NN, Inc. (NNBR) Shares Bought by American International Group Inc.
American International Group Inc. boosted its stake in NN, Inc. (NASDAQ:NNBR) by 7.1% during the first quarter, Holdings Channel reports. The fund owned 16,153 shares of the industrial products company’s stock after buying an additional 1,064 shares during the period. American International Group Inc.’s holdings in NN were worth $407,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of NNBR. Envestnet Asset Management Inc. boosted its stake in shares of NN by 10.3% in the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock valued at $143,000 after buying an additional 530 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of NN during the first quarter valued at approximately $162,000. Highbridge Capital Management LLC purchased a new stake in shares of NN during the fourth quarter valued at approximately $220,000. US Bancorp DE boosted its stake in shares of NN by 4.5% in the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock valued at $265,000 after buying an additional 457 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of NN by 6.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,698 shares of the industrial products company’s stock valued at $356,000 after buying an additional 1,127 shares during the last quarter. Hedge funds and other institutional investors own 95.85% of the company’s stock.
Shares of NN, Inc. (NNBR) opened at 29.20 on Monday. The firm has a 50-day moving average price of $28.30 and a 200 day moving average price of $23.72. The stock has a market capitalization of $801.98 million, a PE ratio of 47.87 and a beta of 0.63. NN, Inc. has a one year low of $13.43 and a one year high of $31.65.
NN (NASDAQ:NNBR) last released its quarterly earnings results on Thursday, May 4th. The industrial products company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.05. The company had revenue of $226.31 million during the quarter, compared to the consensus estimate of $215.86 million. NN had a return on equity of 14.04% and a net margin of 2.00%. On average, equities analysts expect that NN, Inc. will post $1.61 EPS for the current fiscal year.
Several analysts recently commented on the company. TheStreet upgraded NN from a “c+” rating to a “b” rating in a research report on Monday, June 5th. SunTrust Banks, Inc. assumed coverage on NN in a research report on Thursday, June 15th. They set a “buy” rating and a $37.00 price target for the company. They noted that the move was a valuation call. ValuEngine upgraded NN from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. William Blair reiterated a “market perform” rating on shares of NN in a research report on Tuesday, July 11th. Finally, Zacks Investment Research cut NN from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. NN presently has a consensus rating of “Hold” and a consensus price target of $30.67.
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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