Tag - Nnbr

Metal bearing components, industrial plastic and rubber products manufacturer NN, Inc. (Nasdaq: NNBR) said this morning that it initiated a new share repurchase program in which it will buy back $20 million in shares. Its current $25 million share repurchase program expires Saturday.

Shares gained 5%, or $0.72, to $16.31 midday. For detailed price information and news stories on NN, click NNBR.

K-Tron International Inc. (Nasdaq:KTII), Connecticut Water (Nasdaq:CTWS) and Omega Protein Corp. (Nasdaq:OME) are among the new 52-week highs in Friday's trading among companies with market capitalizations under $1 billion. 

Also included among the results: NN Inc (Nasdaq:NNBR), USA Truck Inc. (Nasdaq:USAK), Almost Family Inc (Nasdaq:AFAM), Ness Technologies Inc. (Nasdaq:NSTC), US Physical Therapy Inc (Nasdaq:USPH) and China Holdings Acquisition (Nasdaq:HOL).      

Here are the new 52-week highs among small caps: 

Small-cap stocks extended the upward march much of the day Wednesday, lifted by tame consumer price inflation data this morning, which eased some concerns that the Federal Reserve’s tightening gun was coming out of the holster sooner than expected. However, the rally sputtered in the final hour of trading, and the Russell 2000 (NYSE:IWM) closed down 0.79, or 0.11%, at 736.07. On the face of things, it might not seem like a big deal to only lose 0.11%, but a lower close when making new five-month highs serves up a potential topping pattern on charts that raises a caution flag heading into action Thursday and Friday.

After yesterday’s glut of Fed speakers inundated the market, many traders came away with the interpretation that Federal Reserve policy makers were turning hawkish, preparing to fight inflation. However, this morning’s CPI reading was seen as a sign that inflation remains at bay — at least for now — which should buy the market some time before rate hikes become plausible. The CPI headline number came in at 0.2%, just below the 0.3% forecast, while the “core” reading, which excludes food and energy, was up 0.1%, also below the 0.2% projection.

While gains in large caps were fairly broad-based Wednesday from a sector perspective, homebuilder and retailer stocks appeared to be especially giddy about the prospect of delaying rate hikes down the road. The S&P Retail Index jumped about 1.6% on the day, with Macy’s Inc. (NYSE:M) rising about 4%. Among homebuilders, DR Horton Inc. (NYSE:DHI) was up over 2% and Lennar Corp. (NYSE:LEN) . . .

There is something nostalgic about companies that manufacture hard tactual things that exist in the physical world. Such manufactures conjure images of the robber-baron years of yore, where huge industrial monoliths created blush-inducing wealth and powered the U.S. economy at a pace China can only imagine.

Of course, those days have long been relegated to historical contemplation; U.S gross domestic now trundles along at a 3% to 4% annual pace (if we're lucky) and most of the industrial manufacturing might has been supplanted by things ephemeral and ambiguous like cyberspace and silicone.

But that's OK; plenty of U.S. companies still thrive on manufacturing hard, tactual things—they just do it on a smaller, more environmentally friendly scale. NN, Inc. (Nasdaq: NNBR) is one of these smaller, more environmentally friendly manufacturers. Specifically, it manufactures high-precision ball-and-roller bearings, steel balls, cylindrical rollers, and plastic and metal retainers. The company's output can be found in such diverse machinery as automotive gearboxes, wheel bearings, hydraulic pumps, electronic instrument and fluid control components.

Since its formation in 1980, NN has grown primarily by acquiring other bearing manufacturers (think an ArcelorMittal (NYSE: MT) strategy, but on a more modest scale). Today, the business encompasses a diversified customer base spread across Europe (59% of sales), North America (30%) and Asia (11%) that's served by an equally diversified production base spread across the United States, Europe and China.

This production base was further spread and diversified last November with the purchase of Whirlaway Corp., a manufacturer of precision metal components and fluid control assemblies, for $45.6 million. Whirlaway is expected to add another $70 million to $75 million to a top-line that has grown at a 17.8% average annual clip over the past decade.   

NN, Inc. (Nasdaq: NNBR) announced before the opening bell that its board of directors authorized a $25 million share repurchase program. NN, a maker of metal bearing components, has about $3 million left of its current $10 million share repurchase program, which expires this month.

Shares purchased under the new program, which is effective immediately, will be bought in the open market.

At the stock’s closing price of $9.85 on Wednesday, the new program would buy about 2.5 million shares, or approximately 1.7% of the firm’s 17 million shares outstanding as of June 30.

In early trading, shares of the small cap are up 7.11%, or $0.70, at $10.55. Over the last 52 weeks, shares have ranged from $8.68 to $13.50.

Educational Development Corp. (Nasdaq: EDUC), IncrediMail, Ltd. (Nasdaq: MAIL) and Tufco Technologies Inc. (Nasdaq: TFCO) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage gainers:

Chemical company ShengdaTech Inc. (Nasdaq: SDTH) said it expects net income of about $23 million in fiscal year 2007. The guidance is 31% higher than the China-based company’s $17.5 million net income in 2006.

Yadkin Valley Financial Corp. (Nasdaq: YAVY) announced it is buying Cardinal State Bank (Nasdaq: CSNC) for about $41.8 million, or $17.62 per share, in cash. Yadkin expects to complete the deal in the fourth quarter of 2007.

Silverleaf Resorts, Inc. (Nasdaq: SVLF) raised its full-year profit guidance, citing boosted Vacation Interval sales and interest income.

Australian investment firm Babcock & Brown Ltd. (ASX: BNB) announced it is buying laundry services business Coinmach Service Corp. (AMEX: DRA) for $713 million.

Hawkins, Inc. (Nasdaq: HWKN) reported a profit of $1.8 million, or $0.18 per share, for the fourth quarter ended April 1, compared with a $1.3 million profit, or $0.13 per share, a year earlier.

These are the biggest percentage gainers in Friday's trading among companies with market capitalizations under $500 million: