NN Inc. (NNBR) Trading Up 4.3%
NN Inc. (NASDAQ:NNBR) was up 4.3% on Monday . The stock traded as high as $18.45 and last traded at $18.39, with a volume of 64,742 shares. The stock had previously closed at $17.64.
Several equities research analysts recently weighed in on NNBR shares. William Blair reaffirmed a “market perform” rating and set a $15.00 target price (down from $18.00) on shares of NN in a research note on Friday, June 10th. Zacks Investment Research downgraded shares of NN from a “hold” rating to a “sell” rating in a research note on Tuesday, August 9th. One 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. NN has an average rating of “Hold” and an average target price of $15.50.
The company has a 50-day moving average of $16.49 and a 200-day moving average of $15.08. The stock’s market capitalization is $495.85 million.
NN (NASDAQ:NNBR) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.46 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. The firm had revenue of $214.30 million for the quarter, compared to analyst estimates of $223.14 million. NN’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 earnings per share. On average, equities analysts forecast that NN Inc. will post $1.59 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 2nd will be given a $0.07 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $0.28 annualized dividend and a dividend yield of 1.53%.
In related 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 value of $47,550.00. Following the sale, the director now directly owns 46,100 shares of the company’s stock, valued at $876,822. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
A hedge fund recently raised its stake 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 13F filing with the SEC. The fund 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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