NN Inc. (NNBR) Trading 2.6% Higher
NN Inc. (NASDAQ:NNBR)’s share price traded up 2.6% during mid-day trading on Friday . The stock traded as high as $15.59 and last traded at $15.57, with a volume of 58,438 shares changing hands. The stock had previously closed at $15.17.
Several equities analysts have recently issued reports on the stock. William Blair reiterated a “market perform” rating and set a $14.00 target price on shares of NN in a report on Monday, March 28th. TheStreet upgraded shares of NN from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $22.50.
The stock’s market capitalization is $422.30 million. The firm’s 50 day moving average is $16.28 and its 200 day moving average is $14.16.
NN (NASDAQ:NNBR) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.26 by $0.01. During the same quarter in the previous year, the company posted $0.36 earnings per share. The firm had revenue of $212.20 million for the quarter, compared to the consensus estimate of $211.47 million. The business’s revenue for the quarter was up 29.6% on a year-over-year basis. On average, analysts forecast that NN Inc. will post $1.66 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 17th. Shareholders of record on Friday, June 3rd were paid a $0.07 dividend. The ex-dividend date was Wednesday, June 1st. This represents a $0.28 dividend on an annualized basis and a yield of 1.79%.
In other NN news, Director Steven T. Warshaw sold 2,500 shares of the company’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $19.02, for a total value of $47,550.00. Following the transaction, the director now directly owns 46,100 shares in the company, valued at approximately $876,822. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Other institutional investors recently modified their holdings of the company. Jennison Associates LLC increased its position 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 in the last quarter. New York State Common Retirement Fund increased its position 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 in the last quarter. Dimensional Fund Advisors LP increased its position 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 in the last quarter. RidgeWorth Capital Management LLC increased its position 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 in the last quarter. Finally, Russell Frank Co increased its position 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 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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