NN Inc. (NNBR) Trading 2.1% Higher
NN Inc. (NASDAQ:NNBR) shares traded up 2.1% during trading on Friday . The stock traded as high as $17.25 and last traded at $17.08, with a volume of 129,311 shares. The stock had previously closed at $16.73.
Several research analysts recently commented on the company. William Blair reaffirmed a “market perform” rating and issued a $15.00 target price (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 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 stock presently has a consensus rating of “Hold” and a consensus price target of $15.50.
The company’s market capitalization is $463.57 million. The stock has a 50-day moving average of $15.94 and a 200-day moving average of $14.75.
NN (NASDAQ:NNBR) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.46 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. The company had revenue of $214.30 million for the quarter, compared to analyst estimates of $223.14 million. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period last year, the firm earned $0.37 EPS. Equities research analysts anticipate that NN Inc. will post $1.59 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Friday, September 2nd will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.64%. 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 business’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $19.02, for a total transaction of $47,550.00. Following the transaction, the director now owns 46,100 shares of the company’s stock, valued at approximately $876,822. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
An institutional investor recently raised its position in NN stock. New York State Common Retirement Fund increased its stake in NN Inc. (NASDAQ:NNBR) by 30.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 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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