Zacks Investment Research lowered shares of NN (NASDAQ:NNBR) from a hold rating to a sell rating in a research report released on Tuesday morning.
According to Zacks, “NN, Inc. is an independent manufacturer and supplier of high quality, precision steel balls and rollers to both domestic and international anti-friction bearing manufacturers. Precision steel balls and rollers are critical moving parts of anti-friction bearings used in a wide variety of automotive, industrial and other applications. NN also manufacturers a full line of precision injection molded components serving the bearing, automotive, instrumentation, fiber optic and consumer hardware markets. (PRESS RELEASE) “
Several other equities research analysts also recently issued reports on NNBR. TheStreet downgraded NN from a c- rating to a d+ rating in a research note on Monday, December 3rd. BidaskClub raised NN from a sell rating to a hold rating in a research note on Wednesday, January 2nd. JPMorgan Chase & Co. began coverage on NN in a research note on Monday, January 7th. They set an overweight rating and a $15.00 price target for the company. Finally, Robert W. Baird cut their price target on NN from $11.00 to $9.00 and set a neutral rating for the company in a research note on Monday, March 18th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $20.17.
Shares of NN stock opened at $7.65 on Tuesday. The stock has a market capitalization of $329.25 million, a P/E ratio of 6.54 and a beta of 1.38. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.05 and a quick ratio of 1.53. NN has a 1 year low of $5.55 and a 1 year high of $25.25.
NN (NASDAQ:NNBR) last announced its quarterly earnings data on Wednesday, March 13th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.05). The business had revenue of $199.48 million during the quarter, compared to analysts’ expectations of $203.05 million. NN had a positive return on equity of 7.48% and a negative net margin of 34.32%. On average, research analysts forecast that NN will post 1.13 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 15th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend was Thursday, February 14th. NN’s dividend payout ratio (DPR) is presently 23.93%.
In other news, Director Carey A. Smith purchased 5,000 shares of the business’s stock in a transaction dated Monday, December 24th. The stock was bought at an average cost of $5.80 per share, with a total value of $29,000.00. Following the purchase, the director now directly owns 11,331 shares of the company’s stock, valued at $65,719.80. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.74% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of NNBR. Primecap Management Co. CA raised its stake in shares of NN by 63.9% in the 3rd quarter. Primecap Management Co. CA now owns 5,782,600 shares of the industrial products company’s stock valued at $90,209,000 after acquiring an additional 2,254,700 shares in the last quarter. Private Management Group Inc. raised its stake in shares of NN by 194.2% in the 4th quarter. Private Management Group Inc. now owns 2,949,556 shares of the industrial products company’s stock valued at $19,792,000 after acquiring an additional 1,946,913 shares in the last quarter. Jennison Associates LLC raised its stake in shares of NN by 57.1% in the 3rd quarter. Jennison Associates LLC now owns 3,457,297 shares of the industrial products company’s stock valued at $53,934,000 after acquiring an additional 1,256,116 shares in the last quarter. BlackRock Inc. raised its stake in shares of NN by 54.8% in the 4th quarter. BlackRock Inc. now owns 3,014,206 shares of the industrial products company’s stock valued at $20,224,000 after acquiring an additional 1,067,418 shares in the last quarter. Finally, RE Advisers Corp raised its stake in shares of NN by 77.8% in the 3rd quarter. RE Advisers Corp now owns 2,397,250 shares of the industrial products company’s stock valued at $37,397,000 after acquiring an additional 1,049,050 shares in the last quarter. 99.78% of the stock is currently owned by institutional investors and hedge funds.
NN, Inc, a diversified industrial company, designs and manufactures high-precision components and assemblies in the United States, Europe, Asia, Canada, Mexico, South America, and internationally. It operates through Autocam Precision Components Group and Precision Engineered Products Group segments.
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