Gotham Asset Management LLC Buys New Position in NN, Inc. (NNBR)
Gotham Asset Management LLC bought a new stake in shares of NN, Inc. (NASDAQ:NNBR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,590 shares of the industrial products company’s stock, valued at approximately $538,000. Gotham Asset Management LLC owned 0.07% of NN as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Nuveen Asset Management LLC increased its stake in shares of NN by 31.2% during the first quarter. Nuveen Asset Management LLC now owns 1,176,352 shares of the industrial products company’s stock valued at $29,644,000 after buying an additional 279,795 shares during the period. Algert Global LLC purchased a new position in shares of NN during the second quarter valued at approximately $2,173,000. Envestnet Asset Management Inc. increased its stake in shares of NN by 10.3% during the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock valued at $143,000 after buying an additional 530 shares during the period. EAM Investors LLC purchased a new position in shares of NN during the second quarter valued at approximately $768,000. Finally, Skylands Capital LLC increased its stake in shares of NN by 15.2% during the second quarter. Skylands Capital LLC now owns 469,350 shares of the industrial products company’s stock valued at $12,884,000 after buying an additional 61,914 shares during the period. 91.27% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NN, Inc. (NASDAQ NNBR) opened at 30.80 on Friday. The company’s market capitalization is $848.23 million. The company’s 50 day moving average price is $28.20 and its 200 day moving average price is $27.66. NN, Inc. has a 52-week low of $13.43 and a 52-week high of $31.65.
NN (NASDAQ:NNBR) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. The firm had revenue of $225.88 million for the quarter, compared to the consensus estimate of $221.00 million. NN had a positive return on equity of 14.58% and a negative net margin of 0.77%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 earnings per share. On average, analysts predict that NN, Inc. will post $1.60 EPS for the current year.
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Several equities analysts have recently issued reports on the company. KeyCorp reissued a “buy” rating and set a $36.00 target price on shares of NN in a research note on Friday. William Blair reissued a “market perform” rating on shares of NN in a research note on Thursday, August 31st. Zacks Investment Research cut NN from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Stifel Nicolaus restated a “hold” rating and set a $29.00 price target on shares of NN in a research report on Friday, August 4th. Finally, BidaskClub lowered NN from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $33.00.
In other NN news, Director Steven T. Warshaw sold 2,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $26.82, for a total transaction of $53,640.00. Following the transaction, the director now directly owns 58,732 shares in the company, valued at approximately $1,575,192.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas C. Jr. Burwell sold 6,000 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $27.38, for a total value of $164,280.00. Following the transaction, the insider now owns 37,881 shares in the company, valued at $1,037,181.78. The disclosure for this sale can be found here. Insiders have sold a total of 16,000 shares of company stock worth $436,660 over the last 90 days. 2.80% of the stock is currently owned by company insiders.
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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