NN Inc. (NNBR) Shares Up 5.2%
NN Inc. (NASDAQ:NNBR)’s share price shot up 5.2% during mid-day trading on Friday . The stock traded as high as $14.42 and last traded at $14.35, with a volume of 82,131 shares trading hands. The stock had previously closed at $13.64.
Several research firms have recently issued reports on NNBR. Avondale Partners dropped their price target on shares of NN from $25.00 to $16.00 and set a “market outperform” rating for the company in a research note on Friday, March 11th. William Blair reiterated a “market perform” rating and set a $14.00 price objective on shares of NN in a research report on Monday, March 28th. Finally, TheStreet upgraded shares of NN from a “sell” rating to a “hold” rating in a research report on Wednesday, April 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $22.50.
The stock’s 50 day moving average is $16.33 and its 200-day moving average is $14.17. The firm’s market cap is $390.19 million.
NN (NASDAQ:NNBR) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. During the same period last year, the company posted $0.36 earnings per share. The firm had revenue of $212.20 million for the quarter, compared to analysts’ expectations of $211.47 million. The business’s revenue for the quarter was up 29.6% compared to the same quarter last year. On average, equities research analysts expect that NN Inc. will post $1.66 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Wednesday, June 1st.
In related news, Director Steven T. Warshaw sold 2,500 shares of the stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $19.02, for a total transaction of $47,550.00. Following the sale, the director now directly owns 46,100 shares of the company’s stock, valued at approximately $876,822. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Other hedge funds recently made changes to their positions in the company. Russell Frank Co increased its stake in shares of NN by 4.3% in the fourth quarter. Russell Frank Co now owns 95,627 shares of the company’s stock worth $1,505,000 after buying an additional 3,946 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of NN by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,659,380 shares of the company’s stock worth $26,450,000 after buying an additional 26,798 shares during the last quarter. RidgeWorth Capital Management LLC increased its stake in shares of NN by 3.3% in the fourth quarter. RidgeWorth Capital Management LLC now owns 306,775 shares of the company’s stock worth $4,890,000 after buying an additional 9,775 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of NN by 30.5% in the fourth quarter. New York State Common Retirement Fund now owns 146,853 shares of the company’s stock worth $2,341,000 after buying an additional 34,353 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of NN by 3.8% in the fourth quarter. Jennison Associates LLC now owns 2,940,727 shares of the company’s stock worth $46,875,000 after buying an additional 106,796 shares during the last quarter.
NN, Inc is an industrial company and a global manufacturer of metal bearing, plastic, rubber and precision metal components. The Company has three operating segments, the Metal Bearing Components Segment, the Plastic and Rubber Components Segment, and the Autocam Precision Components Segment. It has 25 manufacturing plants in the United States, Western Europe, Eastern Europe, South America and China.
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