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, 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.
Read More: What is a portfolio manager?
Receive News & Ratings for NN Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NN and related companies with MarketBeat.com's FREE daily email newsletter.