NN Inc. (NNBR) Stock Price Down 2.5%
NN Inc. (NASDAQ:NNBR)’s share price dropped 2.5% on Friday . The company traded as low as $16.39 and last traded at $16.44, with a volume of 50,145 shares traded. The stock had previously closed at $16.87.
NNBR has been the subject of a number of recent analyst reports. William Blair reaffirmed a “market perform” rating and issued a $15.00 price objective (down previously from $18.00) on shares of NN in a research note on Friday, June 10th. Zacks Investment Research lowered NN from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, TheStreet raised NN from a “sell” rating to a “hold” rating in a research note on Wednesday, April 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $20.33.
The company’s 50-day moving average price is $15.59 and its 200 day moving average price is $14.53. The stock’s market capitalization is $446.48 million.
NN (NASDAQ:NNBR) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.46 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. The business earned $214.30 million during the quarter, compared to analysts’ expectations of $223.14 million. During the same quarter in the prior year, the firm earned $0.37 EPS. NN’s revenue for the quarter was up 30.0% on a year-over-year basis. On average, equities research analysts anticipate that NN Inc. will post $1.59 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 2nd will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.28 annualized dividend and a dividend yield of 1.70%.
In related news, Director Steven T. Warshaw sold 2,500 shares of NN stock in a transaction dated Tuesday, June 7th. The stock was 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 owns 46,100 shares in the company, valued at approximately $876,822. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
An institutional investor recently raised its position in NN stock. New York State Common Retirement Fund boosted its stake in NN Inc. (NASDAQ:NNBR) by 30.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 146,853 shares of the company’s stock after buying an additional 34,353 shares during the period. New York State Common Retirement Fund owned about 0.55% of NN worth $2,341,000 as of its most recent filing with the SEC.
NN, Inc is a diversified industrial company. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group. Within its Precision Bearing Components Group, the Company manufactures and supplies high precision bearing components, consisting of balls, cylindrical rollers, tapered rollers, spherical rollers and metal retainers for bearing and constant velocity-joint manufacturers.
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