NN, Inc. Announces Quarterly Dividend of $0.07 (NNBR)
NN, Inc. (NASDAQ:NNBR) announced a quarterly dividend on Monday, May 22nd. Shareholders of record on Friday, June 2nd will be paid a dividend of 0.07 per share by the industrial products company on Friday, June 16th. This represents a $0.28 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Wednesday, May 31st.
Shares of NN (NASDAQ:NNBR) traded up 0.18% during midday trading on Monday, reaching $27.55. 127,152 shares of the company’s stock were exchanged. The company has a market capitalization of $756.66 million, a PE ratio of 45.16 and a beta of 0.86. The firm has a 50-day moving average of $27.20 and a 200-day moving average of $21.40. NN has a 1-year low of $12.77 and a 1-year high of $31.65.
NN (NASDAQ:NNBR) last issued its earnings results on Thursday, May 4th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.05. NN had a positive return on equity of 11.50% and a negative net margin of 2.73%. The firm had revenue of $226.31 million for the quarter, compared to analysts’ expectations of $215.86 million. Equities analysts expect that NN will post $1.83 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. boosted its position in shares of NN by 23.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 133,392 shares of the industrial products company’s stock worth $3,362,000 after buying an additional 25,011 shares during the period. Geode Capital Management LLC boosted its position in shares of NN by 8.1% in the first quarter. Geode Capital Management LLC now owns 217,710 shares of the industrial products company’s stock worth $5,486,000 after buying an additional 16,404 shares during the period. Vanguard Group Inc. boosted its position in shares of NN by 7.7% in the first quarter. Vanguard Group Inc. now owns 1,081,836 shares of the industrial products company’s stock worth $27,262,000 after buying an additional 77,538 shares during the period. Finally, Teachers Advisors LLC boosted its position in shares of NN by 2.6% in the first quarter. Teachers Advisors LLC now owns 48,458 shares of the industrial products company’s stock worth $1,221,000 after buying an additional 1,247 shares during the period. Hedge funds and other institutional investors own 96.99% of the company’s stock.
Separately, Zacks Investment Research upgraded NN from a “sell” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Tuesday, March 7th.
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NN Company Profile
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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