Legal & General Group Plc Continues to Hold Stake in NN, Inc. (NNBR)
Legal & General Group Plc maintained its stake in NN, Inc. (NASDAQ:NNBR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,724 shares of the industrial products company’s stock at the end of the 2nd quarter. Legal & General Group Plc’s holdings in NN were worth $186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the company. Wells Fargo & Company MN boosted its position in shares of NN by 0.7% in the 1st quarter. Wells Fargo & Company MN now owns 25,214 shares of the industrial products company’s stock worth $635,000 after purchasing an additional 176 shares in the last quarter. US Bancorp DE lifted its position in NN by 4.5% in the 1st quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock valued at $265,000 after acquiring an additional 457 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in NN by 10.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock valued at $143,000 after acquiring an additional 530 shares in the last quarter. American International Group Inc. lifted its position in NN by 7.1% in the 1st quarter. American International Group Inc. now owns 16,153 shares of the industrial products company’s stock valued at $407,000 after acquiring an additional 1,064 shares in the last quarter. Finally, Teachers Advisors LLC lifted its position in NN by 2.6% in the 1st quarter. Teachers Advisors LLC now owns 48,458 shares of the industrial products company’s stock valued at $1,221,000 after acquiring an additional 1,247 shares in the last quarter. 91.27% of the stock is currently owned by hedge funds and other institutional investors.
NN, Inc. (NASDAQ:NNBR) opened at 30.20 on Friday. NN, Inc. has a 52-week low of $13.43 and a 52-week high of $31.65. The company has a 50-day moving average price of $27.62 and a 200 day moving average price of $27.49. The company’s market capitalization is $831.71 million.
NN (NASDAQ:NNBR) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.03. NN had a negative net margin of 0.77% and a positive return on equity of 14.58%. The business had revenue of $225.88 million during the quarter, compared to the consensus estimate of $221.00 million. During the same period in the previous year, the firm posted $0.46 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that NN, Inc. will post $1.60 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a dividend of $0.07 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 0.93%. NN’s payout ratio is currently -116.67%.
Several equities analysts recently issued reports on the company. Zacks Investment Research cut NN from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 9th. BidaskClub cut NN from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. William Blair reaffirmed a “market perform” rating on shares of NN in a research report on Thursday, August 17th. KeyCorp reaffirmed a “buy” rating and issued a $36.00 price objective on shares of NN in a research report on Sunday, September 17th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $29.00 price objective on shares of NN in a research report on Friday, August 4th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $33.00.
In related news, Director Steven T. Warshaw sold 5,000 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $27.08, for a total transaction of $135,400.00. Following the completion of the transaction, the director now directly owns 58,732 shares in the company, valued at $1,590,462.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas C. Jr. Burwell sold 6,000 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $27.38, for a total transaction of $164,280.00. Following the transaction, the insider now owns 37,881 shares of the company’s stock, valued at $1,037,181.78. The disclosure for this sale can be found here. Insiders have sold 16,000 shares of company stock valued at $436,660 over the last quarter. Insiders own 2.80% of the company’s stock.
NN Company Profile
NN, Inc is a diversified industrial company and a global manufacturer of high precision components and assemblies to a range of markets on a global basis. The Company’s operating segments include: the Precision Engineered Products Group and the Autocam Precision Components Group. Precision Engineered Products Group combines materials science capability with engineering and production solutions to design and manufacture a range of high-precision metal and plastic components, assemblies and finished devices for the medical, electrical, automotive and aerospace end markets.
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