Victory Capital Management Inc. Has $1.72 Million Position in NN, Inc. (NNBR)
Victory Capital Management Inc. lowered its stake in shares of NN, Inc. (NASDAQ:NNBR) by 26.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 68,176 shares of the industrial products company’s stock after selling 24,965 shares during the period. Victory Capital Management Inc. owned approximately 0.25% of NN worth $1,718,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in NNBR. First Manhattan Co. boosted its stake in shares of 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 in the last quarter. Skylands Capital LLC boosted its stake in shares of NN by 4.5% in the first quarter. Skylands Capital LLC now owns 407,436 shares of the industrial products company’s stock valued at $10,267,000 after buying an additional 17,536 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of NN during the first quarter valued at $162,000. Highbridge Capital Management LLC bought a new stake in shares of NN during the fourth quarter valued at $220,000. Finally, Teachers Advisors LLC boosted its stake 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 valued at $899,000 after buying an additional 5,604 shares in the last quarter. Hedge funds and other institutional investors own 95.86% of the company’s stock.
NN, Inc. (NASDAQ:NNBR) opened at 29.00 on Friday. NN, Inc. has a 52-week low of $12.77 and a 52-week high of $31.65. The company has a 50 day moving average of $28.65 and a 200 day moving average of $23.06. The company has a market capitalization of $796.49 million, a PE ratio of 47.54 and a beta of 0.80.
NN (NASDAQ:NNBR) last posted its quarterly earnings data on Thursday, May 4th. The industrial products company reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.05. NN had a return on equity of 14.04% and a net margin of 2.00%. The firm had revenue of $226.31 million for the quarter, compared to analysts’ expectations of $215.86 million. On average, equities research analysts forecast that NN, Inc. will post $1.84 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 16th. Stockholders of record on Friday, June 2nd were given a dividend of $0.07 per share. The ex-dividend date was Wednesday, May 31st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.97%. NN’s payout ratio is currently 45.90%.
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Several brokerages have recently weighed in on NNBR. ValuEngine upgraded NN from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. TheStreet upgraded NN from a “c+” rating to a “b” rating in a research report on Monday, June 5th. SunTrust Banks, Inc. began coverage on NN in a research report on Thursday. They set a “buy” rating and a $37.00 price target on the stock. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded NN from a “sell” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Tuesday, March 7th. Four equities research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average price target of $30.67.
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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