NN Inc. (NNBR) Trading Down 1.5%
NN Inc. (NASDAQ:NNBR) dropped 1.5% during trading on Wednesday . The stock traded as low as $12.77 and last traded at $13.32, with a volume of 140,668 shares. The stock had previously closed at $13.52.
NNBR has been the subject of several analyst reports. William Blair restated a “market perform” rating and issued a $14.00 price objective on shares of NN in a research note on Monday, March 28th. TheStreet upgraded NN from a “sell” rating to a “hold” rating in a research note on Wednesday, April 27th. Finally, Avondale Partners cut their price target on NN from $25.00 to $16.00 and set a “market outperform” rating for the company in a research note on Friday, March 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $22.50.
The firm’s market cap is $363.74 million. The stock’s 50-day moving average is $16.39 and its 200 day moving average is $14.17.
NN (NASDAQ:NNBR) last released its earnings results on Wednesday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. The business had revenue of $212.20 million for the quarter, compared to analyst estimates of $211.47 million. NN’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 earnings per share. On average, equities research analysts predict that NN Inc. will post $1.67 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 17th. Shareholders of record on Friday, June 3rd were issued a dividend of $0.07 per share. The ex-dividend date was Wednesday, June 1st. This represents a $0.28 dividend on an annualized basis and a yield of 2.08%.
In other NN news, Director Steven T. Warshaw sold 2,500 shares of the 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 sale, the director now directly owns 46,100 shares in the company, valued at approximately $876,822. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Other large investors have recently made changes to their positions in the company. Russell Frank Co increased its stake in shares of NN by 4.3% in the fourth quarter. Russell Frank Co now owns 95,627 shares of the company’s stock worth $1,505,000 after buying an additional 3,946 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of NN by 30.5% in the fourth quarter. New York State Common Retirement Fund now owns 146,853 shares of the company’s stock worth $2,341,000 after buying an additional 34,353 shares in the last quarter. RidgeWorth Capital Management LLC increased its stake in shares of NN by 3.3% in the fourth quarter. RidgeWorth Capital Management LLC now owns 306,775 shares of the company’s stock worth $4,890,000 after buying an additional 9,775 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of NN by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,659,380 shares of the company’s stock worth $26,450,000 after buying an additional 26,798 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in shares of NN by 3.8% in the fourth quarter. Jennison Associates LLC now owns 2,940,727 shares of the company’s stock worth $46,875,000 after buying an additional 106,796 shares in the last quarter.
NN, Inc is an industrial company and a global manufacturer of metal bearing, plastic, rubber and precision metal components. The Company has three operating segments, the Metal Bearing Components Segment, the Plastic and Rubber Components Segment, and the Autocam Precision Components Segment. It has 25 manufacturing plants in the United States, Western Europe, Eastern Europe, South America and China.
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