Dimensional Fund Advisors LP grew its stake in NN, Inc. (NASDAQ:NNBR) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,306,845 shares of the industrial products company’s stock after buying an additional 18,750 shares during the quarter. Dimensional Fund Advisors LP owned approximately 8.45% of NN worth $63,323,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Nuveen Asset Management LLC increased its position in NN by 31.2% in the first quarter. Nuveen Asset Management LLC now owns 1,176,352 shares of the industrial products company’s stock worth $29,644,000 after buying an additional 279,795 shares in the last quarter. Vanguard Group Inc. increased its position in NN by 5.0% in the second quarter. Vanguard Group Inc. now owns 1,135,524 shares of the industrial products company’s stock worth $31,171,000 after buying an additional 53,688 shares in the last quarter. Skylands Capital LLC increased its position in NN by 15.2% in the second quarter. Skylands Capital LLC now owns 469,350 shares of the industrial products company’s stock worth $12,884,000 after buying an additional 61,914 shares in the last quarter. Northern Trust Corp increased its position in NN by 10.7% in the second quarter. Northern Trust Corp now owns 388,529 shares of the industrial products company’s stock worth $10,666,000 after buying an additional 37,633 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in NN by 8.1% in the first quarter. Geode Capital Management LLC now owns 217,710 shares of the industrial products company’s stock worth $5,486,000 after buying an additional 16,404 shares in the last quarter. Institutional investors and hedge funds own 91.27% of the company’s stock.
In related news, Director Steven T. Warshaw sold 3,000 shares of NN stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $27.78, for a total value of $83,340.00. Following the completion of the transaction, the director now owns 57,732 shares in the company, valued at approximately $1,603,794.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven T. Warshaw sold 2,000 shares of NN stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $26.82, for a total value of $53,640.00. Following the completion of the transaction, 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 90 days, insiders sold 16,000 shares of company stock valued at $436,660. 2.80% of the stock is owned by company insiders.
A number of analysts have commented on NNBR shares. KeyCorp restated a “buy” rating and issued a $36.00 price target on shares of NN in a research report on Sunday, September 17th. Stifel Nicolaus restated a “hold” rating and issued a $29.00 price target on shares of NN in a research report on Friday, August 4th. Zacks Investment Research cut NN from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 5th. William Blair restated a “market perform” rating on shares of NN in a research report on Thursday, August 31st. Finally, BidaskClub cut NN from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $33.00.
Shares of NN, Inc. (NASDAQ NNBR) opened at 30.20 on Friday. The stock’s market cap is $831.71 million. The firm has a 50-day moving average price of $27.62 and a 200-day moving average price of $27.49. NN, Inc. has a 12 month low of $13.43 and a 12 month high of $31.65.
NN (NASDAQ:NNBR) last released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. The business had revenue of $225.88 million during the quarter, compared to analyst estimates of $221.00 million. NN had a positive return on equity of 14.58% and a negative net margin of 0.77%. During the same quarter last year, the business posted $0.46 EPS. The company’s revenue was up 5.4% on a year-over-year basis. Equities analysts forecast that NN, Inc. will post $1.60 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 0.93%. NN’s dividend payout ratio is presently -116.67%.
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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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