GSA Capital Partners LLP increased its position in shares of NN, Inc. (NASDAQ:NNBR) by 415.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,172 shares of the industrial products company’s stock after purchasing an additional 53,339 shares during the period. GSA Capital Partners LLP owned 0.24% of NN worth $1,816,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Nuveen Asset Management LLC raised its position in shares of NN by 31.2% during the 1st quarter. Nuveen Asset Management LLC now owns 1,176,352 shares of the industrial products company’s stock valued at $29,644,000 after purchasing an additional 279,795 shares during the period. Algert Global LLC bought a new stake in shares of NN during the 2nd quarter valued at $2,173,000. Envestnet Asset Management Inc. raised its position in shares of NN by 10.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock valued at $143,000 after purchasing an additional 530 shares during the period. US Bancorp DE raised its position in shares of NN by 4.5% during the 1st quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock valued at $265,000 after purchasing an additional 457 shares during the period. Finally, Teachers Advisors LLC raised its position in shares of NN by 13.5% during the 4th quarter. Teachers Advisors LLC now owns 47,211 shares of the industrial products company’s stock valued at $899,000 after purchasing an additional 5,604 shares during the period. Hedge funds and other institutional investors own 91.27% of the company’s stock.
Shares of NN, Inc. (NASDAQ NNBR) opened at 28.25 on Friday. NN, Inc. has a one year low of $13.43 and a one year high of $31.65. The company’s market capitalization is $778.01 million. The firm has a 50-day moving average of $26.01 and a 200-day moving average of $26.78.
NN (NASDAQ:NNBR) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. The company had revenue of $225.88 million during the quarter, compared to analysts’ expectations of $221.00 million. NN had a negative net margin of 0.77% and a positive return on equity of 14.58%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 earnings per share. Analysts forecast that NN, Inc. will post $1.62 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Wednesday, August 30th. NN’s dividend payout ratio is presently -116.67%.
In other NN news, insider Thomas C. Jr. Burwell sold 6,000 shares of the company’s 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 completion of the transaction, the insider now directly owns 37,881 shares in the company, valued at $1,037,181.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven T. Warshaw sold 2,000 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $26.82, for a total transaction of $53,640.00. Following the transaction, the director now owns 58,732 shares of the company’s stock, valued at $1,575,192.24. The disclosure for this sale can be found here. Insiders have sold 16,000 shares of company stock valued at $436,660 over the last 90 days. 2.80% of the stock is currently owned by company insiders.
NNBR has been the topic of several recent analyst reports. SunTrust Banks, Inc. initiated coverage on shares of NN in a research report on Thursday, June 15th. They set a “buy” rating and a $37.00 price objective on the stock. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of NN from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. William Blair restated a “market perform” rating on shares of NN in a research report on Thursday, August 31st. BidaskClub downgraded shares of NN from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, ValuEngine upgraded shares of NN from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Two equities 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. The company presently has a consensus rating of “Hold” and a consensus price target of $31.40.
NN Company Profile
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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