Suntrust Banks Inc. Has $310,000 Stake in NN, Inc. (NNBR)
Suntrust Banks Inc. decreased its holdings in shares of NN, Inc. (NASDAQ:NNBR) by 35.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,300 shares of the industrial products company’s stock after selling 6,100 shares during the quarter. Suntrust Banks Inc.’s holdings in NN were worth $310,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Wells Fargo & Company MN grew its position in shares of NN by 0.7% during the 1st quarter. Wells Fargo & Company MN now owns 25,214 shares of the industrial products company’s stock worth $635,000 after buying an additional 176 shares during the period. Envestnet Asset Management Inc. grew its position in shares of NN by 10.3% during the 1st 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 during the period. Teachers Advisors LLC grew its position in shares of NN by 1.5% during the 2nd quarter. Teachers Advisors LLC now owns 49,164 shares of the industrial products company’s stock worth $1,350,000 after buying an additional 706 shares during the period. American International Group Inc. grew its position in shares of NN by 7.1% during the 1st quarter. American International Group Inc. now owns 16,153 shares of the industrial products company’s stock worth $407,000 after buying an additional 1,064 shares during the period. Finally, AlphaOne Investment Services LLC grew its position in shares of NN by 1.1% during the 2nd quarter. AlphaOne Investment Services LLC now owns 132,642 shares of the industrial products company’s stock worth $3,642,000 after buying an additional 1,400 shares during the period. Institutional investors own 91.27% of the company’s stock.
Several equities research analysts have recently commented on the stock. KeyCorp reiterated a “buy” rating and set a $36.00 price target on shares of NN in a research report on Sunday, September 17th. Zacks Investment Research cut shares of NN from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. BidaskClub lowered shares of NN from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. William Blair reissued a “market perform” rating on shares of NN in a research note on Tuesday, July 11th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $29.00 price objective on shares of NN in a research note on Friday, August 4th. Two 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 company. The company presently has an average rating of “Hold” and an average target price of $33.00.
NN, Inc. (NNBR) opened at 30.20 on Friday. NN, Inc. has a 1-year low of $13.43 and a 1-year high of $31.65. The company’s market cap is $831.71 million. The company’s 50-day moving average is $27.69 and its 200 day moving average is $27.52.
NN (NASDAQ:NNBR) last announced its quarterly earnings data 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. The company had revenue of $225.88 million during the quarter, compared to the consensus estimate of $221.00 million. NN had a negative net margin of 0.77% and a positive return on equity of 14.58%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 EPS. On average, equities analysts predict that NN, Inc. will post $1.60 EPS for the current fiscal year.
The business also recently disclosed 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 0.93%. The ex-dividend date of this dividend was Wednesday, August 30th. NN’s dividend payout ratio (DPR) is -116.67%.
In other news, Director Steven T. Warshaw sold 5,000 shares of the firm’s 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 of the company’s stock, valued at approximately $1,590,462.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven T. Warshaw sold 2,000 shares of the firm’s 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 directly 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 ninety days, insiders have sold 16,000 shares of company stock valued at $436,660. Insiders own 2.80% of the company’s stock.
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NN Company Profile
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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