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) “
Several other analysts also recently issued reports on NNBR. ValuEngine raised shares of NN from a strong sell rating to a sell rating in a report on Wednesday, September 4th. BidaskClub raised shares of NN from a strong sell rating to a sell rating in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. NN currently has an average rating of Hold and a consensus price target of $13.44.
NN (NASDAQ:NNBR) last posted its quarterly earnings data on Thursday, August 8th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.02). The firm had revenue of $221.70 million for the quarter, compared to the consensus estimate of $217.95 million. NN had a positive return on equity of 8.04% and a negative net margin of 30.86%. NN’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share. Equities research analysts forecast that NN will post 1.06 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.99%. The ex-dividend date was Friday, September 6th. NN’s dividend payout ratio is currently 23.93%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its stake in NN by 41.4% during the 2nd quarter. Victory Capital Management Inc. now owns 203,500 shares of the industrial products company’s stock valued at $1,986,000 after purchasing an additional 59,600 shares during the last quarter. Primecap Management Co. CA raised its stake in NN by 0.9% during the 2nd quarter. Primecap Management Co. CA now owns 6,352,900 shares of the industrial products company’s stock valued at $62,004,000 after purchasing an additional 58,900 shares during the last quarter. Aperio Group LLC raised its stake in NN by 40.3% during the 2nd quarter. Aperio Group LLC now owns 32,329 shares of the industrial products company’s stock valued at $316,000 after purchasing an additional 9,281 shares during the last quarter. Bank of New York Mellon Corp raised its stake in NN by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 488,066 shares of the industrial products company’s stock valued at $4,764,000 after purchasing an additional 6,816 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new position in NN during the 2nd quarter valued at $833,000. 93.42% of the stock is owned by institutional investors and hedge funds.
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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