US Bancorp DE raised its stake in NN, Inc. (NASDAQ:NNBR) by 4.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,522 shares of the industrial products company’s stock after buying an additional 457 shares during the period. US Bancorp DE’s holdings in NN were worth $265,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of NNBR. Bank of Montreal Can purchased a new position in shares of NN during the first quarter valued at approximately $162,000. Highbridge Capital Management LLC bought a new position in shares of NN during the fourth quarter valued at about $220,000. Metropolitan Life Insurance Co. NY boosted its position in shares of NN by 6.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,698 shares of the industrial products company’s stock valued at $356,000 after buying an additional 1,127 shares in the last quarter. Trexquant Investment LP bought a new position in shares of NN during the fourth quarter valued at about $439,000. Finally, Wexford Capital LP bought a new position in shares of NN during the fourth quarter valued at about $466,000. 95.85% of the stock is owned by institutional investors and hedge funds.
Shares of NN, Inc. (NNBR) opened at 27.25 on Friday. The stock’s 50 day moving average is $28.69 and its 200-day moving average is $23.31. NN, Inc. has a 12-month low of $12.77 and a 12-month high of $31.65. The stock has a market cap of $748.42 million, a PE ratio of 44.67 and a beta of 0.80.
NN (NASDAQ:NNBR) last released its earnings results on Thursday, May 4th. The industrial products company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates 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 expect that NN, Inc. will post $1.84 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Friday, June 2nd were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date was Wednesday, May 31st. NN’s dividend payout ratio (DPR) is currently 45.90%.
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Several equities analysts recently issued reports on NNBR shares. TheStreet upgraded shares of NN from a “c+” rating to a “b” rating in a research report on Monday, June 5th. ValuEngine upgraded shares of NN from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. SunTrust Banks, Inc. assumed coverage on shares of NN in a report on Thursday, June 15th. They issued a “buy” rating and a $37.00 price objective on the stock. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of NN from a “sell” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Tuesday, March 7th. Four research analysts have rated the stock with a buy rating, NN currently has an average rating of “Buy” and a consensus target price 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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