Elk Creek Partners LLC Sells 109,072 Shares of NN, Inc. (NASDAQ:NNBR)

Elk Creek Partners LLC cut its stake in shares of NN, Inc. (NASDAQ:NNBR) by 8.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,130,418 shares of the industrial products company’s stock after selling 109,072 shares during the period. Elk Creek Partners LLC owned 2.67% of NN worth $8,467,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NNBR. Quantamental Technologies LLC bought a new position in NN in the 1st quarter worth about $55,000. Legal & General Group Plc grew its position in NN by 69.0% in the 4th quarter. Legal & General Group Plc now owns 7,303 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 2,981 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of NN by 343.0% in the first quarter. BNP Paribas Arbitrage SA now owns 8,763 shares of the industrial products company’s stock valued at $66,000 after acquiring an additional 6,785 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of NN by 35.0% in the fourth quarter. Citigroup Inc. now owns 9,947 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 2,577 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in shares of NN by 445.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,687 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 8,729 shares in the last quarter. 99.35% of the stock is owned by hedge funds and other institutional investors.

In other NN news, EVP James Robert Atkinson purchased 3,000 shares of the company’s stock in a transaction dated Wednesday, June 19th. The shares were bought at an average price of $8.65 per share, for a total transaction of $25,950.00. Following the purchase, the executive vice president now directly owns 21,550 shares in the company, valued at approximately $186,407.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Floyd purchased 9,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were acquired at an average price of $8.05 per share, for a total transaction of $72,450.00. Following the purchase, the director now owns 23,660 shares in the company, valued at $190,463. The disclosure for this purchase can be found here. 2.48% of the stock is owned by corporate insiders.

Shares of NASDAQ:NNBR traded down $0.04 during mid-day trading on Wednesday, hitting $8.80. The stock had a trading volume of 125,300 shares, compared to its average volume of 363,644. The company has a current ratio of 1.90, a quick ratio of 1.12 and a debt-to-equity ratio of 2.26. The stock has a market capitalization of $381.30 million, a P/E ratio of 7.52 and a beta of 1.41. NN, Inc. has a 12-month low of $5.55 and a 12-month high of $22.15. The firm’s 50 day simple moving average is $8.37.

NN (NASDAQ:NNBR) last released its earnings results on Thursday, May 9th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. NN had a negative net margin of 34.01% and a positive return on equity of 7.79%. The company had revenue of $213.26 million during the quarter, compared to the consensus estimate of $209.86 million. As a group, equities research analysts anticipate that NN, Inc. will post 1.16 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 21st will be given a $0.07 dividend. The ex-dividend date is Thursday, June 20th. This represents a $0.28 dividend on an annualized basis and a yield of 3.18%. NN’s payout ratio is 23.93%.

Several research firms have recently issued reports on NNBR. Zacks Investment Research upgraded shares of NN from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 15th. BidaskClub raised shares of NN from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $17.50.

NN Profile

NN, Inc, a diversified industrial company, designs and manufactures high-precision components and assemblies in the United States, Europe, Asia, Canada, Mexico, South America, and internationally. It operates through Autocam Precision Components Group and Precision Engineered Products Group segments.

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Institutional Ownership by Quarter for NN (NASDAQ:NNBR)

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