NN Inc. (NNBR) Shares Down 2.5%
NN Inc. (NASDAQ:NNBR) shares dropped 2.5% during trading on Friday . The stock traded as low as $16.39 and last traded at $16.44, with a volume of 50,145 shares trading hands. The stock had previously closed at $16.87.
NNBR has been the subject of several recent research reports. William Blair reissued a “market perform” rating and set a $15.00 price target (down from $18.00) on shares of NN in a research report on Friday, June 10th. Zacks Investment Research cut NN from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. Finally, TheStreet raised NN from a “sell” rating to a “hold” rating in a research report on Wednesday, April 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $20.33.
The stock’s 50 day moving average price is $15.55 and its 200-day moving average price is $14.57. The firm’s market capitalization is $446.48 million.
NN (NASDAQ:NNBR) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.46 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. The company earned $214.30 million during the quarter, compared to analysts’ expectations of $223.14 million. The business’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the business earned $0.37 earnings per share. Equities analysts anticipate that NN Inc. will post $1.59 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Friday, September 2nd will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Wednesday, August 31st.
In other NN news, Director Steven T. Warshaw sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $19.02, for a total transaction of $47,550.00. Following the completion of the transaction, the director now owns 46,100 shares of the company’s stock, valued at $876,822. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
An institutional investor recently raised its position in NN stock. New York State Common Retirement Fund raised its position in shares of NN Inc. (NASDAQ:NNBR) by 30.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 0.55% of NN worth $2,341,000 at the end of the most recent reporting period.
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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