Voya Investment Management LLC Acquires 2,037 Shares of NN, Inc. (NNBR)
Voya Investment Management LLC increased its position in shares of NN, Inc. (NASDAQ:NNBR) by 20.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,222 shares of the industrial products company’s stock after buying an additional 2,037 shares during the period. Voya Investment Management LLC’s holdings in NN were worth $335,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. D.A. Davidson & CO. purchased a new stake in NN during the second quarter worth $139,000. Virtu KCG Holdings LLC purchased a new stake in NN during the second quarter worth $323,000. American International Group Inc. boosted its holdings in NN by 7.1% during the first quarter. American International Group Inc. now owns 16,153 shares of the industrial products company’s stock worth $407,000 after buying an additional 1,064 shares in the last quarter. UBS Group AG boosted its holdings in NN by 255.9% during the first quarter. UBS Group AG now owns 20,255 shares of the industrial products company’s stock worth $511,000 after buying an additional 14,564 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in NN by 144.2% during the second quarter. Citigroup Inc. now owns 19,157 shares of the industrial products company’s stock worth $526,000 after buying an additional 11,313 shares in the last quarter. 91.40% of the stock is currently owned by hedge funds and other institutional investors.
In other NN news, insider Thomas C. Jr. Burwell sold 6,000 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $27.38, for a total transaction of $164,280.00. Following the transaction, the insider now directly owns 37,881 shares of the company’s stock, valued at $1,037,181.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Steven T. Warshaw sold 2,000 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $26.82, for a total transaction of $53,640.00. Following the transaction, the director now directly owns 58,732 shares in the company, valued at $1,575,192.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,000 shares of company stock worth $500,660. Insiders own 3.32% of the company’s stock.
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A number of brokerages recently issued reports on NNBR. KeyCorp reissued a “buy” rating and set a $36.00 price target on shares of NN in a report on Friday, October 20th. William Blair reissued a “market perform” rating on shares of NN in a report on Thursday, August 31st. Zacks Investment Research downgraded shares of NN from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 9th. Stifel Nicolaus reissued a “hold” rating and set a $29.00 price target on shares of NN in a report on Friday, August 4th. Finally, BidaskClub downgraded shares of NN from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $33.00.
NN, Inc. (NNBR) opened at $26.25 on Monday. The company has a current ratio of 2.23, a quick ratio of 1.39 and a debt-to-equity ratio of 2.67. The stock has a market cap of $723.80, a price-to-earnings ratio of 16.20 and a beta of 0.68. NN, Inc. has a twelve month low of $16.00 and a twelve month high of $32.90.
NN (NASDAQ:NNBR) last posted its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.29. The business had revenue of $148.16 million for the quarter, compared to the consensus estimate of $150.50 million. NN had a negative net margin of 1.76% and a positive return on equity of 13.95%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the firm posted $0.38 earnings per share. equities research analysts predict that NN, Inc. will post 1.58 EPS for the current year.
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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