Equities researchers at SunTrust Banks, Inc. began coverage on shares of NN, Inc. (NASDAQ:NNBR) in a report issued on Thursday, The Fly reports. The firm set a “buy” rating on the industrial products company’s stock. The analysts noted that the move was a valuation call.
Several other research firms have also recently weighed in on NNBR. ValuEngine raised NN from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. TheStreet raised NN from a “c+” rating to a “b” rating in a research report on Monday, June 5th. Finally, Zacks Investment Research raised NN from a “sell” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Tuesday, March 7th. Four research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus target price of $27.50.
NN (NNBR) opened at 27.95 on Thursday. NN has a 52-week low of $12.77 and a 52-week high of $31.65. The firm has a market capitalization of $767.65 million, a PE ratio of 45.82 and a beta of 0.80. The stock’s 50 day moving average is $28.60 and its 200-day moving average is $22.97.
NN (NASDAQ:NNBR) last posted its quarterly earnings data on Thursday, May 4th. The industrial products company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.05. NN had a return on equity of 14.04% and a net margin of 2.00%. The company had revenue of $226.31 million during the quarter, compared to analysts’ expectations of $215.86 million. Equities analysts expect that NN will post $1.84 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, June 2nd will be given a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $0.28 annualized dividend and a dividend yield of 1.00%. NN’s dividend payout ratio is 45.90%.
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Several large investors have recently bought and sold shares of NNBR. First Manhattan Co. boosted its stake in NN by 0.5% in the first quarter. First Manhattan Co. now owns 209,600 shares of the industrial products company’s stock valued at $3,825,000 after buying an additional 950 shares in the last quarter. Skylands Capital LLC raised its position in shares of NN by 4.5% in the first quarter. Skylands Capital LLC now owns 407,436 shares of the industrial products company’s stock worth $10,267,000 after buying an additional 17,536 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of NN during the first quarter worth approximately $162,000. Highbridge Capital Management LLC purchased a new position in shares of NN during the fourth quarter worth approximately $220,000. Finally, Teachers Advisors LLC raised its position in shares of NN by 13.5% in the fourth quarter. Teachers Advisors LLC now owns 47,211 shares of the industrial products company’s stock worth $899,000 after buying an additional 5,604 shares during the last quarter. 95.86% of the stock is owned by institutional investors.
NN, Inc is a diversified industrial company and a manufacturer of high precision bearing components, industrial plastic products and precision metal components to a range of markets on a global basis. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group.
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