NN, Inc. (NNBR) Plans $0.07 Quarterly Dividend

NN, Inc. (NASDAQ:NNBR) declared a quarterly dividend on Monday, February 4th, Zacks reports. Investors of record on Friday, February 15th will be given a dividend of 0.07 per share by the industrial products company on Friday, March 1st. This represents a $0.28 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Thursday, February 14th.

NN has a dividend payout ratio of 19.0% meaning its dividend is sufficiently covered by earnings. Analysts expect NN to earn $1.39 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 20.1%.

NN stock opened at $10.26 on Wednesday. NN has a 52 week low of $5.55 and a 52 week high of $26.75. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.36 and a quick ratio of 1.53. The stock has a market cap of $389.88 million, a P/E ratio of 6.62 and a beta of 1.38.

In other NN news, Director Carey A. Smith purchased 5,000 shares of the company’s stock in a transaction dated Monday, December 24th. The stock was bought at an average cost of $5.80 per share, for a total transaction of $29,000.00. Following the completion of the transaction, the director now owns 11,331 shares in the company, valued at $65,719.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas C. Jr. Burwell purchased 7,000 shares of the company’s stock in a transaction dated Tuesday, December 18th. The stock was acquired at an average price of $6.13 per share, with a total value of $42,910.00. Following the completion of the transaction, the insider now owns 46,329 shares of the company’s stock, valued at approximately $283,996.77. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 20,565 shares of company stock valued at $128,420. 2.74% of the stock is owned by company insiders.

NNBR has been the subject of several research reports. JPMorgan Chase & Co. initiated coverage on shares of NN in a research report on Monday, January 7th. They set an “overweight” rating and a $15.00 price objective for the company. TheStreet downgraded shares of NN from a “c-” rating to a “d+” rating in a research report on Monday, December 3rd. KeyCorp dropped their price target on shares of NN from $28.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, November 9th. Finally, BidaskClub upgraded shares of NN from a “hold” rating to a “buy” rating in a research report on Thursday, February 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. NN presently has a consensus rating of “Hold” and a consensus price target of $21.50.

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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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Dividend History for NN (NASDAQ:NNBR)

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