Swiss National Bank increased its stake in shares of NN Inc. (NASDAQ:NNBR) by 4.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,280 shares of the company’s stock after buying an additional 1,800 shares during the period. Swiss National Bank owned about 0.16% of NN worth $605,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC increased its position in shares of NN by 36.0% in the first quarter. Nuveen Asset Management LLC now owns 490,774 shares of the company’s stock valued at $6,713,000 after buying an additional 129,922 shares during the period. Wellington Management Group LLP increased its position in shares of NN by 21.0% in the first quarter. Wellington Management Group LLP now owns 1,557,773 shares of the company’s stock valued at $21,310,000 after buying an additional 270,391 shares during the period. Bank of New York Mellon Corp increased its position in shares of NN by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 145,823 shares of the company’s stock valued at $2,040,000 after buying an additional 625 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of NN during the first quarter valued at approximately $1,008,000. Finally, Prudential Financial Inc. increased its position in shares of NN by 464.6% in the first quarter. Prudential Financial Inc. now owns 62,585 shares of the company’s stock valued at $856,000 after buying an additional 51,500 shares during the period. 98.44% of the stock is currently owned by hedge funds and other institutional investors.
NN Inc. (NASDAQ:NNBR) traded down 2.86% during trading on Thursday, hitting $18.67. The stock had a trading volume of 61,794 shares. NN Inc. has a one year low of $10.34 and a one year high of $20.39. The company’s market cap is $506.42 million. The firm has a 50 day moving average of $18.28 and a 200-day moving average of $16.36.
NN (NASDAQ:NNBR) last released its earnings results on Wednesday, August 3rd. The company reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. The business had revenue of $214.30 million for the quarter, compared to the consensus estimate of $223.14 million. NN had a positive return on equity of 10.72% and a negative net margin of 2.85%. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 earnings per share. Equities analysts anticipate that NN Inc. will post $1.61 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were given a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.28 annualized dividend and a dividend yield of 1.46%. NN’s dividend payout ratio (DPR) is presently -34.15%.
Separately, Zacks Investment Research raised NN from a “strong sell” rating to a “hold” rating and set a $23.00 price objective on the stock in a research report on Wednesday, October 5th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $18.00.
NN Company Profile
NN, Inc is a diversified industrial company. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group. Within its Precision Bearing Components Group, the Company manufactures and supplies high precision bearing components, consisting of balls, cylindrical rollers, tapered rollers, spherical rollers and metal retainers for bearing and constant velocity-joint manufacturers.
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