Zacks Investment Research lowered shares of NN (NASDAQ:NNBR) from a buy rating to a hold rating in a report published on Friday.
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) “
Other analysts also recently issued research reports about the stock. ValuEngine downgraded shares of NN from a strong-buy rating to a buy rating in a research report on Friday, December 1st. BidaskClub upgraded shares of NN from a sell rating to a hold rating in a research report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $32.50.
NN (NASDAQ:NNBR) last released its quarterly earnings results on Thursday, March 8th. The industrial products company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.01). NN had a net margin of 4.87% and a return on equity of 11.94%. The business had revenue of $156.14 million during the quarter, compared to analysts’ expectations of $154.67 million. During the same quarter last year, the company earned $0.21 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. equities analysts forecast that NN will post 1.8 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Friday, February 16th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.28 dividend on an annualized basis and a yield of 1.11%. NN’s payout ratio is currently 20.90%.
A number of institutional investors have recently made changes to their positions in NNBR. Jennison Associates LLC raised its position in NN by 8.8% during the 3rd quarter. Jennison Associates LLC now owns 2,222,746 shares of the industrial products company’s stock worth $64,460,000 after buying an additional 179,578 shares during the last quarter. Elk Creek Partners LLC raised its position in NN by 48.6% during the 3rd quarter. Elk Creek Partners LLC now owns 507,602 shares of the industrial products company’s stock worth $14,720,000 after buying an additional 166,092 shares during the last quarter. Vanguard Group Inc. raised its position in NN by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,135,524 shares of the industrial products company’s stock worth $31,171,000 after buying an additional 53,688 shares during the last quarter. Royce & Associates LP raised its position in NN by 5.4% during the 4th quarter. Royce & Associates LP now owns 1,039,893 shares of the industrial products company’s stock worth $28,701,000 after buying an additional 53,509 shares during the last quarter. Finally, Yorktown Management & Research Co Inc purchased a new position in NN during the 3rd quarter worth $919,000. Institutional investors own 95.81% of the company’s stock.
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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