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 the firm’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $27.78, for a total transaction of $83,340.00. Following the sale, the director now owns 57,732 shares of the company’s stock, valued at approximately $1,603,794.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of NN, Inc. (NASDAQ:NNBR) opened at 27.65 on Thursday. The company has a 50-day moving average of $26.01 and a 200 day moving average of $26.78. NN, Inc. has a 12-month low of $13.43 and a 12-month high of $31.65. The firm’s market cap is $761.48 million.
NN (NASDAQ:NNBR) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $225.88 million for the quarter, compared to the consensus estimate of $221.00 million. During the same period in the prior year, the firm posted $0.46 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that NN, Inc. will post $1.62 earnings per share for the current fiscal year.
The business also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.01%. NN’s dividend payout ratio (DPR) is -116.67%.
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Hedge funds and other institutional investors have recently bought and sold shares of the business. Nuveen Asset Management LLC boosted its stake in 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 valued at $29,644,000 after acquiring an additional 279,795 shares during the last quarter. Algert Global LLC bought a new position in NN during the 2nd quarter valued at $2,173,000. Envestnet Asset Management Inc. boosted its stake in NN by 10.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock valued at $143,000 after acquiring an additional 530 shares during the last quarter. US Bancorp DE boosted its stake in NN by 4.5% during the 1st quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock valued at $265,000 after acquiring an additional 457 shares during the last quarter. Finally, Teachers Advisors LLC boosted its stake in NN by 13.5% during the 4th quarter. Teachers Advisors LLC now owns 47,211 shares of the industrial products company’s stock valued at $899,000 after acquiring an additional 5,604 shares during the last quarter. Hedge funds and other institutional investors own 91.27% of the company’s stock.
Several research firms recently weighed in on NNBR. Zacks Investment Research downgraded shares of NN from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 9th. BidaskClub downgraded shares of NN from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. TheStreet upgraded shares of NN from a “c+” rating to a “b” rating in a report on Monday, June 5th. William Blair reiterated a “market perform” rating on shares of NN in a report on Thursday, August 17th. Finally, KeyCorp reiterated a “buy” rating and issued a $36.00 target price on shares of NN in a report on Sunday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.40.
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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