Earnest Partners LLC bought a new position in NN, Inc. (NASDAQ:NNBR) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 4,900 shares of the industrial products company’s stock, valued at approximately $135,000.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its stake in NN by 98.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 33,338 shares of the industrial products company’s stock worth $920,000 after purchasing an additional 16,545 shares in the last quarter. Driehaus Capital Management LLC raised its position in NN by 2.1% during the 4th quarter. Driehaus Capital Management LLC now owns 152,339 shares of the industrial products company’s stock worth $4,205,000 after buying an additional 3,132 shares during the last quarter. Geode Capital Management LLC raised its position in NN by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 238,818 shares of the industrial products company’s stock worth $6,591,000 after buying an additional 3,622 shares during the last quarter. Yorktown Management & Research Co Inc raised its position in NN by 22.4% during the 4th quarter. Yorktown Management & Research Co Inc now owns 38,800 shares of the industrial products company’s stock worth $1,071,000 after buying an additional 7,100 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its position in NN by 2.8% during the 4th quarter. Allianz Asset Management GmbH now owns 170,343 shares of the industrial products company’s stock worth $4,701,000 after buying an additional 4,600 shares during the last quarter. Institutional investors own 95.81% of the company’s stock.
NNBR traded down $0.55 during trading on Friday, reaching $22.50. 263,815 shares of the company’s stock were exchanged, compared to its average volume of 174,753. The company has a current ratio of 3.16, a quick ratio of 2.72 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $635.72, a PE ratio of 14.52 and a beta of 0.80. NN, Inc. has a 1 year low of $21.40 and a 1 year high of $32.90.
NN (NASDAQ:NNBR) last posted its earnings results on Thursday, March 8th. The industrial products company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.01). The firm had revenue of $156.14 million for the quarter, compared to analysts’ expectations of $154.67 million. NN had a net margin of 4.87% and a return on equity of 11.94%. NN’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $0.21 earnings per share. analysts predict that NN, Inc. will post 1.53 EPS for the current fiscal year.
NNBR has been the subject of a number of recent research reports. ValuEngine raised shares of NN from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research raised shares of NN from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Wednesday, February 21st. BidaskClub raised shares of NN from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Finally, Stifel Nicolaus reduced their price target on shares of NN from $29.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, March 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $32.25.
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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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