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) “
Separately, William Blair reissued a market perform rating and set a $15.00 price objective (down previously from $18.00) on shares of NN in a research report on Friday, June 10th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. NN has a consensus rating of Hold and an average target price of $15.50.
Shares of NN (NASDAQ:NNBR) traded up 1.07% on Wednesday, hitting $19.90. The stock had a trading volume of 125,690 shares. The company has a 50 day moving average price of $17.93 and a 200-day moving average price of $16.15. The stock’s market cap is $539.79 million. NN has a 12 month low of $10.34 and a 12 month high of $20.11.
NN (NASDAQ:NNBR) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.46 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.46. NN had a negative net margin of 2.85% and a positive return on equity of 10.72%. The firm earned $214.30 million during the quarter, compared to the consensus estimate of $223.14 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, equities research analysts anticipate that NN will post $1.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Wednesday, August 31st. NN’s dividend payout ratio is currently -34.15%.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Group LTD increased its position in shares of NN by 64.7% in the second quarter. BlackRock Group LTD now owns 10,644 shares of the company’s stock valued at $149,000 after buying an additional 4,182 shares in the last quarter. American Financial Group Inc. bought a new stake in shares of NN during the second quarter valued at approximately $153,000. Alliancebernstein L.P. boosted its stake in shares of NN by 17.3% in the second quarter. Alliancebernstein L.P. now owns 14,900 shares of the company’s stock valued at $208,000 after buying an additional 2,200 shares during the last quarter. Emerald Mutual Fund Advisers Trust bought a new stake in shares of NN during the second quarter valued at approximately $220,000. Finally, Miles Capital Inc. bought a new stake in shares of NN during the second quarter valued at approximately $220,000. 98.44% of the stock is owned by institutional investors.
NN, Inc is a diversified industrial company. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group. Within its Precision Bearing Components Group, the Company manufactures and supplies high precision bearing components, consisting of balls, cylindrical rollers, tapered rollers, spherical rollers and metal retainers for bearing and constant velocity-joint manufacturers.
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