KeyCorp reiterated their buy rating on shares of NN, Inc. (NASDAQ:NNBR) in a research note released on Sunday. The brokerage currently has a $36.00 price objective on the industrial products company’s stock.
A number of other research analysts have also recently issued reports on the company. William Blair reiterated a market perform rating on shares of NN in a research note on Thursday, August 31st. Zacks Investment Research cut NN from a hold rating to a strong sell rating in a research note on Wednesday, August 9th. Stifel Nicolaus reiterated a hold rating and set a $29.00 price objective on shares of NN in a research note on Friday, August 4th. BidaskClub cut NN from a sell rating to a strong sell rating in a research note on Wednesday, August 2nd. Finally, SunTrust Banks, Inc. assumed coverage on NN in a research note on Thursday, June 15th. They set a buy rating and a $37.00 price objective for the company. They noted that the move was a valuation call. Two 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 an average rating of Hold and an average price target of $31.40.
Shares of NN (NASDAQ NNBR) opened at 27.70 on Friday. The company has a 50-day moving average price of $26.01 and a 200-day moving average price of $26.78. The stock’s market capitalization is $762.86 million. NN has a 52-week low of $13.43 and a 52-week high of $31.65.
NN (NASDAQ:NNBR) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.03. NN had a positive return on equity of 14.58% and a negative net margin of 0.77%. The company had revenue of $225.88 million for the quarter, compared to analyst estimates of $221.00 million. During the same period in the previous year, the company posted $0.46 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. On average, equities analysts anticipate that NN will post $1.62 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Wednesday, August 30th. NN’s payout ratio is -116.67%.
In other NN news, Director Steven T. Warshaw sold 3,000 shares of NN stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $27.78, for a total transaction of $83,340.00. Following the completion of the transaction, the director now owns 57,732 shares in the company, valued at $1,603,794.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven T. Warshaw sold 2,000 shares of NN stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $26.82, for a total value of $53,640.00. Following the transaction, the director now owns 58,732 shares of the company’s stock, valued at approximately $1,575,192.24. The disclosure for this sale can be found here. Insiders have sold 16,000 shares of company stock valued at $436,660 in the last quarter. 3.32% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. D.A. Davidson & CO. purchased a new position in shares of NN in the second quarter worth $139,000. Envestnet Asset Management Inc. raised its stake in shares of NN by 10.3% in the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock worth $143,000 after purchasing an additional 530 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of NN in the first quarter worth $162,000. US Bancorp DE raised its stake in shares of NN by 4.5% in the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock worth $265,000 after purchasing an additional 457 shares during the last quarter. Finally, Tudor Investment Corp ET AL purchased a new position in shares of NN in the second quarter worth $298,000. Hedge funds and other institutional investors own 91.27% of the company’s stock.
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.
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