NN Inc. (NNBR) Sees Large Volume Increase
Shares of NN Inc. (NASDAQ:NNBR) saw an uptick in trading volume on Tuesday . 151,163 shares were traded during trading, an increase of 11% from the previous session’s volume of 135,596 shares.The stock last traded at $17.56 and had previously closed at $16.92.
NNBR has been the topic of a number of recent research reports. TheStreet upgraded shares of NN from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. William Blair restated a “market perform” rating and set a $15.00 price objective (down from $18.00) on shares of NN in a report on Friday, June 10th. Finally, Zacks Investment Research lowered shares of NN from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $15.50.
The stock’s market capitalization is $476.59 million. The company’s 50-day moving average is $16.06 and its 200 day moving average is $14.88.
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 business earned $214.30 million during the quarter, compared to the consensus estimate of $223.14 million. During the same quarter in the previous year, the company earned $0.37 earnings per share. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, equities analysts predict that NN Inc. will post $1.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be given 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 dividend yield of 1.59%.
In related news, Director Steven T. Warshaw sold 2,500 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 46,100 shares in the company, valued at $876,822. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
An institutional investor recently raised its position in NN stock. Jennison Associates LLC increased its position in shares of NN Inc. (NASDAQ:NNBR) by 3.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,940,727 shares of the company’s stock after buying an additional 106,796 shares during the period. Jennison Associates LLC owned 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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