Private Management Group Inc. Reduces Position in NN, Inc. (NNBR)

Private Management Group Inc. decreased its holdings in shares of NN, Inc. (NASDAQ:NNBR) by 7.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 732,139 shares of the industrial products company’s stock after selling 57,826 shares during the quarter. Private Management Group Inc. owned approximately 2.66% of NN worth $21,232,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its stake in NN by 0.6% during the second quarter. The Manufacturers Life Insurance Company now owns 21,090 shares of the industrial products company’s stock worth $579,000 after acquiring an additional 126 shares during the period. Teachers Advisors LLC raised its stake in NN by 1.5% during the second quarter. Teachers Advisors LLC now owns 49,164 shares of the industrial products company’s stock worth $1,350,000 after acquiring an additional 706 shares during the period. AlphaOne Investment Services LLC raised its stake in NN by 1.1% during the second quarter. AlphaOne Investment Services LLC now owns 132,642 shares of the industrial products company’s stock worth $3,642,000 after acquiring an additional 1,400 shares during the period. JPMorgan Chase & Co. raised its stake in NN by 2.8% during the first quarter. JPMorgan Chase & Co. now owns 62,024 shares of the industrial products company’s stock worth $1,563,000 after acquiring an additional 1,679 shares during the period. Finally, California Public Employees Retirement System raised its stake in NN by 2.2% during the second quarter. California Public Employees Retirement System now owns 82,800 shares of the industrial products company’s stock worth $2,273,000 after acquiring an additional 1,800 shares during the period. Hedge funds and other institutional investors own 91.40% of the company’s stock.

Shares of NN, Inc. (NASDAQ NNBR) traded up $0.40 during trading hours on Wednesday, hitting $26.55. 129,000 shares of the company’s stock traded hands, compared to its average volume of 162,106. NN, Inc. has a 12 month low of $16.25 and a 12 month high of $32.90. The firm has a market capitalization of $721.04, a price-to-earnings ratio of 16.14 and a beta of 0.68. The company has a quick ratio of 1.39, a current ratio of 3.16 and a debt-to-equity ratio of 1.80.

NN (NASDAQ:NNBR) last announced its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.29 EPS for the quarter, meeting the consensus estimate of $0.29. NN had a negative net margin of 1.76% and a positive return on equity of 12.72%. The company had revenue of $148.16 million for the quarter, compared to analyst estimates of $150.50 million. During the same quarter last year, the business earned $0.38 earnings per share. NN’s revenue was up 1.0% compared to the same quarter last year. sell-side analysts anticipate that NN, Inc. will post 1.58 EPS for the current fiscal year.

In other news, insider Thomas C. Jr. Burwell sold 6,000 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $27.38, for a total value of $164,280.00. Following the completion of the transaction, the insider now directly owns 37,881 shares in the company, valued at $1,037,181.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven T. Warshaw sold 2,000 shares of the 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 completion of the transaction, the director now owns 58,732 shares of the company’s stock, valued at $1,575,192.24. The disclosure for this sale can be found here. Insiders sold 18,000 shares of company stock valued at $500,660 over the last quarter. Insiders own 3.32% of the company’s stock.

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Several equities research 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 note on Friday, October 20th. Stifel Nicolaus restated a “hold” rating and issued a $29.00 price target on shares of NN in a research note on Friday, August 4th. William Blair restated a “market perform” rating on shares of NN in a research note on Thursday, August 31st. BidaskClub lowered shares of NN from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Zacks Investment Research lowered shares of NN from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Two 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 stock. NN has a consensus rating of “Hold” and an average price target of $33.00.

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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Institutional Ownership by Quarter for NN (NASDAQ:NNBR)

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