EAM Investors LLC Buys Shares of 27,966 NN, Inc. (NNBR)
EAM Investors LLC bought a new position in NN, Inc. (NASDAQ:NNBR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 27,966 shares of the industrial products company’s stock, valued at approximately $768,000. EAM Investors LLC owned about 0.10% of NN at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nuveen Asset Management LLC grew its position in NN by 31.2% in 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 purchasing an additional 279,795 shares during the last quarter. Algert Global LLC bought a new position in shares of NN in the second quarter valued at approximately $2,173,000. Envestnet Asset Management Inc. boosted its holdings in shares of NN by 10.3% in the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock valued at $143,000 after acquiring an additional 530 shares in the last quarter. US Bancorp DE boosted its holdings in shares of NN by 4.5% in the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock valued at $265,000 after acquiring an additional 457 shares in the last quarter. Finally, Teachers Advisors LLC boosted its holdings in shares of NN by 13.5% in the fourth quarter. Teachers Advisors LLC now owns 47,211 shares of the industrial products company’s stock valued at $899,000 after acquiring an additional 5,604 shares in the last quarter. Hedge funds and other institutional investors own 91.27% of the company’s stock.
Several research firms have recently issued reports on NNBR. William Blair reiterated a “market perform” rating on shares of NN in a report on Tuesday, July 11th. ValuEngine upgraded shares of NN from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research cut shares of NN from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. TheStreet upgraded shares of NN from a “c+” rating to a “b” rating in a report on Monday, June 5th. Finally, BidaskClub cut shares of NN from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $31.40.
Shares of NN, Inc. (NASDAQ NNBR) opened at 29.75 on Friday. NN, Inc. has a 1-year low of $13.43 and a 1-year high of $31.65. The firm’s market capitalization is $819.32 million. The company’s 50-day moving average is $26.01 and its 200 day moving average is $26.78.
NN (NASDAQ:NNBR) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, topping the 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 quarter in the previous year, the company earned $0.46 EPS. NN’s revenue was up 5.4% on a year-over-year basis. On average, analysts expect that NN, Inc. will post $1.62 EPS for the current fiscal year.
The firm also recently declared 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 0.94%. The ex-dividend date of this dividend was Wednesday, August 30th. NN’s dividend payout ratio is -116.67%.
In other news, Director Steven T. Warshaw sold 5,000 shares of NN stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $27.08, for a total transaction of $135,400.00. Following the completion of the sale, the director now owns 58,732 shares in the company, valued at approximately $1,590,462.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven T. Warshaw sold 2,000 shares of NN stock in a transaction that occurred 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 approximately $1,575,192.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,000 shares of company stock valued at $436,660. 2.80% of the stock is owned by corporate insiders.
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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