NN, Inc. (NASDAQ:NNBR) insider Thomas C. Jr. Burwell sold 6,000 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $27.38, for a total value of $164,280.00. Following the transaction, the insider now directly owns 37,881 shares of the company’s stock, valued at $1,037,181.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
NN, Inc. (NNBR) opened at 27.70 on Wednesday. The company’s 50-day moving average price is $26.01 and its 200 day moving average price is $26.78. The company’s market capitalization is $762.86 million. NN, Inc. has a 12 month low of $13.43 and a 12 month high of $31.65.
NN (NASDAQ:NNBR) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. NN had a negative net margin of 0.77% and a positive return on equity of 14.58%. The business had revenue of $225.88 million during the quarter, compared to analyst estimates of $221.00 million. During the same period in the prior year, the business posted $0.46 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. Analysts forecast that NN, Inc. will post $1.62 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.28 annualized dividend and a yield of 1.01%. NN’s payout ratio is -116.67%.
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Several research analysts recently issued reports 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 target price for the company. They noted that the move was a valuation call. Zacks Investment Research lowered 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, July 11th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. NN presently has an average rating of “Hold” and a consensus target price of $31.40.
Several large investors have recently modified their holdings of NNBR. D.A. Davidson & CO. bought a new position in shares of NN during the second quarter valued at about $139,000. Envestnet Asset Management Inc. raised its stake in shares of NN by 10.3% during the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock valued at $143,000 after acquiring an additional 530 shares during the last quarter. Bank of Montreal Can bought a new position in shares of NN during the first quarter valued at about $162,000. US Bancorp DE raised its stake in shares of NN by 4.5% during the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock valued at $265,000 after acquiring an additional 457 shares during the last quarter. Finally, Tudor Investment Corp ET AL bought a new position in shares of NN during the second quarter valued at about $298,000. 91.27% of the stock is owned by hedge funds and other institutional investors.
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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