NN (NNBR) Issues Quarterly Earnings Results

NN (NASDAQ:NNBR) announced its quarterly earnings results on Wednesday. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.05), Fidelity Earnings reports. NN had a net margin of 1.38% and a return on equity of 7.02%.

Shares of NASDAQ NNBR opened at $7.93 on Friday. The company has a quick ratio of 1.53, a current ratio of 2.36 and a debt-to-equity ratio of 1.32. NN has a 52-week low of $5.55 and a 52-week high of $25.55. The company has a market capitalization of $384.41 million, a price-to-earnings ratio of 5.12 and a beta of 1.38.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 15th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend was Thursday, February 14th. NN’s dividend payout ratio (DPR) is currently 18.06%.

Several brokerages have issued reports on NNBR. BidaskClub cut shares of NN from a “hold” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research upgraded shares of NN from a “sell” rating to a “hold” rating in a research report on Thursday, February 21st. JPMorgan Chase & Co. began coverage on shares of NN in a research report on Monday, January 7th. They issued an “overweight” rating and a $15.00 price target for the company. Finally, TheStreet cut shares of NN from a “c-” rating to a “d+” rating in a research report on Monday, December 3rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $21.50.

In other news, insider Thomas C. Jr. Burwell acquired 7,000 shares of the firm’s stock in a transaction dated Tuesday, December 18th. The stock was bought at an average cost of $6.13 per share, for a total transaction of $42,910.00. Following the completion of the transaction, the insider now directly owns 46,329 shares in the company, valued at approximately $283,996.77. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carey A. Smith acquired 5,000 shares of the firm’s stock in a transaction dated Monday, December 24th. The shares were purchased at an average price of $5.80 per share, with a total value of $29,000.00. Following the completion of the transaction, the director now owns 11,331 shares of the company’s stock, valued at $65,719.80. The disclosure for this purchase can be found here. Corporate insiders own 2.74% of the company’s stock.

A hedge fund recently raised its stake in NN stock. Geode Capital Management LLC lifted its position in shares of NN, Inc. (NASDAQ:NNBR) by 33.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 460,507 shares of the industrial products company’s stock after buying an additional 115,157 shares during the quarter. Geode Capital Management LLC owned about 1.09% of NN worth $3,090,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 99.78% of the company’s stock.

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About NN

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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Earnings History for NN (NASDAQ:NNBR)

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