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) “
NNBR has been the subject of several other research reports. ValuEngine cut shares of NN from a hold rating to a sell rating in a research note on Tuesday, July 30th. BidaskClub cut shares of NN from a sell rating to a strong sell rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $14.35.
NN (NASDAQ:NNBR) last announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02). NN had a negative net margin of 30.86% and a positive return on equity of 8.04%. The business had revenue of $221.70 million for the quarter, compared to analysts’ expectations of $217.95 million. During the same period in the prior year, the company posted $0.38 EPS. The firm’s revenue was up 12.9% on a year-over-year basis. On average, sell-side analysts forecast that NN will post 1.08 EPS for the current fiscal year.
In other news, EVP James Robert Atkinson purchased 3,000 shares of the company’s stock in a transaction dated Wednesday, June 19th. The stock was acquired at an average price of $8.65 per share, with a total value of $25,950.00. Following the purchase, the executive vice president now directly owns 21,550 shares in the company, valued at approximately $186,407.50. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director David Floyd purchased 9,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was purchased at an average cost of $8.05 per share, with a total value of $72,450.00. Following the purchase, the director now owns 23,660 shares in the company, valued at $190,463. The disclosure for this purchase can be found here. Corporate insiders own 2.48% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of NN during the 4th quarter worth approximately $3,108,000. Morgan Stanley boosted its position in shares of NN by 1,223.1% during the 2nd quarter. Morgan Stanley now owns 424,495 shares of the industrial products company’s stock worth $4,143,000 after purchasing an additional 392,411 shares during the period. Paradigm Capital Management Inc. NY boosted its position in shares of NN by 19.5% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 2,141,000 shares of the industrial products company’s stock worth $16,036,000 after purchasing an additional 349,729 shares during the period. Bank of New York Mellon Corp boosted its position in shares of NN by 195.2% during the 4th quarter. Bank of New York Mellon Corp now owns 464,152 shares of the industrial products company’s stock worth $3,114,000 after purchasing an additional 306,934 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of NN by 11.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,593,354 shares of the industrial products company’s stock worth $17,401,000 after purchasing an additional 261,457 shares during the period. 98.88% of the stock is 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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