NN, Inc. (NNBR) Shares Bought by Geode Capital Management LLC
Geode Capital Management LLC increased its stake in NN, Inc. (NASDAQ:NNBR) by 8.1% during the first quarter, Holdings Channel reports. The firm owned 217,710 shares of the industrial products company’s stock after buying an additional 16,404 shares during the period. Geode Capital Management LLC’s holdings in NN were worth $5,486,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in NN by 0.7% in the first quarter. Wells Fargo & Company MN now owns 25,214 shares of the industrial products company’s stock valued at $635,000 after buying an additional 176 shares during the period. US Bancorp DE increased its position in 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 period. Envestnet Asset Management Inc. increased its position in 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 period. 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 valued at $3,825,000 after buying an additional 950 shares during the period. Finally, American International Group Inc. increased its position in NN by 7.1% in the first quarter. American International Group Inc. now owns 16,153 shares of the industrial products company’s stock valued at $407,000 after buying an additional 1,064 shares during the period. 96.40% of the stock is currently owned by hedge funds and other institutional investors.
NN, Inc. (NASDAQ:NNBR) remained flat at $25.40 during midday trading on Friday. 72,474 shares of the company’s stock were exchanged. The company’s market capitalization is $697.61 million. NN, Inc. has a one year low of $13.43 and a one year high of $31.65. The company has a 50 day moving average of $27.87 and a 200 day moving average of $25.53.
NN (NASDAQ:NNBR) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. NN had a negative net margin of 0.77% and a positive return on equity of 14.45%. The firm had revenue of $225.88 million for the quarter, compared to analysts’ expectations of $221 million. During the same quarter last year, the company earned $0.46 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts anticipate that NN, Inc. will post $1.62 earnings per share for the current fiscal year.
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Several research firms have recently commented on NNBR. TheStreet raised shares of NN from a “c+” rating to a “b” rating in a report on Monday, June 5th. BidaskClub downgraded shares of NN from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of NN from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. William Blair reissued a “market perform” rating on shares of NN in a report on Tuesday, July 11th. Finally, SunTrust Banks, Inc. began coverage on shares of 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 investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average 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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