’s stock.
Several analysts have weighed in on NNBR shares. TheStreet upgraded shares of NN from a “c+” rating to a “b” rating in a research note on Monday, June 5th. KeyCorp reiterated a “buy” rating and issued a $36.00 price objective on shares of NN in a research note on Sunday. ValuEngine upgraded shares of NN from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. SunTrust Banks, Inc. started coverage on shares of NN in a research note on Thursday, June 15th. They issued a “buy” rating and a $37.00 price objective for the company. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of NN from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $31.40.
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In other news, insider Thomas C. Jr. Burwell sold 6,000 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $27.38, for a total value of $164,280.00. Following the sale, the insider now directly owns 37,881 shares of the company’s stock, valued at $1,037,181.78. The sale was disclosed in a legal 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 dated Thursday, September 14th. The stock was sold at an average price of $26.82, for a total transaction of $53,640.00. Following the completion of the sale, the director now directly owns 58,732 shares in the company, valued at $1,575,192.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,000 shares of company stock worth $436,660. Insiders own 3.32% of the company’s stock.
NN, Inc. (NASDAQ NNBR) remained flat at $27.70 during trading on Wednesday. 53,982 shares of the stock were exchanged. NN, Inc. has a 12 month low of $13.43 and a 12 month high of $31.65. The firm’s market capitalization is $762.86 million. The firm’s 50-day moving average price is $26.01 and its 200 day moving average price is $26.78.
NN (NASDAQ:NNBR) last announced its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $225.88 million for the quarter, compared to the consensus estimate of $221.00 million. During the same period in the prior year, the firm posted $0.46 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts predict that NN, Inc. will post $1.62 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Wednesday, August 30th. NN’s payout ratio is -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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