Steven T. Warshaw Sells 5,000 Shares of NN, Inc. (NNBR) Stock
NN, Inc. (NASDAQ:NNBR) Director Steven T. Warshaw sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $27.08, for a total value of $135,400.00. Following the transaction, the director now owns 58,732 shares in the company, valued at approximately $1,590,462.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
NN, Inc. (NNBR) traded up 3.35% during trading on Friday, reaching $27.80. The company’s stock had a trading volume of 252,597 shares. The stock’s market capitalization is $765.61 million. The firm has a 50 day moving average of $26.01 and a 200 day moving average of $26.55. NN, Inc. has a 52 week low of $13.43 and a 52 week high of $31.65.
NN (NASDAQ:NNBR) last announced its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 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 company had revenue of $225.88 million for the quarter, compared to analyst estimates of $221.00 million. During the same quarter last year, the business earned $0.46 earnings per share. NN’s revenue was up 5.4% compared to the same quarter last year. Analysts expect that NN, Inc. will post $1.62 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.01%. NN’s payout ratio is currently -116.67%.
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Several large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its stake in shares of NN by 0.6% in the second quarter. The Manufacturers Life Insurance Company now owns 21,090 shares of the industrial products company’s stock valued at $579,000 after purchasing an additional 126 shares during the period. Wells Fargo & Company MN increased its stake in shares of NN by 0.7% in the first quarter. Wells Fargo & Company MN now owns 25,214 shares of the industrial products company’s stock valued at $635,000 after purchasing an additional 176 shares during the period. US Bancorp DE increased its stake in shares of NN by 4.5% in the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock valued at $265,000 after purchasing an additional 457 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of NN by 10.3% in the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock valued at $143,000 after purchasing an additional 530 shares during the period. Finally, Teachers Advisors LLC increased its stake in shares of NN by 1.5% in the second quarter. Teachers Advisors LLC now owns 49,164 shares of the industrial products company’s stock valued at $1,350,000 after purchasing an additional 706 shares during the period. Institutional investors own 91.27% of the company’s stock.
NNBR has been the topic of several recent analyst reports. ValuEngine upgraded NN from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. TheStreet upgraded NN from a “c+” rating to a “b” rating in a research report on Monday, June 5th. SunTrust Banks, Inc. initiated coverage on 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. Zacks Investment Research cut NN from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, William Blair reiterated a “market perform” rating on shares of NN in a research report on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $30.25.
NN Company Profile
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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