NN Inc. (NNBR) Trading 2.1% Higher
NN Inc. (NASDAQ:NNBR) shares traded up 2.1% during trading on Friday . The company traded as high as $17.25 and last traded at $17.08, with a volume of 129,311 shares changing hands. The stock had previously closed at $16.73.
A number of research analysts have commented on the stock. William Blair reissued a “market perform” rating and set a $15.00 target price (down previously from $18.00) on shares of NN in a research report on Friday, June 10th. Zacks Investment Research downgraded shares of NN from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. Finally, TheStreet raised shares of NN from a “sell” rating to a “hold” rating in a research report on Wednesday, April 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $15.50.
The company’s 50-day moving average price is $15.85 and its 200-day moving average price is $14.71. The firm’s market cap is $467.09 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 consensus estimate of $0.46. The firm had revenue of $214.30 million for the quarter, compared to analyst estimates of $223.14 million. The company’s revenue was up 30.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.37 EPS. On average, analysts expect that NN Inc. will post $1.59 earnings per share for the current fiscal year.
The firm also recently declared 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. The ex-dividend date is Wednesday, August 31st. This represents a $0.28 dividend on an annualized basis and a yield of 1.67%.
In other NN news, Director Steven T. Warshaw sold 2,500 shares of the business’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $19.02, for a total transaction of $47,550.00. Following the sale, the director now directly 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 can be accessed through the SEC website.
A hedge fund recently raised its stake in NN stock. Jennison Associates LLC boosted its position in NN Inc. (NASDAQ:NNBR) by 3.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,940,727 shares of the company’s stock after buying an additional 106,796 shares during the period. Jennison Associates LLC owned approximately 10.96% of NN worth $46,875,000 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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