ValuEngine cut shares of NN (NASDAQ:NNBR) from a hold rating to a sell rating in a research note issued to investors on Thursday morning, ValuEngine reports.

NNBR has been the subject of several other research reports. BidaskClub lowered Xperi from a sell rating to a strong sell rating in a report on Wednesday, June 19th. Zacks Investment Research lowered H&E Equipment Services from a hold rating to a sell rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. NN has an average rating of Hold and an average price target of $17.42.

NN stock opened at $8.03 on Thursday. The company has a market cap of $340.21 million, a price-to-earnings ratio of 6.86 and a beta of 1.56. The business has a fifty day simple moving average of $8.60. NN has a 12 month low of $5.55 and a 12 month high of $22.15. The company has a current ratio of 1.90, a quick ratio of 1.12 and a debt-to-equity ratio of 2.26.

NN (NASDAQ:NNBR) last posted its earnings results on Thursday, May 9th. The industrial products company reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.04. NN had a positive return on equity of 7.79% and a negative net margin of 34.01%. The business had revenue of $213.26 million during the quarter, compared to analyst estimates of $209.86 million. On average, research analysts expect that NN will post 1.16 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 21st were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend was Thursday, June 20th. NN’s payout ratio is currently 23.93%.

In related news, Director David Floyd bought 9,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average cost of $8.05 per share, for a total transaction of $72,450.00. Following the completion of the transaction, the director now owns 23,660 shares of the company’s stock, valued at $190,463. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James Robert Atkinson bought 3,000 shares of the stock in a transaction that occurred on Wednesday, June 19th. The shares were bought at an average price of $8.65 per share, for a total transaction of $25,950.00. Following the completion of the transaction, the executive vice president now directly owns 21,550 shares of the company’s stock, valued at approximately $186,407.50. The disclosure for this purchase can be found here. Insiders own 2.48% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its position in NN by 69.0% during the fourth quarter. Legal & General Group Plc now owns 7,303 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 2,981 shares in the last quarter. Quantamental Technologies LLC purchased a new position in NN during the first quarter valued at $55,000. BNP Paribas Arbitrage SA lifted its position in NN by 343.0% during the first quarter. BNP Paribas Arbitrage SA now owns 8,763 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 6,785 shares in the last quarter. Citigroup Inc. lifted its position in NN by 35.0% during the fourth quarter. Citigroup Inc. now owns 9,947 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 2,577 shares in the last quarter. Finally, Nisa Investment Advisors LLC purchased a new position in NN during the second quarter valued at $68,000. Institutional investors own 99.37% of the company’s stock.

NN Company Profile

NN, Inc, a diversified industrial company, designs and manufactures high-precision components and assemblies in the United States, Europe, Asia, Canada, Mexico, South America, and internationally. It operates through Autocam Precision Components Group and Precision Engineered Products Group segments.

Recommended Story: Can systematic risk be avoided?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for NN (NASDAQ:NNBR)

Receive News & Ratings for NN Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NN and related companies with MarketBeat.com's FREE daily email newsletter.