NN Inc. (NNBR) Shares Bought by Royal Bank of Canada
Royal Bank of Canada boosted its position in shares of NN Inc. (NASDAQ:NNBR) by 1.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,301,019 shares of the company’s stock after buying an additional 38,017 shares during the period. Royal Bank of Canada owned 8.48% of NN worth $32,191,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of NN by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,823,633 shares of the company’s stock worth $25,512,000 after buying an additional 85,920 shares during the period. Wellington Management Group LLP boosted 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 worth $21,310,000 after buying an additional 270,391 shares during the period. Private Management Group Inc. boosted its position in shares of NN by 16.7% in the second quarter. Private Management Group Inc. now owns 1,162,556 shares of the company’s stock worth $16,264,000 after buying an additional 166,472 shares during the period. Primecap Management Co. CA boosted its position in shares of NN by 4.8% in the second quarter. Primecap Management Co. CA now owns 1,090,000 shares of the company’s stock worth $15,249,000 after buying an additional 50,258 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in shares of NN by 18.5% in the second quarter. Nuveen Asset Management LLC now owns 581,507 shares of the company’s stock worth $8,135,000 after buying an additional 90,733 shares during the period. Institutional investors own 98.15% of the company’s stock.
Shares of NN Inc. (NASDAQ:NNBR) traded up 2.99% during trading on Friday, hitting $17.20. The stock had a trading volume of 237,906 shares. The firm’s market cap is $468.51 million. NN Inc. has a 12-month low of $10.34 and a 12-month high of $20.39. The stock has a 50-day moving average of $17.35 and a 200 day moving average of $16.80.
NN (NASDAQ:NNBR) last released its earnings results on Wednesday, November 2nd. The company reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.07. The business earned $205 million during the quarter, compared to analyst estimates of $219.13 million. NN had a negative net margin of 2.73% and a positive return on equity of 11.50%. The business’s revenue for the quarter was up 32.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 earnings per share. On average, analysts predict that NN Inc. will post $1.45 earnings per share for the current fiscal year.
Separately, Zacks Investment Research upgraded NN from a “strong sell” rating to a “hold” rating and set a $23.00 target price for the company in a report on Wednesday, October 5th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock 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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