Primecap Management Co. CA Sells 2,400 Shares of NN, Inc. (NASDAQ:NNBR)

Primecap Management Co. CA lessened its holdings in NN, Inc. (NASDAQ:NNBR) by 0.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,294,000 shares of the industrial products company’s stock after selling 2,400 shares during the quarter. Primecap Management Co. CA owned approximately 0.15% of NN worth $47,142,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. bought a new position in NN in the first quarter valued at approximately $27,000. Legal & General Group Plc grew its holdings in NN by 69.0% during the 4th quarter. Legal & General Group Plc now owns 7,303 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 2,981 shares during the period. Quantamental Technologies LLC acquired a new stake in NN during the 1st quarter worth $55,000. BNP Paribas Arbitrage SA raised its position in shares of NN by 343.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,763 shares of the industrial products company’s stock valued at $66,000 after acquiring an additional 6,785 shares during the last quarter. Finally, Citigroup Inc. raised its position in shares of NN by 35.0% during the 4th quarter. Citigroup Inc. now owns 9,947 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 2,577 shares during the last quarter. Institutional investors own 99.35% of the company’s stock.

Shares of NASDAQ:NNBR traded up $0.17 during midday trading on Friday, hitting $7.39. The company had a trading volume of 337,582 shares, compared to its average volume of 271,827. NN, Inc. has a 12 month low of $5.55 and a 12 month high of $22.15. The company has a quick ratio of 1.12, a current ratio of 1.90 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $305.89 million, a P/E ratio of 6.32 and a beta of 1.41.

NN (NASDAQ:NNBR) last posted its quarterly earnings results on Thursday, May 9th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.04. NN had a positive return on equity of 7.79% and a negative net margin of 34.01%. The business had revenue of $213.26 million for the quarter, compared to analyst estimates of $209.86 million. As a group, equities research analysts expect that NN, Inc. will post 1.16 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 21st will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $0.28 annualized dividend and a dividend yield of 3.79%. NN’s dividend payout ratio is currently 23.93%.

Several research analysts have recently issued reports on the company. Zacks Investment Research upgraded NN from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a research report on Wednesday, May 22nd. BidaskClub lowered NN from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. Finally, Robert W. Baird reduced their price target on NN from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. NN has an average rating of “Hold” and an average target price of $17.38.

In related news, Director David Floyd purchased 9,000 shares of NN stock in a transaction dated Tuesday, May 28th. The shares were acquired at an average cost of $8.05 per share, for a total transaction of $72,450.00. Following the transaction, the director now directly owns 23,660 shares of the company’s stock, valued at $190,463. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.48% of the stock is owned by company insiders.

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NN Company Profile

NN, Inc, a diversified industrial company, designs and manufactures high-precision components and assemblies in the United States, Europe, Asia, Canada, Mexico, South America, and internationally. It operates through Autocam Precision Components Group and Precision Engineered Products Group segments.

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Institutional Ownership by Quarter for NN (NASDAQ:NNBR)

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