TIAA CREF Investment Management LLC raised its holdings in NN, Inc. (NASDAQ:NNBR) by 12.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,938 shares of the industrial products company’s stock after purchasing an additional 8,039 shares during the quarter. TIAA CREF Investment Management LLC owned 0.27% of NN worth $2,057,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wells Fargo & Company MN boosted 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 valued at $635,000 after purchasing an additional 176 shares in the last quarter. Envestnet Asset Management Inc. boosted 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 valued at $143,000 after purchasing an additional 530 shares in the last quarter. Teachers Advisors LLC boosted its holdings in NN by 1.5% in the 2nd quarter. Teachers Advisors LLC now owns 49,164 shares of the industrial products company’s stock valued at $1,350,000 after purchasing an additional 706 shares in the last quarter. American International Group Inc. boosted its holdings in NN by 7.1% in the 1st quarter. American International Group Inc. now owns 16,153 shares of the industrial products company’s stock valued at $407,000 after purchasing an additional 1,064 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted 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 valued at $1,563,000 after purchasing an additional 1,679 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.
Shares of NN, Inc. (NASDAQ:NNBR) opened at 29.55 on Wednesday. The stock’s 50 day moving average is $29.36 and its 200-day moving average is $28.01. The firm’s market capitalization is $813.81 million. NN, Inc. has a 52-week low of $13.43 and a 52-week high of $32.90.
NN (NASDAQ:NNBR) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. The business had revenue of $225.88 million during the quarter, compared to analysts’ expectations of $221.00 million. NN had a negative net margin of 0.77% and a positive return on equity of 14.58%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm posted $0.46 earnings per share. On average, equities analysts forecast that NN, Inc. will post $1.60 earnings per share 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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NNBR has been the topic of a number of analyst reports. Zacks Investment Research lowered NN from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 9th. William Blair reaffirmed a “market perform” rating on shares of NN in a report on Thursday, August 17th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $29.00 price objective on shares of NN in a report on Friday, August 4th. KeyCorp reaffirmed a “buy” rating and issued a $36.00 price objective on shares of NN in a report on Friday, October 20th. Finally, BidaskClub lowered NN from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Two 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 stock has an average rating of “Hold” and a consensus target price 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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