RE Advisers Corp maintained its position in NN, Inc. (NASDAQ:NNBR) during the second quarter, Holdings Channel reports. The fund owned 1,348,200 shares of the industrial products company’s stock at the end of the second quarter. RE Advisers Corp’s holdings in NN were worth $37,008,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in NNBR. Nuveen Asset Management LLC boosted its position in NN by 31.2% in the first quarter. Nuveen Asset Management LLC now owns 1,176,352 shares of the industrial products company’s stock valued at $29,644,000 after buying an additional 279,795 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in NN by 10.3% in the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock valued at $143,000 after buying an additional 530 shares during the last quarter. US Bancorp DE boosted its position in NN by 4.5% in the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock valued at $265,000 after buying an additional 457 shares during the last quarter. Teachers Advisors LLC boosted its position in 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 during the last quarter. Finally, Poplar Forest Capital LLC bought a new position in NN during the first quarter valued at approximately $880,000. Hedge funds and other institutional investors own 96.04% of the company’s stock.
Shares of NN, Inc. (NASDAQ:NNBR) traded down 1.39% during trading on Monday, hitting $28.40. 13,228 shares of the stock were exchanged. The company has a market cap of $780.01 million, a P/E ratio of 46.56 and a beta of 0.63. NN, Inc. has a 1-year low of $13.43 and a 1-year high of $31.65. The firm’s 50-day moving average is $28.49 and its 200 day moving average is $24.73.
NN (NASDAQ:NNBR) last posted its earnings results on Thursday, May 4th. The industrial products company reported $0.47 earnings per share for the quarter, topping 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 company had revenue of $226.31 million during the quarter, compared to the consensus estimate of $215.86 million. Equities analysts forecast that NN, Inc. will post $1.61 earnings per share for the current fiscal year.
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NNBR has been the subject of several research analyst reports. Zacks Investment Research cut shares of NN from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 5th. ValuEngine upgraded shares of NN from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. SunTrust Banks, Inc. initiated coverage on shares of NN in a research note on Thursday, June 15th. They issued a “buy” rating and a $37.00 price objective for the company. They noted that the move was a valuation call. William Blair restated a “market perform” rating on shares of NN in a research note on Tuesday, July 11th. Finally, TheStreet upgraded shares of NN from a “c+” rating to a “b” rating in a research note on Monday, June 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. NN presently has a consensus rating of “Hold” 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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