Ameriprise Financial Inc. Has $3.47 Million Stake in NN, Inc. (NNBR)

Ameriprise Financial Inc. decreased its position in NN, Inc. (NASDAQ:NNBR) by 7.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 119,502 shares of the industrial products company’s stock after selling 9,893 shares during the quarter. Ameriprise Financial Inc. owned 0.43% of NN worth $3,466,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. D.A. Davidson & CO. acquired a new position in NN during the 2nd quarter worth about $139,000. Tudor Investment Corp ET AL acquired a new position in NN during the 2nd quarter worth about $298,000. Virtu KCG Holdings LLC acquired a new position in NN during the 2nd quarter worth about $323,000. American Century Companies Inc. acquired a new position in NN during the 3rd quarter worth about $343,000. Finally, Voya Investment Management LLC lifted its position in 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. Institutional investors and hedge funds own 93.59% of the company’s stock.

NN, Inc. (NNBR) opened at $28.35 on Wednesday. The company has a current ratio of 3.16, a quick ratio of 2.72 and a debt-to-equity ratio of 1.80. NN, Inc. has a 52-week low of $17.70 and a 52-week high of $32.90. The stock has a market cap of $761.03, a PE ratio of -55.59 and a beta of 0.65.

NN (NASDAQ:NNBR) last released its earnings results on Wednesday, November 1st. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.29. NN had a negative net margin of 1.76% and a positive return on equity of 12.72%. The company had revenue of $148.16 million for the quarter, compared to the consensus estimate of $150.50 million. During the same period in the prior year, the company posted $0.38 EPS. The company’s revenue was up 1.0% compared to the same quarter last year. equities research analysts anticipate that NN, Inc. will post 1.58 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.28 dividend on an annualized basis and a yield of 0.99%. NN’s payout ratio is presently -54.90%.

In other NN news, Director David Floyd bought 1,865 shares of the business’s stock in a transaction on Friday, December 1st. The shares were bought at an average cost of $26.98 per share, for a total transaction of $50,317.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas C. Jr. Burwell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $32.00, for a total transaction of $64,000.00. Following the transaction, the insider now owns 35,381 shares in the company, valued at $1,132,192. The disclosure for this sale can be found here. Corporate insiders own 3.32% of the company’s stock.

Several brokerages recently issued reports on NNBR. Zacks Investment Research upgraded shares of NN from a “sell” rating to a “hold” rating in a research report on Thursday, November 30th. BidaskClub upgraded shares of NN from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. ValuEngine downgraded shares of NN from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Finally, KeyCorp reiterated a “buy” rating and set a $36.00 price target on shares of NN in a research report on Sunday, September 17th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $34.00.

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NN 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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Institutional Ownership by Quarter for NN (NASDAQ:NNBR)

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