NN, Inc. (NASDAQ:NNBR) Director Steven T. Warshaw sold 2,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $26.82, for a total value of $53,640.00. Following the completion of the sale, the director now owns 58,732 shares of the company’s stock, valued at $1,575,192.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
NN, Inc. (NASDAQ:NNBR) opened at 27.80 on Monday. The company’s market cap is $765.61 million. The company has a 50-day moving average of $26.01 and a 200 day moving average of $26.61. NN, Inc. has a 12 month low of $13.43 and a 12 month high of $31.65.
NN (NASDAQ:NNBR) last announced its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating 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 company had revenue of $225.88 million for the quarter, compared to analysts’ expectations of $221.00 million. During the same quarter in the previous year, the company earned $0.46 earnings per share. NN’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities analysts forecast 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. Investors of record on Friday, September 1st were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Wednesday, August 30th. NN’s dividend payout ratio is currently -116.67%.
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Several brokerages have recently commented on NNBR. Zacks Investment Research downgraded NN from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 9th. BidaskClub downgraded NN from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. TheStreet upgraded NN from a “c+” rating to a “b” rating in a research note on Monday, June 5th. William Blair restated a “market perform” rating on shares of NN in a research note on Thursday, August 17th. Finally, KeyCorp restated a “buy” rating and issued a $36.00 target price on shares of NN in a research note on Sunday. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $31.40.
Institutional investors and hedge funds have recently made changes to their positions in the business. Nuveen Asset Management LLC grew its holdings in NN by 31.2% in 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 period. Algert Global LLC purchased a new stake in NN in the second quarter worth about $2,173,000. Envestnet Asset Management Inc. grew its holdings in 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 period. US Bancorp DE grew its holdings in 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 period. Finally, Teachers Advisors LLC grew its holdings in NN by 13.5% in the fourth quarter. Teachers Advisors LLC now owns 47,211 shares of the industrial products company’s stock worth $899,000 after purchasing an additional 5,604 shares during the period. Institutional investors and hedge funds own 91.27% of the company’s stock.
NN Company Profile
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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