Insider Selling: NN, Inc. (NNBR) Director Sells $83,340.00 in Stock

NN, Inc. (NASDAQ:NNBR) Director Steven T. Warshaw sold 3,000 shares of the company’s 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 transaction, the director now owns 57,732 shares of the company’s stock, valued at approximately $1,603,794.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

NN, Inc. (NASDAQ NNBR) opened at 27.80 on Friday. NN, Inc. has a 52-week low of $13.43 and a 52-week high of $31.65. The firm’s 50-day moving average is $26.01 and its 200 day moving average is $26.78. The company’s market cap is $765.61 million.

NN (NASDAQ:NNBR) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. NN had a negative net margin of 0.77% and a positive return on equity of 14.58%. The business had revenue of $225.88 million during the quarter, compared to analyst estimates of $221.00 million. During the same quarter in the prior year, the firm earned $0.46 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that NN, Inc. will post $1.62 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Wednesday, August 30th. NN’s payout ratio is -116.67%.

COPYRIGHT VIOLATION NOTICE: “Insider Selling: NN, Inc. (NNBR) Director Sells $83,340.00 in Stock” was originally reported by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this piece on another site, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The correct version of this piece can be viewed at https://stocknewstimes.com/2017/09/22/insider-selling-nn-inc-nnbr-director-sells-83340-00-in-stock.html.

Institutional investors have recently added to or reduced their stakes in the company. D.A. Davidson & CO. purchased a new stake in shares of NN during the second quarter worth $139,000. Envestnet Asset Management Inc. grew its holdings 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 buying an additional 530 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of NN during the first quarter worth $162,000. US Bancorp DE grew its holdings 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 buying an additional 457 shares in the last quarter. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of NN during the second quarter worth $298,000. 91.27% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently weighed in on NNBR. KeyCorp restated a “buy” rating and set a $36.00 target price on shares of NN in a research report on Sunday, September 17th. William Blair restated a “market perform” rating on shares of NN in a research report on Thursday, August 31st. Zacks Investment Research lowered shares of NN from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Stifel Nicolaus restated a “hold” rating and set a $29.00 target price on shares of NN in a research report on Friday, August 4th. Finally, BidaskClub lowered shares of NN from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $31.40.

About NN

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.

Receive News & Ratings for NN Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NN Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply