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%.
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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.
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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