RE Advisers Corp maintained its position in NN, Inc. (NASDAQ:NNBR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,348,200 shares of the industrial products company’s stock at the end of the second quarter. RE Advisers Corp owned 4.91% of NN worth $37,008,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. US Bancorp DE boosted its stake 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 period. LSV Asset Management boosted its stake in NN by 124.8% in the first quarter. LSV Asset Management now owns 113,102 shares of the industrial products company’s stock valued at $2,850,000 after buying an additional 62,800 shares during the period. Wells Fargo & Company MN boosted its stake in NN by 0.7% in the first quarter. Wells Fargo & Company MN now owns 25,214 shares of the industrial products company’s stock valued at $635,000 after buying an additional 176 shares during the period. First Manhattan Co. boosted its stake in NN by 0.5% in the first quarter. First Manhattan Co. now owns 209,600 shares of the industrial products company’s stock valued at $3,825,000 after buying an additional 950 shares during the period. Finally, Skylands Capital LLC boosted its stake in NN by 4.5% in the first quarter. Skylands Capital LLC now owns 407,436 shares of the industrial products company’s stock valued at $10,267,000 after buying an additional 17,536 shares during the period. Institutional investors and hedge funds own 92.15% of the company’s stock.
Shares of NN, Inc. (NASDAQ:NNBR) traded down 1.55% during midday trading on Friday, reaching $25.45. 166,023 shares of the company were exchanged. The stock’s 50-day moving average price is $27.59 and its 200-day moving average price is $25.81. NN, Inc. has a 52-week low of $13.43 and a 52-week high of $31.65. The company’s market capitalization is $700.89 million.
NN (NASDAQ:NNBR) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. The business had revenue of $225.88 million during the quarter, compared to analyst estimates of $221 million. NN had a negative net margin of 0.77% and a positive return on equity of 14.58%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the business earned $0.46 EPS. Analysts anticipate that NN, Inc. will post $1.62 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.10%. The ex-dividend date is Wednesday, August 30th. NN’s dividend payout ratio is currently -116.67%.
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Several equities research analysts have recently issued reports on NNBR shares. Zacks Investment Research cut shares of NN from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 9th. ValuEngine raised shares of NN from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. 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. SunTrust Banks, Inc. started coverage on shares of NN in a research report on Thursday, June 15th. They set a “buy” rating and a $37.00 price objective for the company. They noted that the move was a valuation call. Finally, William Blair reaffirmed a “market perform” rating on shares of NN in a research report on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $30.25.
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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