Swiss National Bank continued to hold its stake in shares of NN, Inc. (NASDAQ:NNBR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,280 shares of the industrial products company’s stock at the end of the 2nd quarter. Swiss National Bank owned approximately 0.16% of NN worth $1,188,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wells Fargo & Company MN raised its holdings in NN by 0.7% in the 1st quarter. Wells Fargo & Company MN now owns 25,214 shares of the industrial products company’s stock worth $635,000 after purchasing an additional 176 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in NN by 7.6% in the 1st quarter. Bank of New York Mellon Corp now owns 187,462 shares of the industrial products company’s stock worth $4,724,000 after purchasing an additional 13,276 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in NN by 10.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock worth $143,000 after purchasing an additional 530 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in NN by 2.8% in the 1st quarter. JPMorgan Chase & Co. now owns 62,024 shares of the industrial products company’s stock worth $1,563,000 after purchasing an additional 1,679 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in NN by 39.6% in the 1st quarter. Prudential Financial Inc. now owns 28,905 shares of the industrial products company’s stock worth $728,000 after purchasing an additional 8,200 shares in the last quarter. 91.27% of the stock is owned by institutional investors and hedge funds.
In related news, insider Thomas C. Jr. Burwell sold 6,000 shares of NN stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $27.38, for a total value of $164,280.00. Following the completion of the sale, the insider now directly owns 37,881 shares in the company, valued at $1,037,181.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, 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 16,000 shares of company stock valued at $436,660 over the last 90 days. 2.80% of the stock is currently owned by corporate insiders.
NN, Inc. (NNBR) opened at 30.20 on Friday. The company’s market capitalization is $831.71 million. NN, Inc. has a one year low of $13.43 and a one year high of $31.65. The firm has a 50-day moving average of $27.69 and a 200 day moving average of $27.52.
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 consensus estimate of $0.48 by $0.03. The firm had revenue of $225.88 million during the quarter, compared to the consensus estimate of $221.00 million. NN had a positive return on equity of 14.58% and a negative net margin of 0.77%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 earnings per share. Equities research analysts predict that NN, Inc. will post $1.60 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a $0.07 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 0.93%. NN’s payout ratio is currently -116.67%.
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NNBR has been the subject of several research reports. KeyCorp restated a “buy” rating and issued a $36.00 price objective on shares of NN in a report on Sunday, September 17th. Stifel Nicolaus restated a “hold” rating and issued a $29.00 price objective on shares of NN in a report on Friday, August 4th. Zacks Investment Research lowered shares of NN from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 5th. William Blair restated a “market perform” rating on shares of NN in a report on Thursday, August 31st. Finally, BidaskClub lowered shares of NN from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $33.00.
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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