Steven T. Warshaw Sells 2,000 Shares of NN, Inc. (NNBR) Stock
NN, Inc. (NASDAQ:NNBR) Director Steven T. Warshaw sold 2,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $26.82, for a total transaction of $53,640.00. Following the completion of the transaction, the director now directly owns 58,732 shares in the company, valued at approximately $1,575,192.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
NN, Inc. (NNBR) traded up 3.35% on Friday, reaching $27.80. 252,597 shares of the company’s stock were exchanged. The stock’s market cap is $765.61 million. NN, Inc. has a one year low of $13.43 and a one year high of $31.65. The firm has a 50 day moving average of $26.01 and a 200-day moving average of $26.55.
NN (NASDAQ:NNBR) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.03. The business had revenue of $225.88 million for the quarter, compared to analysts’ expectations of $221.00 million. NN had a negative net margin of 0.77% and a positive return on equity of 14.58%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 earnings per share. Equities research analysts forecast that NN, Inc. will post $1.62 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.01%. NN’s dividend payout ratio is presently -116.67%.
NNBR has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of NN from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 9th. William Blair reaffirmed a “market perform” rating on shares of NN in a research note on Thursday, August 17th. ValuEngine raised shares of NN from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Stifel Nicolaus reissued a “hold” rating and set a $29.00 target price on shares of NN in a research report on Friday, August 4th. Finally, SunTrust Banks, Inc. assumed coverage on shares of NN in a research report on Thursday, June 15th. They set a “buy” rating and a $37.00 target price on the stock. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $30.25.
Several institutional investors and hedge funds have recently modified their holdings of NNBR. Nuveen Asset Management LLC lifted its position in shares of NN by 31.2% during the first quarter. Nuveen Asset Management LLC now owns 1,176,352 shares of the industrial products company’s stock worth $29,644,000 after purchasing an additional 279,795 shares in the last quarter. Daruma Capital Management LLC lifted its position in shares of NN by 144.6% during the second quarter. Daruma Capital Management LLC now owns 455,904 shares of the industrial products company’s stock worth $12,515,000 after purchasing an additional 269,507 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of NN by 6.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,288,095 shares of the industrial products company’s stock worth $57,659,000 after purchasing an additional 142,697 shares in the last quarter. Primecap Management Co. CA lifted its position in shares of NN by 8.7% during the first quarter. Primecap Management Co. CA now owns 1,705,000 shares of the industrial products company’s stock worth $42,966,000 after purchasing an additional 136,500 shares in the last quarter. Finally, Ameriprise Financial Inc. acquired a new stake in shares of NN during the second quarter worth about $3,548,000. 91.27% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for NN Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NN Inc. and related companies with MarketBeat.com's FREE daily email newsletter.