NN Inc. (NNBR) Stock Price Up 2.6%
Shares of NN Inc. (NASDAQ:NNBR) rose 2.6% on Friday . The company traded as high as $15.59 and last traded at $15.57, with a volume of 58,438 shares traded. The stock had previously closed at $15.17.
NNBR has been the subject of a number of recent analyst reports. TheStreet upgraded NN from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. William Blair reiterated a “market perform” rating and set a $14.00 price target on shares of NN in a report on Monday, March 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $22.50.
The company’s 50 day moving average is $16.28 and its 200 day moving average is $14.16. The stock’s market capitalization is $422.30 million.
NN (NASDAQ:NNBR) last announced its earnings results on Wednesday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.01. The company earned $212.20 million during the quarter, compared to analysts’ expectations of $211.47 million. During the same quarter last year, the firm posted $0.36 earnings per share. The firm’s revenue was up 29.6% on a year-over-year basis. Analysts anticipate that NN Inc. will post $1.66 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were given a $0.07 dividend. The ex-dividend date was Wednesday, June 1st. This represents a $0.28 annualized dividend and a yield of 1.79%.
In related news, Director Steven T. Warshaw sold 2,500 shares of the company’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $19.02, for a total value of $47,550.00. Following the completion of the transaction, the director now directly owns 46,100 shares in the company, valued at $876,822. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A number of hedge funds have bought and sold shares of the company. Jennison Associates LLC increased its stake in 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 in the last quarter. New York State Common Retirement Fund increased its stake in 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in 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 in the last quarter. RidgeWorth Capital Management LLC increased its stake in 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 in the last quarter. Finally, Russell Frank Co increased its stake in 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 in 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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