Bank of America Corp DE lowered its position in NN, Inc. (NASDAQ:NNBR) by 41.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 161,202 shares of the industrial products company’s stock after selling 113,087 shares during the quarter. Bank of America Corp DE owned 0.38% of NN worth $1,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its stake in shares of NN by 2.0% in the fourth quarter. Jennison Associates LLC now owns 3,527,411 shares of the industrial products company’s stock valued at $23,669,000 after buying an additional 70,114 shares during the period. BlackRock Inc. increased its stake in shares of NN by 54.8% in the fourth quarter. BlackRock Inc. now owns 3,014,206 shares of the industrial products company’s stock valued at $20,224,000 after buying an additional 1,067,418 shares during the period. Private Management Group Inc. increased its stake in shares of NN by 194.2% in the fourth quarter. Private Management Group Inc. now owns 2,949,556 shares of the industrial products company’s stock valued at $19,792,000 after buying an additional 1,946,913 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of NN by 11.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,593,354 shares of the industrial products company’s stock valued at $17,401,000 after buying an additional 261,457 shares during the period. Finally, Royce & Associates LP increased its stake in shares of NN by 42.1% in the fourth quarter. Royce & Associates LP now owns 1,990,495 shares of the industrial products company’s stock valued at $13,356,000 after buying an additional 589,871 shares during the period.
Several research analysts have recently issued reports on the company. BidaskClub downgraded NN from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Zacks Investment Research downgraded NN from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. Finally, Robert W. Baird lowered their price objective on NN from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. NN presently has an average rating of “Hold” and a consensus target price of $20.17.
Shares of NNBR stock opened at $9.09 on Friday. NN, Inc. has a one year low of $5.55 and a one year high of $23.60. The company has a market capitalization of $381.73 million, a P/E ratio of 7.77 and a beta of 1.42. The company has a current ratio of 2.05, a quick ratio of 1.20 and a debt-to-equity ratio of 1.94.
NN (NASDAQ:NNBR) last announced its earnings results on Thursday, May 9th. The industrial products company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.04. NN had a positive return on equity of 7.48% and a negative net margin of 34.32%. The business had revenue of $213.26 million for the quarter, compared to analysts’ expectations of $209.86 million. As a group, sell-side analysts anticipate that NN, Inc. will post 1.15 EPS for the current fiscal year.
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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.
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