Insider Selling: NN, Inc. (NNBR) Insider Sells 6,000 Shares of Stock
NN, Inc. (NASDAQ:NNBR) insider Thomas C. Jr. Burwell sold 6,000 shares of NN stock in a transaction on Monday, September 18th. The shares were sold at an average price of $27.38, for a total transaction of $164,280.00. Following the completion of the transaction, the insider now directly owns 37,881 shares in the company, valued at $1,037,181.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of NN, Inc. (NASDAQ:NNBR) traded down 0.18% during trading on Monday, reaching $27.75. 183,065 shares of the company’s stock traded hands. The company has a 50 day moving average of $26.01 and a 200-day moving average of $26.61. NN, Inc. has a 1-year low of $13.43 and a 1-year high of $31.65. The company’s market capitalization is $764.24 million.
NN (NASDAQ:NNBR) last announced its quarterly earnings data 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. NN had a negative return on equity of 27.00% and a negative net margin of 10.08%. The firm had revenue of $225.88 million for the quarter, compared to analysts’ expectations of $221.00 million. During the same period last year, the business posted $0.46 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts predict that NN, Inc. will post $1.62 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Wednesday, August 30th. NN’s payout ratio is -116.67%.
WARNING: “Insider Selling: NN, Inc. (NNBR) Insider Sells 6,000 Shares of Stock” was published by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States and international copyright laws. The original version of this piece can be accessed at https://www.americanbankingnews.com/2017/09/18/insider-selling-nn-inc-nnbr-insider-sells-6000-shares-of-stock.html.
A number of equities analysts have recently commented on NNBR shares. Zacks Investment Research cut shares of NN from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 5th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $29.00 target price on shares of NN in a report on Friday, August 4th. William Blair reaffirmed a “market perform” rating on shares of NN in a report on Thursday, August 31st. BidaskClub cut shares of NN from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Finally, ValuEngine raised shares of NN from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. NN presently has a consensus rating of “Hold” and a consensus price target of $31.40.
Hedge funds have recently bought and sold shares of the business. D.A. Davidson & CO. bought a new stake in NN in the second quarter valued at $139,000. Envestnet Asset Management Inc. lifted its stake in 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 buying an additional 530 shares during the last quarter. Bank of Montreal Can bought a new stake in NN in the first quarter valued at $162,000. US Bancorp DE lifted its stake in 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 buying an additional 457 shares during the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in NN in the second quarter valued at $298,000. Institutional investors own 91.27% of the company’s stock.
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.