California Public Employees Retirement System cut its stake in shares of NN Inc. (NASDAQ:NNBR) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 131,900 shares of the company’s stock after selling 3,000 shares during the period. California Public Employees Retirement System owned 0.49% of NN worth $1,845,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in NNBR. Bank of New York Mellon Corp boosted its position in NN by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 145,823 shares of the company’s stock valued at $2,040,000 after buying an additional 625 shares in the last quarter. Swiss National Bank increased its stake in NN by 4.3% in the second quarter. Swiss National Bank now owns 43,280 shares of the company’s stock worth $605,000 after buying an additional 1,800 shares in the last quarter. Suntrust Banks Inc. increased its stake in NN by 21.1% in the second quarter. Suntrust Banks Inc. now owns 20,100 shares of the company’s stock worth $281,000 after buying an additional 3,500 shares in the last quarter. Geode Capital Management LLC increased its stake in NN by 5.2% in the first quarter. Geode Capital Management LLC now owns 179,380 shares of the company’s stock worth $2,453,000 after buying an additional 8,844 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in NN during the second quarter worth $220,000. 98.44% of the stock is owned by institutional investors and hedge funds.
NN Inc. (NASDAQ:NNBR) traded down 3.51% on Friday, reaching $19.50. The company had a trading volume of 159,399 shares. NN Inc. has a 12-month low of $10.34 and a 12-month high of $20.39. The stock’s market capitalization is $528.94 million. The stock’s 50-day moving average price is $18.11 and its 200-day moving average price is $16.22.
NN (NASDAQ:NNBR) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46. The firm earned $214.30 million during the quarter, compared to analyst estimates of $223.14 million. NN had a positive return on equity of 10.72% and a negative net margin of 2.85%. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 earnings per share. On average, equities research analysts anticipate that NN Inc. will post $1.61 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were given a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.44%. NN’s dividend payout ratio is currently -34.15%.
NNBR has been the subject of a number of analyst reports. Zacks Investment Research raised NN from a “strong sell” rating to a “hold” rating and set a $23.00 price target for the company in a research note on Wednesday. William Blair reaffirmed a “market perform” rating and issued a $15.00 price target (down previously from $18.00) on shares of NN in a research note on Friday, June 10th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price 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.