NN VP Sells $312,000 in Stock (NNBR)
NN (NASDAQ:NNBR) VP William C. Kelly, Jr. sold 12,000 shares of NN stock on the open market in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $26.00, for a total transaction of $312,000.00. Following the completion of the sale, the vice president now directly owns 29,399 shares in the company, valued at approximately $764,374. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on NNBR. Analysts at KeyCorp reiterated a “buy” rating on shares of NN in a research note on Tuesday, May 20th. They now have a $28.00 price target on the stock, up previously from $24.00. Separately, analysts at Singular Research raised their price target on shares of NN from $24.00 to $27.00 in a research note on Monday, May 12th. They now have a “buy” rating on the stock. Finally, analysts at Zacks upgraded shares of NN from a “neutral” rating to an “outperform” rating in a research note on Wednesday, March 19th. They now have a $22.50 price target on the stock.
Shares of NN (NASDAQ:NNBR) traded up 0.16% on Thursday, hitting $25.82. 126,535 shares of the company’s stock traded hands. NN has a 52-week low of $9.44 and a 52-week high of $26.04. The stock has a 50-day moving average of $22.65 and a 200-day moving average of $20.24. The company has a market cap of $458.3 million and a P/E ratio of 23.02.
NN (NASDAQ:NNBR) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.31 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.29 by $0.02. The company had revenue of $102.53 million for the quarter, compared to the consensus estimate of $101.30 million. During the same quarter last year, the company posted $0.21 earnings per share. NN’s revenue was up 9.3% compared to the same quarter last year. Analysts expect that NN will post $1.39 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Wednesday, June 4th.
NN, Inc (NASDAQ:NNBR) is a manufacturer of precision balls, cylindrical and tapered rollers, bearing retainers, plastic injection molded products, precision bearing seals and precision metal components.
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