NN, Inc. (NNBR) Receives Average Rating of “Hold” from Brokerages
Shares of NN, Inc. (NASDAQ:NNBR) have been assigned an average rating of “Hold” from the nine brokerages that are covering the company, Marketbeat reports. 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. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $33.00.
NNBR has been the topic of a number of analyst reports. TheStreet upgraded NN from a “c+” rating to a “b” rating in a report on Monday, June 5th. KeyCorp reiterated a “buy” rating and set a $36.00 target price on shares of NN in a report on Sunday, September 17th. ValuEngine upgraded NN from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. SunTrust Banks, Inc. initiated coverage on NN in a 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. Finally, Zacks Investment Research cut NN from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 5th.
Shares of NN (NASDAQ:NNBR) traded up 1.62% during trading on Friday, reaching $28.25. The company had a trading volume of 71,432 shares. The firm’s market capitalization is $778.01 million. NN has a 12 month low of $13.43 and a 12 month high of $31.65. The firm’s 50 day moving average price is $26.01 and its 200 day moving average price is $26.78.
NN (NASDAQ:NNBR) last announced its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $225.88 million for the quarter, compared to analysts’ expectations of $221.00 million. NN had a positive return on equity of 14.58% and a negative net margin of 0.77%. NN’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 EPS. Equities analysts predict that NN will post $1.62 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Wednesday, August 30th. NN’s dividend payout ratio is presently -116.67%.
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In other NN news, insider Thomas C. Jr. Burwell sold 6,000 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $27.38, for a total transaction of $164,280.00. Following the transaction, the insider now owns 37,881 shares of the company’s stock, valued at approximately $1,037,181.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven T. Warshaw sold 2,000 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $26.82, for a total value of $53,640.00. Following the transaction, the director now directly owns 58,732 shares in the company, valued at approximately $1,575,192.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,000 shares of company stock worth $436,660. Corporate insiders own 2.80% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Nuveen Asset Management LLC lifted 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 purchasing an additional 279,795 shares during the period. Algert Global LLC purchased a new position in shares of NN during the 2nd quarter worth $2,173,000. Envestnet Asset Management Inc. lifted its stake in shares of NN by 10.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock worth $143,000 after purchasing an additional 530 shares during the period. US Bancorp DE lifted its stake in shares of NN by 4.5% during the 1st quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock worth $265,000 after purchasing an additional 457 shares during the period. Finally, Teachers Advisors LLC lifted its stake in shares of NN by 13.5% during the 4th quarter. Teachers Advisors LLC now owns 47,211 shares of the industrial products company’s stock worth $899,000 after purchasing an additional 5,604 shares during the period. 91.27% of the stock is currently 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.
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