NN (NASDAQ:NNBR) Downgraded to “Sell” at ValuEngine
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.
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.
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