5,068 Shares in NN, Inc. (NNBR) Purchased by D.A. Davidson & CO.
D.A. Davidson & CO. bought a new stake in NN, Inc. (NASDAQ:NNBR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,068 shares of the industrial products company’s stock, valued at approximately $139,000.
A number of other institutional investors have also added to or reduced their stakes in the business. Citigroup Inc. lifted its holdings in NN by 144.2% in the second quarter. Citigroup Inc. now owns 19,157 shares of the industrial products company’s stock valued at $526,000 after acquiring an additional 11,313 shares during the period. GSA Capital Partners LLP lifted its holdings in NN by 415.6% in the second quarter. GSA Capital Partners LLP now owns 66,172 shares of the industrial products company’s stock valued at $1,816,000 after acquiring an additional 53,339 shares during the period. New York State Common Retirement Fund lifted its holdings in NN by 12.7% in the second quarter. New York State Common Retirement Fund now owns 29,200 shares of the industrial products company’s stock valued at $802,000 after acquiring an additional 3,299 shares during the period. Ameriprise Financial Inc. acquired a new stake in NN in the second quarter valued at $3,548,000. Finally, TIAA CREF Investment Management LLC lifted its holdings in NN by 12.0% in the second quarter. TIAA CREF Investment Management LLC now owns 74,938 shares of the industrial products company’s stock valued at $2,057,000 after acquiring an additional 8,039 shares during the period. 91.27% of the stock is owned by institutional investors.
NN, Inc. (NASDAQ NNBR) opened at 29.60 on Tuesday. The stock’s 50 day moving average price is $27.13 and its 200 day moving average price is $27.37. NN, Inc. has a 1-year low of $13.43 and a 1-year high of $31.65. The firm’s market cap is $815.18 million.
NN (NASDAQ:NNBR) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. NN had a positive return on equity of 14.58% and a negative net margin of 0.77%. The company had revenue of $225.88 million during the quarter, compared to the consensus estimate of $221.00 million. During the same quarter last year, the company earned $0.46 EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts predict that NN, Inc. will post $1.60 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.95%. NN’s dividend payout ratio is currently -116.67%.
In other NN news, Director Steven T. Warshaw sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $27.78, for a total value of $83,340.00. Following the completion of the sale, the director now owns 57,732 shares in the company, valued at approximately $1,603,794.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven T. Warshaw sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was 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 approximately $1,575,192.24. The disclosure for this sale can be found here. Insiders sold a total of 16,000 shares of company stock valued at $436,660 in the last quarter. Corporate insiders own 3.32% of the company’s stock.
A number of research firms have commented on NNBR. KeyCorp reissued a “buy” rating and issued a $36.00 target price on shares of NN in a report on Sunday, September 17th. William Blair reaffirmed a “market perform” rating on shares of NN in a research note on Thursday, August 31st. Zacks Investment Research downgraded NN from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Stifel Nicolaus reaffirmed a “hold” rating and set a $29.00 price target on shares of NN in a research note on Friday, August 4th. Finally, BidaskClub downgraded NN from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target 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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