Dimensional Fund Advisors LP Sells 305,128 Shares of NN, Inc. $NNBR

Key Points

• Dimensional Fund Advisors cut its NN, Inc. stake by 52%, selling 305,128 shares during the first quarter and retaining 282,019 shares worth approximately $409,000. Institutional investors and hedge funds collectively own 53.92% of NN’s stock.
• NN reported quarterly EPS of $0.11 and revenue of $128.74 million, exceeding analysts’ revenue expectations of $116.09 million. Analysts project full-year EPS of $0.13.
• NNBR shares opened at $3.90, while analyst sentiment remains mixed, resulting in an average “Hold” rating and an average price target of $5.67.

Dimensional Fund Advisors LP decreased its position in shares of NN, Inc. (NASDAQ:NNBR - Free Report) by 52.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 282,019 shares of the industrial products company's stock after selling 305,128 shares during the quarter. Dimensional Fund Advisors LP owned about 0.56% of NN worth $409,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NNBR. Two Sigma Investments LP bought a new stake in shares of NN in the third quarter worth about $27,000. Hudson Bay Capital Management LP bought a new stake in NN during the 2nd quarter worth approximately $29,000. Virtu Financial LLC acquired a new stake in NN during the 4th quarter worth approximately $30,000. Quinn Opportunity Partners LLC acquired a new stake in NN during the 4th quarter worth approximately $32,000. Finally, Squarepoint Ops LLC bought a new position in NN in the third quarter valued at approximately $88,000. Institutional investors and hedge funds own 53.92% of the company's stock.

NN Stock Performance

Shares of NNBR opened at $3.90 on Friday. The company has a market cap of $322.06 million, a PE ratio of -4.06 and a beta of 2.57. The firm has a 50-day moving average of $3.32 and a 200-day moving average of $2.41. NN, Inc. has a one year low of $1.10 and a one year high of $4.48. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.79 and a quick ratio of 1.08.

NN (NASDAQ:NNBR - Get Free Report) last issued its earnings results on Wednesday, August 5th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter. NN had a negative net margin of 6.21% and a positive return on equity of 20.38%. The company had revenue of $128.74 million for the quarter, compared to analysts' expectations of $116.09 million. As a group, equities analysts forecast that NN, Inc. will post 0.13 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of NN in a research report on Friday, July 17th. Craig Hallum initiated coverage on shares of NN in a research report on Monday, July 20th. They issued a "buy" rating and a $7.00 price objective on the stock. Wall Street Zen cut NN from a "buy" rating to a "hold" rating in a report on Sunday. Zacks Research raised NN from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 6th. Finally, B. Riley Financial lowered NN from a "buy" rating to a "neutral" rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $5.67.

NN Company Profile

NN, Inc NASDAQ: NNBR is a diversified industrial manufacturing company specializing in engineered metal components, powder metal parts and friction materials. Through its subsidiaries, the company develops and produces precision-rolled products for powertrain and chassis applications, engineered friction products for brake and transmission systems, and various metal powders used in automotive, industrial and energy markets. Its offerings span a wide range of component sizes and complexity, from thin‐gauge strips for hybrid and electric vehicle applications to high‐volume sintered parts for commercial and consumer products.

The company's operations are organized into three business segments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source