NN, Inc. (NASDAQ:NNBR) insider Thomas C. Jr. Burwell sold 6,000 shares of NN stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $27.38, for a total value of $164,280.00. Following the sale, the insider now directly owns 37,881 shares of the company’s stock, valued at $1,037,181.78. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of NN, Inc. (NASDAQ NNBR) opened at 27.65 on Thursday. The stock has a 50 day moving average price of $26.01 and a 200 day moving average price of $26.78. NN, Inc. has a 12-month low of $13.43 and a 12-month high of $31.65. The stock’s market capitalization is $761.48 million.
NN (NASDAQ:NNBR) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, topping the 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 for the quarter, compared to analysts’ expectations of $221.00 million. During the same quarter last year, the company posted $0.46 earnings per share. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities analysts anticipate that NN, Inc. will post $1.62 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.07 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.01%. NN’s payout ratio is -116.67%.
Several hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in shares of NN by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,306,845 shares of the industrial products company’s stock worth $63,323,000 after purchasing an additional 18,750 shares during the last quarter. Royal Bank of Canada lifted its position in shares of NN by 3.2% during the second quarter. Royal Bank of Canada now owns 2,211,167 shares of the industrial products company’s stock worth $60,698,000 after purchasing an additional 69,123 shares during the last quarter. Primecap Management Co. CA lifted its position in shares of NN by 8.7% during the first quarter. Primecap Management Co. CA now owns 1,705,000 shares of the industrial products company’s stock worth $42,966,000 after purchasing an additional 136,500 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of NN by 31.2% during the first quarter. Nuveen Asset Management LLC now owns 1,176,352 shares of the industrial products company’s stock worth $29,644,000 after purchasing an additional 279,795 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of NN by 5.0% during the second quarter. Vanguard Group Inc. now owns 1,135,524 shares of the industrial products company’s stock worth $31,171,000 after purchasing an additional 53,688 shares during the last quarter. 91.27% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have issued reports on NNBR shares. Zacks Investment Research downgraded NN from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 9th. William Blair reaffirmed a “market perform” rating on shares of NN in a report on Thursday, August 17th. ValuEngine raised NN from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $29.00 price target on shares of NN in a report on Friday, August 4th. Finally, SunTrust Banks, Inc. started coverage on NN in a report on Thursday, June 15th. They set a “buy” rating and a $37.00 price target for the company. They noted that the move was a valuation call. 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’s stock. NN presently has a consensus rating of “Hold” and an average target price 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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