USA Financial Portformulas Corp purchased a new stake in shares of NN, Inc. (NASDAQ:NNBR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 43,262 shares of the industrial products company’s stock, valued at approximately $1,188,000. USA Financial Portformulas Corp owned about 0.16% of NN at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. D.A. Davidson & CO. bought a new stake in shares of NN during the second quarter valued at approximately $139,000. Envestnet Asset Management Inc. raised its holdings in shares of NN by 10.3% during the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock valued at $143,000 after buying an additional 530 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of NN during the second quarter valued at approximately $298,000. Virtu KCG Holdings LLC bought a new stake in shares of NN during the second quarter valued at approximately $323,000. Finally, Voya Investment Management LLC raised its holdings in shares of NN by 20.0% during the second quarter. Voya Investment Management LLC now owns 12,222 shares of the industrial products company’s stock valued at $335,000 after buying an additional 2,037 shares during the last quarter. 91.27% of the stock is currently owned by institutional investors.
NNBR has been the topic of a number of recent analyst reports. Zacks Investment Research cut NN from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 5th. Stifel Nicolaus reissued a “hold” rating and set a $29.00 target price on shares of NN in a report on Friday, August 4th. William Blair reissued a “market perform” rating on shares of NN in a report on Thursday, August 31st. BidaskClub cut NN from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Finally, KeyCorp reissued a “buy” rating and set a $36.00 target price on shares of NN in a report on Sunday, September 17th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $33.00.
Shares of NN, Inc. (NASDAQ NNBR) traded down 0.99% during midday trading on Tuesday, reaching $30.00. The company had a trading volume of 11,466 shares. The firm’s 50 day moving average price is $27.69 and its 200-day moving average price is $27.54. NN, Inc. has a 12 month low of $13.43 and a 12 month high of $31.65. The company’s market capitalization is $826.20 million.
NN (NASDAQ:NNBR) last announced its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ 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 for the quarter, compared to analyst estimates of $221.00 million. During the same period in the prior year, the business earned $0.46 earnings per share. NN’s quarterly revenue was up 5.4% on a year-over-year basis. Analysts anticipate that NN, Inc. will post $1.60 earnings per share for the current fiscal year.
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In other news, Director Steven T. Warshaw sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $26.82, for a total transaction of $53,640.00. Following the transaction, the director now directly owns 58,732 shares in the company, valued at $1,575,192.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas C. Jr. Burwell sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $27.38, for a total transaction of $164,280.00. Following the transaction, the insider now owns 37,881 shares in the company, valued at $1,037,181.78. The disclosure for this sale can be found here. Insiders have sold 16,000 shares of company stock worth $436,660 over the last quarter. 3.32% of the stock is owned by company insiders.
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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