NN, Inc. (NNBR) Shares Sold by RidgeWorth Capital Management LLC
RidgeWorth Capital Management LLC decreased its stake in shares of NN, Inc. (NASDAQ:NNBR) by 3.4% during the fourth quarter, Holdings Channel reports. The fund owned 323,832 shares of the company’s stock after selling 11,454 shares during the period. RidgeWorth Capital Management LLC owned approximately 1.19% of NN worth $6,169,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. SG Capital Management LLC acquired a new position in NN during the third quarter valued at $1,084,000. ACK Asset Management LLC raised its position in NN by 14.4% in the third quarter. ACK Asset Management LLC now owns 725,000 shares of the company’s stock valued at $13,231,000 after buying an additional 91,000 shares during the period. Boston Partners acquired a new position in NN during the third quarter valued at $3,938,000. DIAM Co. Ltd. acquired a new position in NN during the third quarter valued at $199,000. Finally, Victory Capital Management Inc. raised its position in NN by 24.7% in the third quarter. Victory Capital Management Inc. now owns 59,065 shares of the company’s stock valued at $1,078,000 after buying an additional 11,700 shares during the period. 96.99% of the stock is currently owned by hedge funds and other institutional investors.
NN, Inc. (NASDAQ:NNBR) traded down 1.25% during trading on Friday, hitting $19.80. 32,673 shares of the stock traded hands. The firm’s 50-day moving average is $19.36 and its 200 day moving average is $18.01. The stock’s market cap is $539.33 million. NN, Inc. has a 52 week low of $11.05 and a 52 week high of $20.70.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 3rd. Stockholders of record on Friday, February 17th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, February 15th. This represents a $0.28 annualized dividend and a dividend yield of 1.40%. NN’s dividend payout ratio is presently -33.33%.
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NNBR has been the subject of several research reports. Lake Street Capital initiated coverage on shares of NN in a research report on Wednesday, December 21st. They set a “buy” rating and a $30.00 price objective for the company. Zacks Investment Research lowered shares of NN from a “hold” rating to a “sell” rating in a research report on Tuesday, January 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. NN currently has a consensus rating of “Hold” and a consensus price target of $21.00.
In other news, Director Steven T. Warshaw sold 7,500 shares of the business’s stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $20.01, for a total value of $150,075.00. Following the sale, the director now owns 60,100 shares in the company, valued at approximately $1,202,601. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is currently owned by insiders.
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.
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