NN, Inc. (NNBR) Shares Sold by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. lessened its holdings in shares of NN, Inc. (NASDAQ:NNBR) by 2.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 139,629 shares of the industrial products company’s stock after selling 2,810 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.51% of NN worth $4,050,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. D.A. Davidson & CO. acquired a new stake in NN during the 2nd quarter worth approximately $139,000. Tudor Investment Corp ET AL acquired a new stake in NN during the 2nd quarter worth approximately $298,000. Virtu KCG Holdings LLC acquired a new stake in NN during the 2nd quarter worth approximately $323,000. Voya Investment Management LLC increased its position in NN by 20.0% during the 2nd quarter. Voya Investment Management LLC now owns 12,222 shares of the industrial products company’s stock worth $335,000 after purchasing an additional 2,037 shares in the last quarter. Finally, American Century Companies Inc. acquired a new stake in NN during the 3rd quarter worth approximately $343,000. 93.59% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the company. Zacks Investment Research upgraded NN from a “sell” rating to a “hold” rating in a report on Friday. BidaskClub upgraded NN from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. ValuEngine cut NN from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Finally, KeyCorp restated a “buy” rating and issued a $36.00 price target on shares of NN in a report on Sunday, September 17th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $34.00.
NN, Inc. (NNBR) opened at $28.00 on Friday. The firm has a market capitalization of $758.27, a P/E ratio of -30.77 and a beta of 0.64. NN, Inc. has a fifty-two week low of $17.70 and a fifty-two week high of $32.90. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.16 and a quick ratio of 2.72.
NN (NASDAQ:NNBR) last released its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.29 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.29. The firm had revenue of $148.16 million during the quarter, compared to analysts’ expectations of $150.50 million. NN had a negative return on equity of 3.12% and a negative net margin of 2.79%. NN’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 EPS. equities analysts forecast that NN, Inc. will post 1.58 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Thursday, November 30th. NN’s dividend payout ratio (DPR) is currently -30.77%.
In other NN news, Director David Floyd bought 1,865 shares of NN stock in a transaction dated Friday, December 1st. The stock was bought at an average cost of $26.98 per share, for a total transaction of $50,317.70. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Thomas C. Jr. Burwell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $32.00, for a total value of $64,000.00. Following the transaction, the insider now owns 35,381 shares of the company’s stock, valued at $1,132,192. The disclosure for this sale can be found here. Corporate insiders own 3.32% of the company’s stock.
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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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