Victory Capital Management Inc. decreased its position in shares of NN, Inc. (NASDAQ:NNBR) by 5.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,828 shares of the industrial products company’s stock after selling 2,522 shares during the quarter. Victory Capital Management Inc. owned approximately 0.15% of NN worth $1,213,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of NNBR. D.A. Davidson & CO. bought a new position in shares of NN during the 2nd quarter worth $139,000. Tudor Investment Corp ET AL bought a new position in shares of NN during the 2nd quarter worth $298,000. Virtu KCG Holdings LLC bought a new position in shares of NN during the 2nd quarter worth $323,000. Voya Investment Management LLC grew its position in shares of 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 buying an additional 2,037 shares in the last quarter. Finally, UBS Group AG grew its position in shares of NN by 255.9% during the 1st 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. 89.88% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Steven T. Warshaw sold 5,000 shares of NN stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $27.08, for a total value of $135,400.00. Following the sale, the director now directly owns 58,732 shares of the company’s stock, valued at $1,590,462.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven T. Warshaw sold 2,000 shares of NN stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $26.82, for a total value of $53,640.00. Following the completion of the sale, 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 quarter, insiders have sold 18,000 shares of company stock valued at $500,660. 2.80% of the stock is owned by company insiders.
NN (NASDAQ:NNBR) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.29 earnings per share for the quarter, hitting the consensus estimate of $0.29. NN had a positive return on equity of 12.72% and a negative net margin of 1.76%. The business had revenue of $148.16 million during the quarter, compared to the consensus estimate of $150.50 million. During the same quarter last year, the company earned $0.38 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. sell-side analysts forecast that NN, Inc. will post 1.58 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.02%. The ex-dividend date is Thursday, November 30th. NN’s dividend payout ratio is currently -54.90%.
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A number of research firms have recently issued reports on NNBR. KeyCorp reissued a “buy” rating and set a $36.00 price target on shares of NN in a research report on Friday, October 20th. William Blair reaffirmed a “market perform” rating on shares of NN in a research report on Thursday, August 31st. Zacks Investment Research downgraded NN from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Stifel Nicolaus reaffirmed a “hold” rating and set a $29.00 price objective on shares of NN in a research report on Friday, August 4th. Finally, BidaskClub downgraded NN from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Two 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. NN presently has a consensus rating of “Hold” and a consensus price target of $33.00.
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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