NN Inc. (NNBR) Shares Gap Up to $17.57
NN Inc. (NASDAQ:NNBR) gapped up prior to trading on Wednesday . The stock had previously closed at $17.42, but opened at $17.57. NN shares last traded at $18.12, with a volume of 76,420 shares trading hands.
A number of equities research analysts have commented on the company. Zacks Investment Research cut NN from a “hold” rating to a “sell” rating in a research note on Tuesday, August 9th. William Blair reiterated a “market perform” rating and issued a $15.00 price target (down from $18.00) on shares of NN in a research note on Friday, June 10th. 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 stock. The company has a consensus rating of “Hold” and a consensus target price of $15.50.
The stock’s market cap is $481.20 million. The firm’s 50-day moving average price is $16.27 and its 200 day moving average price is $14.92.
NN (NASDAQ:NNBR) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.46 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.46. During the same period in the previous year, the firm posted $0.37 earnings per share. The firm earned $214.30 million during the quarter, compared to analyst estimates of $223.14 million. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. On average, equities research analysts anticipate that NN Inc. will post $1.59 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.60%.
In other news, Director Steven T. Warshaw sold 2,500 shares of NN 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 of the company’s stock, valued at $876,822. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
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 disclosure with the 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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