Mitra Capital LLC Takes $923,000 Position in NN, Inc. (NNBR)

Mitra Capital LLC acquired a new position in NN, Inc. (NASDAQ:NNBR) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 33,640 shares of the industrial products company’s stock, valued at approximately $923,000. NN comprises 3.4% of Mitra Capital LLC’s portfolio, making the stock its 14th biggest holding. Mitra Capital LLC owned 0.12% of NN at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in NN by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,306,845 shares of the industrial products company’s stock worth $63,323,000 after buying an additional 18,750 shares in the last quarter. Royal Bank of Canada lifted its holdings in NN by 3.2% during the 2nd quarter. Royal Bank of Canada now owns 2,211,167 shares of the industrial products company’s stock worth $60,698,000 after buying an additional 69,123 shares in the last quarter. Primecap Management Co. CA lifted its holdings in NN by 8.7% during the 1st quarter. Primecap Management Co. CA now owns 1,705,000 shares of the industrial products company’s stock worth $42,966,000 after buying an additional 136,500 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings 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 buying an additional 279,795 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in NN by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,135,524 shares of the industrial products company’s stock worth $31,171,000 after buying an additional 53,688 shares in the last quarter. Hedge funds and other institutional investors own 91.27% of the company’s stock.

In related news, insider Thomas C. Jr. Burwell sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $27.38, for a total transaction of $164,280.00. Following the transaction, the insider now directly owns 37,881 shares of the company’s stock, valued at approximately $1,037,181.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven T. Warshaw sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $26.82, for a total value of $53,640.00. Following the transaction, the director now directly owns 58,732 shares in the company, valued at $1,575,192.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,000 shares of company stock worth $436,660. Company insiders own 2.80% of the company’s stock.

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A number of equities research analysts have recently weighed in on the stock. KeyCorp restated a “buy” rating and issued a $36.00 price objective on shares of NN in a report on Sunday, September 17th. Zacks Investment Research lowered shares of NN from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. BidaskClub lowered shares of NN from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. William Blair restated a “market perform” rating on shares of NN in a report on Tuesday, July 11th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $29.00 price objective on shares of NN in a report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. NN has an average rating of “Hold” and an average price target of $33.00.

Shares of NN, Inc. (NASDAQ:NNBR) traded up 1.51% on Friday, reaching $30.20. 51,818 shares of the company’s stock traded hands. The company has a 50 day moving average of $27.69 and a 200-day moving average of $27.52. NN, Inc. has a 52 week low of $13.43 and a 52 week high of $31.65. The stock’s market capitalization is $831.71 million.

NN (NASDAQ:NNBR) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. NN had a positive return on equity of 14.58% and a negative net margin of 0.77%. The company had revenue of $225.88 million for the quarter, compared to analysts’ expectations of $221.00 million. During the same quarter in the prior year, the business posted $0.46 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts forecast that NN, Inc. will post $1.60 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Wednesday, August 30th. NN’s dividend payout ratio is currently -116.67%.

NN 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.

Institutional Ownership by Quarter for NN (NASDAQ:NNBR)

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