First Trust Advisors LP reduced its stake in NN Inc. (NASDAQ:NNBR) by 5.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,928 shares of the company’s stock after selling 825 shares during the period. First Trust Advisors LP owned approximately 0.05% of NN worth $195,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Royal Bank of Canada increased its stake in shares of NN by 7.8% in the first quarter. Royal Bank of Canada now owns 2,263,002 shares of the company’s stock valued at $30,957,000 after buying an additional 164,535 shares in the last quarter. Wellington Management Group LLP raised 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 last quarter. Royce & Associates LP raised its position in shares of NN by 2.0% in the first quarter. Royce & Associates LP now owns 1,416,666 shares of the company’s stock valued at $19,380,000 after buying an additional 28,400 shares during the last quarter. Primecap Management Co. CA raised its position in shares of NN by 12.6% in the first quarter. Primecap Management Co. CA now owns 1,039,742 shares of the company’s stock valued at $14,224,000 after buying an additional 116,742 shares during the last quarter. Finally, Skyline Asset Management LP raised its position in shares of NN by 26.2% in the first quarter. Skyline Asset Management LP now owns 791,600 shares of the company’s stock valued at $10,829,000 after buying an additional 164,500 shares during the last quarter. 98.46% of the stock is owned by hedge funds and other institutional investors.
Shares of NN Inc. (NASDAQ:NNBR) traded up 1.980% on Tuesday, reaching $17.765. The company’s stock had a trading volume of 22,981 shares. NN Inc. has a 1-year low of $10.34 and a 1-year high of $20.39. The stock’s market cap is $481.88 million. The company’s 50 day moving average is $18.31 and its 200-day moving average is $16.48.
NN (NASDAQ:NNBR) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. NN had a positive return on equity of 10.72% and a negative net margin of 2.85%. The business earned $214.30 million during the quarter, compared to analysts’ expectations of $223.14 million. During the same period in the previous year, the firm earned $0.37 earnings per share. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. On average, equities analysts predict that NN Inc. will post $1.61 earnings per share for the current fiscal year.
Separately, Zacks Investment Research raised NN from a “strong sell” rating to a “hold” rating and set a $23.00 target price on the stock in a research report on Wednesday, October 5th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. NN currently has a consensus rating of “Hold” and an average price target 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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