BidaskClub upgraded shares of NN (NASDAQ:NNBR) from a strong sell rating to a sell rating in a research note issued to investors on Wednesday.
Several other research firms have also recently issued reports on NNBR. Zacks Investment Research upgraded NN from a sell rating to a hold rating in a research report on Wednesday, January 24th. ValuEngine upgraded NN from a hold rating to a buy rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. NN presently has a consensus rating of Hold and a consensus target price of $32.50.
NN (NNBR) traded up $0.27 during trading hours on Wednesday, hitting $25.13. The company had a trading volume of 406,399 shares, compared to its average volume of 109,043. 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 12-month low of $21.85 and a 12-month high of $32.90. The stock has a market capitalization of $692.77, a PE ratio of 16.00 and a beta of 0.83.
The company also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Friday, February 16th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Thursday, February 15th. NN’s payout ratio is presently 20.90%.
A number of institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted 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 valued at $579,000 after buying an additional 126 shares during the last quarter. Voya Investment Management LLC boosted 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 valued at $335,000 after buying an additional 2,037 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in NN by 2.1% during the fourth quarter. Driehaus Capital Management LLC now owns 152,339 shares of the industrial products company’s stock valued at $4,205,000 after buying an additional 3,132 shares during the last quarter. Victory Capital Management Inc. boosted its stake in NN by 8.4% during the fourth quarter. Victory Capital Management Inc. now owns 45,350 shares of the industrial products company’s stock valued at $1,252,000 after buying an additional 3,522 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in NN by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 238,818 shares of the industrial products company’s stock valued at $6,591,000 after buying an additional 3,622 shares during the last quarter. 94.05% of the stock is owned by 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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