Steven T. Warshaw Sells 3,000 Shares of NN, Inc. (NNBR) Stock
NN, Inc. (NASDAQ:NNBR) Director Steven T. Warshaw sold 3,000 shares of NN stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $27.78, for a total transaction of $83,340.00. Following the completion of the sale, the director now owns 57,732 shares of the company’s stock, valued at $1,603,794.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of NN, Inc. (NNBR) traded down 0.18% during mid-day trading on Tuesday, hitting $27.70. 145,122 shares of the stock were exchanged. The company’s market capitalization is $762.86 million. The firm has a 50-day moving average price of $26.01 and a 200 day moving average price of $26.74. NN, Inc. has a 12-month low of $13.43 and a 12-month high of $31.65.
NN (NASDAQ:NNBR) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of $225.88 million during 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 period last year, the business earned $0.46 EPS. On average, equities research analysts expect that NN, Inc. will post $1.62 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.01%. NN’s dividend payout ratio is currently -116.67%.
COPYRIGHT VIOLATION WARNING: “Steven T. Warshaw Sells 3,000 Shares of NN, Inc. (NNBR) Stock” was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another site, it was copied illegally and republished in violation of international trademark & copyright law. The original version of this article can be accessed at https://www.americanbankingnews.com/2017/09/19/steven-t-warshaw-sells-3000-shares-of-nn-inc-nnbr-stock.html.
NNBR has been the subject of a number of analyst reports. SunTrust Banks, Inc. initiated coverage on shares of NN in a research note on Thursday, June 15th. They issued a “buy” rating and a $37.00 target price for the company. They noted that the move was a valuation call. Zacks Investment Research cut shares of NN from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. William Blair reiterated a “market perform” rating on shares of NN in a research note on Thursday, August 31st. BidaskClub cut shares of NN from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, ValuEngine upgraded shares of NN from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. NN currently has an average rating of “Hold” and a consensus price target of $31.40.
Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of NN by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,306,845 shares of the industrial products company’s stock worth $63,323,000 after acquiring an additional 18,750 shares in the last quarter. Royal Bank of Canada grew its stake in shares of NN by 3.2% during the 2nd quarter. Royal Bank of Canada now owns 2,211,167 shares of the industrial products company’s stock worth $60,698,000 after acquiring an additional 69,123 shares in the last quarter. Primecap Management Co. CA grew its stake in shares of NN by 8.7% during the 1st quarter. Primecap Management Co. CA now owns 1,705,000 shares of the industrial products company’s stock worth $42,966,000 after acquiring an additional 136,500 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of NN by 31.2% during the 1st quarter. Nuveen Asset Management LLC now owns 1,176,352 shares of the industrial products company’s stock worth $29,644,000 after acquiring an additional 279,795 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of NN by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,135,524 shares of the industrial products company’s stock worth $31,171,000 after acquiring an additional 53,688 shares in the last quarter. 91.27% of the stock is owned by institutional investors.
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.
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.