TIAA CREF Investment Management LLC Lowers Stake in NN, Inc. (NASDAQ:NNBR)
TIAA CREF Investment Management LLC reduced its stake in NN, Inc. (NASDAQ:NNBR) by 5.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,899 shares of the industrial products company’s stock after selling 3,805 shares during the period. TIAA CREF Investment Management LLC’s holdings in NN were worth $1,686,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of NNBR. State Street Corp increased its position in NN by 5.2% in the fourth quarter. State Street Corp now owns 534,187 shares of the industrial products company’s stock valued at $10,174,000 after buying an additional 26,261 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position 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 worth $356,000 after buying an additional 1,127 shares during the period. Norges Bank purchased a new position in shares of NN during the fourth quarter worth approximately $5,388,000. Teachers Advisors LLC increased its position in shares of 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 during the period. Finally, Highbridge Capital Management LLC purchased a new position in shares of NN during the fourth quarter worth approximately $220,000. 96.40% of the stock is currently owned by hedge funds and other institutional investors.
NN, Inc. (NASDAQ NNBR) opened at 25.80 on Thursday. The firm’s 50-day moving average is $27.93 and its 200-day moving average is $25.53. NN, Inc. has a 52 week low of $13.43 and a 52 week high of $31.65. The stock’s market capitalization is $708.60 million.
NN (NASDAQ:NNBR) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.03. The business had revenue of $225.88 million for the quarter, compared to analyst estimates of $221 million. NN had a negative net margin of 0.77% and a positive return on equity of 14.45%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.46 EPS. On average, equities research analysts predict that NN, Inc. will post $1.62 EPS for the current fiscal year.
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A number of equities analysts have commented on the stock. William Blair reaffirmed a “market perform” rating on shares of NN in a research note on Tuesday, July 11th. ValuEngine raised shares of NN from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded shares of NN from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. TheStreet raised shares of NN from a “c+” rating to a “b” rating in a research note on Monday, June 5th. Finally, BidaskClub downgraded shares of NN from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price 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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