NN, Inc. (NNBR) Director Sells $135,400.00 in Stock
NN, Inc. (NASDAQ:NNBR) Director Steven T. Warshaw sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $27.08, for a total value of $135,400.00. Following the completion of the sale, the director now owns 58,732 shares in the company, valued at approximately $1,590,462.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
NN, Inc. (NASDAQ:NNBR) opened at 27.80 on Monday. The firm’s market capitalization is $765.61 million. The firm has a 50-day moving average price of $26.01 and a 200-day moving average price of $26.61. NN, Inc. has a one year low of $13.43 and a one year high of $31.65.
NN (NASDAQ:NNBR) last announced its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. NN had a positive return on equity of 14.58% and a negative net margin of 0.77%. The company had revenue of $225.88 million for the quarter, compared to the consensus estimate of $221.00 million. During the same period last year, the business posted $0.46 EPS. The company’s revenue was up 5.4% on a year-over-year basis. Equities analysts anticipate that NN, Inc. will post $1.62 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.01%. NN’s dividend payout ratio (DPR) is currently -116.67%.
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Several hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its stake in shares of NN by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,306,845 shares of the industrial products company’s stock valued at $63,323,000 after purchasing an additional 18,750 shares during the last quarter. Royal Bank of Canada grew its stake in shares of NN by 3.2% in the 2nd quarter. Royal Bank of Canada now owns 2,211,167 shares of the industrial products company’s stock valued at $60,698,000 after purchasing an additional 69,123 shares during the last quarter. Primecap Management Co. CA grew its stake in shares of NN by 8.7% in the 1st quarter. Primecap Management Co. CA now owns 1,705,000 shares of the industrial products company’s stock valued at $42,966,000 after purchasing an additional 136,500 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of NN by 31.2% in the 1st quarter. Nuveen Asset Management LLC now owns 1,176,352 shares of the industrial products company’s stock valued at $29,644,000 after purchasing an additional 279,795 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of NN by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,135,524 shares of the industrial products company’s stock valued at $31,171,000 after purchasing an additional 53,688 shares during the last quarter. Institutional investors own 91.27% of the company’s stock.
A number of brokerages recently commented on NNBR. KeyCorp reiterated a “buy” rating and issued a $36.00 target price on shares of NN in a research report on Sunday. William Blair reissued a “market perform” rating on shares of NN in a report on Thursday, August 31st. Zacks Investment Research downgraded NN from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 9th. Stifel Nicolaus reissued a “hold” rating and issued a $29.00 price target on shares of NN in a report on Friday, August 4th. Finally, BidaskClub downgraded NN from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $31.40.
NN Company Profile
NN, Inc is a diversified industrial company and a global manufacturer of high precision components and assemblies to a range of markets on a global basis. The Company’s operating segments include: the Precision Engineered Products Group and the Autocam Precision Components Group. Precision Engineered Products Group combines materials science capability with engineering and production solutions to design and manufacture a range of high-precision metal and plastic components, assemblies and finished devices for the medical, electrical, automotive and aerospace end markets.
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