NN, Inc. (NASDAQ:NNBR) insider Thomas C. Jr. Burwell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $32.00, for a total value of $64,000.00. Following the completion of the transaction, the insider now owns 35,381 shares in the company, valued at $1,132,192. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
NN, Inc. (NASDAQ:NNBR) opened at $26.25 on Friday. The firm has a market cap of $723.79, a P/E ratio of 16.20 and a beta of 0.68. The company has a quick ratio of 1.39, a current ratio of 2.23 and a debt-to-equity ratio of 2.67. NN, Inc. has a 12 month low of $16.00 and a 12 month high of $32.90.
NN (NASDAQ:NNBR) last released its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.29 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.29. The firm had revenue of $148.16 million for the quarter, compared to analyst estimates of $150.50 million. NN had a negative net margin of 1.76% and a positive return on equity of 13.95%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 EPS. sell-side analysts predict that NN, Inc. will post 1.58 earnings per share for the current fiscal year.
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Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in shares of NN by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,306,845 shares of the industrial products company’s stock worth $63,323,000 after purchasing an additional 18,750 shares in the last quarter. Jennison Associates LLC raised its holdings in NN by 8.8% during the third quarter. Jennison Associates LLC now owns 2,222,746 shares of the industrial products company’s stock worth $64,460,000 after purchasing an additional 179,578 shares in the last quarter. Royal Bank of Canada raised its holdings in NN by 3.2% during the second quarter. Royal Bank of Canada now owns 2,211,167 shares of the industrial products company’s stock worth $60,698,000 after purchasing an additional 69,123 shares in the last quarter. Vanguard Group Inc. raised its holdings in NN by 5.0% during the second quarter. Vanguard Group Inc. now owns 1,135,524 shares of the industrial products company’s stock worth $31,171,000 after purchasing an additional 53,688 shares in the last quarter. Finally, State Street Corp raised its holdings in NN by 4.8% during the second quarter. State Street Corp now owns 490,158 shares of the industrial products company’s stock worth $13,454,000 after purchasing an additional 22,530 shares in the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.
Several brokerages have issued reports on NNBR. KeyCorp reaffirmed a “buy” rating and set a $36.00 target price on shares of NN in a research report on Friday, October 20th. William Blair reiterated a “market perform” rating on shares of NN in a report on Thursday, August 31st. Zacks Investment Research lowered NN from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Stifel Nicolaus reaffirmed a “hold” rating and set a $29.00 price target on shares of NN in a research report on Friday, August 4th. Finally, BidaskClub downgraded NN from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Two equities 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 company. The stock has a consensus rating of “Hold” and a consensus target price of $33.00.
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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