Bank of Montreal Can continued to hold its stake in NN, Inc. (NASDAQ:NNBR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,454 shares of the industrial products company’s stock at the close of the 2nd quarter. Bank of Montreal Can’s holdings in NN were worth $178,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Nuveen Asset Management LLC grew its position in NN by 31.2% during the 1st quarter. Nuveen Asset Management LLC now owns 1,176,352 shares of the industrial products company’s stock worth $29,644,000 after purchasing an additional 279,795 shares during the last quarter. Granahan Investment Management Inc. MA purchased a new stake in shares of NN in the first quarter valued at about $3,248,000. Bank of America Corp DE boosted its holdings in shares of NN by 52.6% in the first quarter. Bank of America Corp DE now owns 126,455 shares of the industrial products company’s stock valued at $3,187,000 after acquiring an additional 43,605 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of NN by 23.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 133,392 shares of the industrial products company’s stock valued at $3,362,000 after acquiring an additional 25,011 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new stake in shares of NN in the first quarter valued at about $650,000. Institutional investors and hedge funds own 91.27% of the company’s stock.
Shares of NN, Inc. (NNBR) traded down 0.693% during mid-day trading on Wednesday, hitting $25.075. 121,283 shares of the company’s stock were exchanged. NN, Inc. has a 52 week low of $13.43 and a 52 week high of $31.65. The company’s market capitalization is $690.57 million. The firm has a 50 day moving average price of $26.63 and a 200-day moving average price of $26.40.
NN (NASDAQ:NNBR) last issued its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. The company had revenue of $225.88 million during the quarter, compared to analysts’ expectations of $221 million. NN had a positive return on equity of 14.58% and a negative net margin of 0.77%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the business earned $0.46 earnings per share. On average, equities analysts anticipate that NN, Inc. will post $1.62 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.11%. NN’s dividend payout ratio is -116.67%.
NNBR has been the subject of a number of research reports. Zacks Investment Research cut shares of NN from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Stifel Nicolaus reaffirmed a “hold” rating and set a $29.00 price target on shares of NN in a research report on Friday, August 4th. William Blair reiterated a “market perform” rating on shares of NN in a research note on Thursday, August 31st. BidaskClub downgraded shares of NN from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Finally, ValuEngine upgraded shares of NN from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $30.25.
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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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