Dynamic Technology Lab Private Ltd Invests $710,000 in NN, Inc. (NNBR) Stock
Dynamic Technology Lab Private Ltd acquired a new position in NN, Inc. (NASDAQ:NNBR) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 25,892 shares of the industrial products company’s stock, valued at approximately $710,000. Dynamic Technology Lab Private Ltd owned approximately 0.09% of NN as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Nuveen Asset Management LLC raised its stake in NN by 31.2% in 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 in the last quarter. Algert Global LLC acquired a new stake in NN in the 2nd quarter worth about $2,173,000. Envestnet Asset Management Inc. raised its stake in NN by 10.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock worth $143,000 after purchasing an additional 530 shares in the last quarter. EAM Investors LLC acquired a new stake in NN in the 2nd quarter worth about $768,000. Finally, Skylands Capital LLC raised its stake in NN by 15.2% in the 2nd quarter. Skylands Capital LLC now owns 469,350 shares of the industrial products company’s stock worth $12,884,000 after purchasing an additional 61,914 shares in the last quarter. Institutional investors and hedge funds own 91.27% of the company’s stock.
Several analysts have weighed in on NNBR shares. Zacks Investment Research cut shares of NN from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 5th. William Blair reiterated a “market perform” rating on shares of NN in a research note on Tuesday, July 11th. BidaskClub cut shares of NN from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Stifel Nicolaus restated a “hold” rating and issued a $29.00 target price on shares of NN in a research report on Friday, August 4th. Finally, KeyCorp restated a “buy” rating and issued a $36.00 target price on shares of NN in a research report on Sunday, September 17th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $33.00.
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In other news, insider Thomas C. Jr. Burwell sold 6,000 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $27.38, for a total value of $164,280.00. Following the sale, the insider now directly owns 37,881 shares of the company’s stock, valued at $1,037,181.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven T. Warshaw sold 2,000 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $26.82, for a total transaction of $53,640.00. Following the completion of the sale, 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. Over the last three months, insiders sold 16,000 shares of company stock worth $436,660. Insiders own 2.80% of the company’s stock.
NN, Inc. (NNBR) opened at 30.45 on Thursday. The stock has a 50 day moving average of $28.04 and a 200 day moving average of $27.63. The firm’s market capitalization is $838.59 million. NN, Inc. has a 12 month low of $13.43 and a 12 month high of $31.65.
NN (NASDAQ:NNBR) last announced its quarterly earnings results 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 negative net margin of 0.77% and a positive return on equity of 14.58%. The firm had revenue of $225.88 million for the quarter, compared to the consensus estimate of $221.00 million. During the same period in the prior year, the firm posted $0.46 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities analysts predict that NN, Inc. will post $1.60 earnings per share for the current fiscal year.
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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