Other research analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of NN from a hold rating to a buy rating in a report on Friday, June 2nd. Zacks Investment Research upgraded shares of NN from a sell rating to a buy rating and set a $25.00 target price for the company in a report on Tuesday, March 7th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $23.33.
NN (NASDAQ:NNBR) traded down 1.91% on Monday, hitting $28.25. 115,017 shares of the company’s stock were exchanged. NN has a 12-month low of $12.77 and a 12-month high of $31.65. The company’s 50-day moving average price is $28.20 and its 200-day moving average price is $22.54. The company has a market cap of $775.89 million, a PE ratio of 46.31 and a beta of 0.86.
NN (NASDAQ:NNBR) last issued its earnings results on Thursday, May 4th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.05. NN had a negative net margin of 2.73% and a positive return on equity of 11.50%. The business had revenue of $226.31 million during the quarter, compared to analysts’ expectations of $215.86 million. Analysts forecast that NN will post $1.83 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, June 2nd will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Wednesday, May 31st. NN’s payout ratio is -33.33%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. boosted its position in shares of NN by 10.3% in the first quarter. Envestnet Asset Management Inc. now owns 5,667 shares of the industrial products company’s stock valued at $143,000 after buying an additional 530 shares during the last quarter. Bank of Montreal Can bought a new position in shares of NN during the first quarter valued at about $162,000. Highbridge Capital Management LLC bought a new position in shares of NN during the fourth quarter valued at about $220,000. US Bancorp DE boosted its position in shares of NN by 4.5% in the first quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock valued at $265,000 after buying an additional 457 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of NN by 6.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,698 shares of the industrial products company’s stock valued at $356,000 after buying an additional 1,127 shares during the last quarter. Institutional investors and hedge funds own 96.99% of the company’s stock.
NN, Inc is a diversified industrial company and a manufacturer of high precision bearing components, industrial plastic products and precision metal components to a range of markets on a global basis. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group.
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