JPMorgan Chase & Co. Has $3.93 Million Position in NN, Inc. (NNBR)

JPMorgan Chase & Co. boosted its holdings in NN, Inc. (NASDAQ:NNBR) by 130.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 143,094 shares of the industrial products company’s stock after buying an additional 81,070 shares during the period. JPMorgan Chase & Co. owned approximately 0.52% of NN worth $3,928,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nuveen Asset Management LLC lifted its holdings in NN by 31.2% in the first quarter. Nuveen Asset Management LLC now owns 1,176,352 shares of the industrial products company’s stock valued at $29,644,000 after buying an additional 279,795 shares during the period. Algert Global LLC bought a new stake in shares of NN during the second quarter worth $2,173,000. Envestnet Asset Management Inc. increased its position in shares of NN by 10.3% during the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock worth $143,000 after acquiring an additional 530 shares in the last quarter. US Bancorp DE increased its position in shares of NN by 4.5% during the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock worth $265,000 after acquiring an additional 457 shares in the last quarter. Finally, Skylands Capital LLC increased its position in shares of NN by 15.2% during the second quarter. Skylands Capital LLC now owns 469,350 shares of the industrial products company’s stock worth $12,884,000 after acquiring an additional 61,914 shares in the last quarter. Institutional investors and hedge funds own 91.27% of the company’s stock.

Several brokerages recently commented on NNBR. SunTrust Banks, Inc. began coverage on shares of NN in a report on Thursday, June 15th. They set a “buy” rating and a $37.00 target price for the company. They noted that the move was a valuation call. William Blair reiterated a “market perform” rating on shares of NN in a research note on Thursday, August 31st. Zacks Investment Research cut shares of NN from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. BidaskClub cut shares of NN from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, KeyCorp restated a “buy” rating and set a $36.00 target price on shares of NN in a research note on Sunday, September 17th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $33.00.

In other NN news, Director Steven T. Warshaw sold 2,000 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 58,732 shares of the company’s stock, valued at $1,575,192.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven T. Warshaw sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $27.78, for a total value of $83,340.00. Following the transaction, the director now owns 57,732 shares of the company’s stock, valued at $1,603,794.96. The disclosure for this sale can be found here. Insiders sold 16,000 shares of company stock valued at $436,660 in the last ninety days. 3.32% of the stock is currently owned by insiders.

Shares of NN, Inc. (NNBR) opened at 29.60 on Monday. The company’s 50-day moving average is $27.01 and its 200 day moving average is $27.28. NN, Inc. has a 52-week low of $13.43 and a 52-week high of $31.65. The firm’s market capitalization is $815.18 million.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Wednesday, August 30th. NN’s payout ratio is -116.67%.

WARNING: “JPMorgan Chase & Co. Has $3.93 Million Position in NN, Inc. (NNBR)” was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another domain, it was copied illegally

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nuveen Asset Management LLC lifted its holdings in NN by 31.2% in the first quarter. Nuveen Asset Management LLC now owns 1,176,352 shares of the industrial products company’s stock valued at $29,644,000 after buying an additional 279,795 shares during the period. Algert Global LLC bought a new stake in shares of NN during the second quarter worth $2,173,000. Envestnet Asset Management Inc. increased its position in shares of NN by 10.3% during the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock worth $143,000 after acquiring an additional 530 shares in the last quarter. US Bancorp DE increased its position in shares of NN by 4.5% during the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock worth $265,000 after acquiring an additional 457 shares in the last quarter. Finally, Skylands Capital LLC increased its position in shares of NN by 15.2% during the second quarter. Skylands Capital LLC now owns 469,350 shares of the industrial products company’s stock worth $12,884,000 after acquiring an additional 61,914 shares in the last quarter. Institutional investors and hedge funds own 91.27% of the company’s stock.

Several brokerages recently commented on NNBR. SunTrust Banks, Inc. began coverage on shares of NN in a report on Thursday, June 15th. They set a “buy” rating and a $37.00 target price for the company. They noted that the move was a valuation call. William Blair reiterated a “market perform” rating on shares of NN in a research note on Thursday, August 31st. Zacks Investment Research cut shares of NN from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. BidaskClub cut shares of NN from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, KeyCorp restated a “buy” rating and set a $36.00 target price on shares of NN in a research note on Sunday, September 17th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $33.00.

In other NN news, Director Steven T. Warshaw sold 2,000 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 58,732 shares of the company’s stock, valued at $1,575,192.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven T. Warshaw sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $27.78, for a total value of $83,340.00. Following the transaction, the director now owns 57,732 shares of the company’s stock, valued at $1,603,794.96. The disclosure for this sale can be found here. Insiders sold 16,000 shares of company stock valued at $436,660 in the last ninety days. 3.32% of the stock is currently owned by insiders.

Shares of NN, Inc. (NNBR) opened at 29.60 on Monday. The company’s 50-day moving average is $27.01 and its 200 day moving average is $27.28. NN, Inc. has a 52-week low of $13.43 and a 52-week high of $31.65. The firm’s market capitalization is $815.18 million.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Wednesday, August 30th. NN’s payout ratio is -116.67%.

WARNING: “JPMorgan Chase & Co. Has $3.93 Million Position in NN, Inc. (NNBR)” was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another domain, it was copied illegally and republished in violation of US & international trademark & copyright laws. The legal version of this story can be read at https://ledgergazette.com/2017/10/09/jpmorgan-chase-co-has-3-93-million-position-in-nn-inc-nnbr.html.

NN Company 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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