Several other equities analysts have also recently issued reports on NNBR. Zacks Investment Research cut NN from a hold rating to a sell rating in a research note on Tuesday, March 19th. Robert W. Baird cut their price target on NN from $11.00 to $9.00 and set a neutral rating on the stock in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $17.50.
Shares of NASDAQ NNBR traded down $0.03 during trading on Friday, reaching $9.73. 280,000 shares of the company traded hands, compared to its average volume of 363,213. The firm’s 50 day moving average price is $8.41. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.90 and a quick ratio of 1.12. The stock has a market capitalization of $413.50 million, a PE ratio of 8.32 and a beta of 1.56. NN has a 52-week low of $5.55 and a 52-week high of $22.15.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 21st were paid a $0.07 dividend. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.88%. NN’s dividend payout ratio (DPR) is presently 23.93%.
In other news, Director David Floyd bought 9,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were bought at an average cost of $8.05 per share, for a total transaction of $72,450.00. Following the completion of the transaction, the director now owns 23,660 shares in the company, valued at $190,463. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Robert Atkinson bought 3,000 shares of the firm’s stock in a transaction on Wednesday, June 19th. The shares were purchased at an average price of $8.65 per share, for a total transaction of $25,950.00. Following the completion of the transaction, the executive vice president now owns 21,550 shares of the company’s stock, valued at approximately $186,407.50. The disclosure for this purchase can be found here. 2.48% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc raised its holdings in shares of NN by 69.0% in the fourth quarter. Legal & General Group Plc now owns 7,303 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 2,981 shares during the last quarter. Quantamental Technologies LLC acquired a new position in shares of NN in the first quarter worth $55,000. BNP Paribas Arbitrage SA raised its holdings in shares of NN by 343.0% in the first quarter. BNP Paribas Arbitrage SA now owns 8,763 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 6,785 shares during the last quarter. Citigroup Inc. raised its holdings in shares of NN by 35.0% in the fourth quarter. Citigroup Inc. now owns 9,947 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 2,577 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its holdings in shares of NN by 445.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,687 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 8,729 shares during the last quarter. Institutional investors own 99.35% of the company’s stock.
NN Company Profile
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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