NN, Inc. (NASDAQ:NNBR) has earned a consensus rating of “Hold” from the six ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $33.50.
Several analysts have weighed in on NNBR shares. ValuEngine raised NN from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. TheStreet raised NN from a “c+” rating to a “b” rating in a research report on Monday, June 5th. SunTrust Banks, Inc. started coverage on NN in a research report on Thursday, June 15th. They set a “buy” rating and a $37.00 price objective on the stock. They noted that the move was a valuation call. Zacks Investment Research cut NN from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, William Blair reaffirmed a “market perform” rating on shares of NN in a research report on Tuesday.
A number of hedge funds have recently bought and sold shares of NNBR. Russell Investments Group Ltd. purchased a new stake in NN during the fourth quarter valued at $1,194,000. State Street Corp boosted its stake in NN by 5.2% in the fourth quarter. State Street Corp now owns 534,187 shares of the industrial products company’s stock valued at $10,174,000 after buying an additional 26,261 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in NN by 8.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,145,398 shares of the industrial products company’s stock valued at $40,870,000 after buying an additional 175,151 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in NN by 6.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,698 shares of the industrial products company’s stock valued at $356,000 after buying an additional 1,127 shares during the last quarter. Finally, Norges Bank purchased a new stake in NN during the fourth quarter valued at $5,388,000. 95.85% of the stock is currently owned by institutional investors and hedge funds.
Shares of NN (NNBR) traded up 1.57% on Tuesday, reaching $29.20. The company’s stock had a trading volume of 146,008 shares. The company has a market cap of $801.98 million, a P/E ratio of 47.87 and a beta of 0.63. NN has a 12-month low of $13.43 and a 12-month high of $31.65. The company’s 50 day moving average price is $28.30 and its 200 day moving average price is $23.72.
NN (NASDAQ:NNBR) last posted its quarterly earnings data on Thursday, May 4th. The industrial products company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.05. The business had revenue of $226.31 million for the quarter, compared to analysts’ expectations of $215.86 million. NN had a return on equity of 14.04% and a net margin of 2.00%. Analysts forecast that NN will post $1.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Friday, June 2nd were given a dividend of $0.07 per share. The ex-dividend date was Wednesday, May 31st. This represents a $0.28 annualized dividend and a yield of 0.96%. NN’s payout ratio is 45.90%.
NN, Inc is a diversified industrial company and a manufacturer of high precision bearing components, industrial plastic products and precision metal components to a range of markets on a global basis. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group.
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