NN Shares Down 2.5% After Insider Selling (NNBR)
NN (NASDAQ:NNBR) traded down 2.5% during mid-day trading on Friday after an insider sold shares in the company, Analyst Ratings Net reports. The stock traded as low as $25.01 and last traded at $25.18, with a volume of 82,535 shares traded. The stock had previously closed at $25.82.
Specifically, VP William C. Kelly, Jr. sold 12,000 shares of the 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
NNBR has been the subject of a number of recent research reports. 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.
The stock has a 50-day moving average of $22.84 and a 200-day moving average of $20.28. The company has a market cap of $447.8 million and a P/E ratio of 23.05.
NN (NASDAQ:NNBR) last announced its earnings results on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. On average, analysts predict that NN will post $1.39 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 20th. Investors of record on Friday, June 6th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.08%. The ex-dividend date 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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