NN, Inc. (NASDAQ:NNBR) Director Steven T. Warshaw sold 3,000 shares of NN stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $27.78, for a total value of $83,340.00. Following the transaction, the director now owns 57,732 shares in the company, valued at approximately $1,603,794.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
NN, Inc. (NNBR) opened at 27.70 on Wednesday. The stock’s 50 day moving average price is $26.01 and its 200 day moving average price is $26.78. The stock’s market cap is $762.86 million. NN, Inc. has a 12-month low of $13.43 and a 12-month high of $31.65.
NN (NASDAQ:NNBR) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.03. NN had a positive return on equity of 14.58% and a negative net margin of 0.77%. The firm had revenue of $225.88 million for the quarter, compared to the consensus estimate of $221.00 million. During the same period in the prior year, the business posted $0.46 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Analysts forecast 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. Investors of record on Friday, September 1st were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.28 annualized dividend and a yield of 1.01%. NN’s dividend payout ratio (DPR) is presently -116.67%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. purchased a new position in NN during the second quarter worth about $139,000. Envestnet Asset Management Inc. lifted its position in 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 during the period. Bank of Montreal Can purchased a new position in NN during the first quarter worth about $162,000. US Bancorp DE lifted its position in 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 during the period. Finally, Tudor Investment Corp ET AL purchased a new position in NN during the second quarter worth about $298,000. Hedge funds and other institutional investors own 91.27% of the company’s stock.
Several research analysts have recently commented on the company. KeyCorp reiterated a “buy” rating and set a $36.00 price target on shares of NN in a report on Sunday. Stifel Nicolaus reiterated a “hold” rating and set a $29.00 price target on shares of NN in a report on Friday, August 4th. BidaskClub lowered NN from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. William Blair reiterated a “market perform” rating on shares of NN in a report on Tuesday, July 11th. Finally, Zacks Investment Research lowered NN from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $31.40.
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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