Thomas C. Jr. Burwell Sells 2,000 Shares of NN, Inc. (NASDAQ:NNBR) Stock

NN, Inc. (NASDAQ:NNBR) insider Thomas C. Jr. Burwell sold 2,000 shares of the company’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $32.00, for a total transaction of $64,000.00. Following the sale, the insider now owns 35,381 shares of the company’s stock, valued at approximately $1,132,192. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

NN, Inc. (NASDAQ NNBR) traded up $0.50 during trading on Friday, hitting $26.25. 96,900 shares of the stock were exchanged, compared to its average volume of 89,704. NN, Inc. has a one year low of $16.00 and a one year high of $32.90. The company has a debt-to-equity ratio of 2.67, a quick ratio of 1.39 and a current ratio of 2.23. The firm has a market cap of $723.79, a P/E ratio of 16.20 and a beta of 0.68.

NN (NASDAQ:NNBR) last posted its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.29 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.29. NN had a negative net margin of 1.76% and a positive return on equity of 13.95%. The company had revenue of $148.16 million during the quarter, compared to the consensus estimate of $150.50 million. During the same period in the prior year, the business posted $0.38 EPS. The company’s quarterly revenue was up 1.0% on a year-over-year basis. analysts expect that NN, Inc. will post 1.58 earnings per share for the current year.

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NNBR has been the subject of several recent research reports. William Blair reiterated a “market perform” rating on shares of NN in a research report on Thursday, August 31st. BidaskClub cut shares of NN from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. KeyCorp reiterated a “buy” rating and set a $36.00 target price on shares of NN in a research report on Friday, October 20th. Zacks Investment Research cut shares of NN from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $29.00 price objective on shares of NN in a research report on Friday, August 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $33.00.

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its position in 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 acquiring an additional 18,750 shares during the last quarter. Jennison Associates LLC lifted its position in NN by 8.8% during the third quarter. Jennison Associates LLC now owns 2,222,746 shares of the industrial products company’s stock worth $64,460,000 after acquiring an additional 179,578 shares during the last quarter. Royal Bank of Canada lifted its position in 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 acquiring an additional 69,123 shares during the last quarter. Vanguard Group Inc. lifted its position in 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 acquiring an additional 53,688 shares during the last quarter. Finally, State Street Corp lifted its position in NN by 4.8% during the second quarter. State Street Corp now owns 490,158 shares of the industrial products company’s stock worth $13,454,000 after acquiring an additional 22,530 shares during the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

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.

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