NN, Inc. (NNBR) Position Raised by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. raised its stake in shares of NN, Inc. (NASDAQ:NNBR) by 23.1% during the first quarter, Holdings Channel reports. The firm owned 133,392 shares of the industrial products company’s stock after buying an additional 25,011 shares during the period. Schwab Charles Investment Management Inc.’s holdings in NN were worth $3,362,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in NNBR. Norges Bank acquired a new stake in NN during the fourth quarter valued at approximately $5,388,000. Teachers Advisors LLC increased its position in NN by 13.5% in the fourth quarter. Teachers Advisors LLC now owns 47,211 shares of the industrial products company’s stock worth $899,000 after buying an additional 5,604 shares in the last quarter. Highbridge Capital Management LLC purchased a new position in NN during the fourth quarter worth $220,000. Bank of Montreal Can purchased a new position in NN during the first quarter worth $162,000. Finally, First Manhattan Co. increased its position in NN by 0.5% in the first quarter. First Manhattan Co. now owns 209,600 shares of the industrial products company’s stock worth $3,825,000 after buying an additional 950 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors.
NN, Inc. (NNBR) traded down 2.90% on Friday, reaching $25.10. The company’s stock had a trading volume of 49,200 shares. The firm’s 50 day moving average price is $27.65 and its 200-day moving average price is $25.76. The company’s market capitalization is $691.25 million. NN, Inc. has a 1-year low of $13.43 and a 1-year high of $31.65.
NN (NASDAQ:NNBR) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.03. The business had revenue of $225.88 million for the quarter, compared to the consensus estimate of $221 million. NN had a positive return on equity of 14.58% and a negative net margin of 0.77%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 EPS. Equities analysts forecast that NN, Inc. will post $1.62 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.28 annualized dividend and a yield of 1.08%. NN’s payout ratio is presently -116.67%.
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A number of research firms have weighed in on NNBR. Zacks Investment Research downgraded NN from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 9th. BidaskClub downgraded NN from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. TheStreet raised NN from a “c+” rating to a “b” rating in a report on Monday, June 5th. William Blair reissued a “market perform” rating on shares of NN in a report on Thursday. Finally, SunTrust Banks, Inc. began coverage on NN in a report on Thursday, June 15th. They issued a “buy” rating and a $37.00 target price on the stock. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $30.25.
NN Company Profile
NN, Inc is a diversified industrial company and a manufacturer of high precision bearing components, industrial plastic products and precision metal components to a range of markets on a global basis. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group.
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