NN Inc. (NNBR) Shares Up 5.2%
NN Inc. (NASDAQ:NNBR) shares shot up 5.2% 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 brokerages have weighed in on NNBR. William Blair reiterated a “market perform” rating and issued a $15.00 target price (down from $18.00) on shares of NN in a research note on Friday, June 10th. TheStreet upgraded NN from a “sell” rating to a “hold” rating in a research note on Wednesday, April 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. NN has a consensus rating of “Hold” and a consensus target price of $22.50.
The firm’s market cap is $390.19 million. The firm’s 50 day moving average price is $16.31 and its 200-day moving average price is $14.17.
NN (NASDAQ:NNBR) last released its quarterly earnings results on Wednesday, May 4th. The company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The business earned $212.20 million during the quarter, compared to analyst estimates of $211.47 million. The company’s revenue was up 29.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 EPS. Analysts anticipate 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. Shareholders of record on Friday, June 3rd were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.94%. The ex-dividend date was Wednesday, June 1st.
In other NN news, Director Steven T. Warshaw sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $19.02, for a total transaction of $47,550.00. Following the sale, the director now owns 46,100 shares in the company, valued at $876,822. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of hedge funds have recently made changes to their positions in the stock. Russell Frank Co boosted 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 valued at $1,505,000 after buying an additional 3,946 shares during the last quarter. New York State Common Retirement Fund boosted 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 valued at $2,341,000 after buying an additional 34,353 shares during the last quarter. RidgeWorth Capital Management LLC boosted 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 valued at $4,890,000 after buying an additional 9,775 shares during the last quarter. Jennison Associates LLC boosted 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 valued at $46,875,000 after buying an additional 106,796 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted 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 valued at $26,450,000 after buying an additional 26,798 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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