NN (NNBR) Cut to Sell at BidaskClub
BidaskClub lowered shares of NN (NASDAQ:NNBR) from a hold rating to a sell rating in a research report released on Tuesday.
A number of other brokerages have also commented on NNBR. KeyCorp reaffirmed a buy rating and set a $36.00 price objective on shares of NN in a research report on Friday, October 20th. Zacks Investment Research raised shares of NN from a sell rating to a hold rating in a research note on Thursday, November 30th. ValuEngine cut shares of NN from a strong-buy rating to a buy rating in a research note on Friday, December 1st. Finally, William Blair reissued a market perform rating on shares of NN in a research note on Thursday, August 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $33.00.
Shares of NN (NASDAQ NNBR) traded up $0.50 on Tuesday, hitting $27.50. 200,180 shares of the stock were exchanged, compared to its average volume of 104,981. The firm has a market capitalization of $772.31, a price-to-earnings ratio of 16.67 and a beta of 0.63. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.16 and a quick ratio of 2.72. NN has a 1-year low of $17.70 and a 1-year high of $32.90.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a $0.07 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.02%. NN’s payout ratio is currently -30.77%.
In other NN news, insider Thomas C. Jr. Burwell sold 6,000 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $27.38, for a total transaction of $164,280.00. Following the sale, the insider now directly owns 37,881 shares of the company’s stock, valued at $1,037,181.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David Floyd acquired 1,865 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were purchased at an average cost of $26.98 per share, for a total transaction of $50,317.70. The disclosure for this purchase can be found here. In the last three months, insiders sold 11,000 shares of company stock worth $311,620. 2.80% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its stake in NN by 0.6% during the second quarter. The Manufacturers Life Insurance Company now owns 21,090 shares of the industrial products company’s stock worth $579,000 after buying an additional 126 shares during the last quarter. Teachers Advisors LLC grew its stake in NN by 1.5% during the second quarter. Teachers Advisors LLC now owns 49,164 shares of the industrial products company’s stock worth $1,350,000 after buying an additional 706 shares during the last quarter. AlphaOne Investment Services LLC grew its stake in NN by 1.1% during the second quarter. AlphaOne Investment Services LLC now owns 132,642 shares of the industrial products company’s stock worth $3,642,000 after buying an additional 1,400 shares during the last quarter. California Public Employees Retirement System grew its stake in NN by 2.2% during the second quarter. California Public Employees Retirement System now owns 82,800 shares of the industrial products company’s stock worth $2,273,000 after buying an additional 1,800 shares during the last quarter. Finally, Voya Investment Management LLC grew its stake in NN by 20.0% during the second quarter. Voya Investment Management LLC now owns 12,222 shares of the industrial products company’s stock worth $335,000 after buying an additional 2,037 shares during the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.
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NN Company Profile
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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