TheStreet Upgrades NN, Inc. (NNBR) to “B”

NN, Inc. (NASDAQ:NNBR) was upgraded by TheStreet from a “c+” rating to a “b” rating in a report issued on Monday.

Other equities analysts have also issued research reports about the company. ValuEngine upgraded NN from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded NN from a “sell” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Tuesday, March 7th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $23.33.

Shares of NN (NASDAQ:NNBR) traded down 2.26% during mid-day trading on Monday, hitting $28.15. 131,218 shares of the stock were exchanged. NN has a 12 month low of $12.77 and a 12 month high of $31.65. The stock’s 50 day moving average is $28.20 and its 200 day moving average is $22.54. The firm has a market cap of $773.14 million, a P/E ratio of 46.15 and a beta of 0.86.

NN (NASDAQ:NNBR) last announced its quarterly earnings results on Thursday, May 4th. The industrial products company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.42 by $0.05. The firm had revenue of $226.31 million for the quarter, compared to analyst estimates of $215.86 million. NN had a positive return on equity of 11.50% and a negative net margin of 2.73%. Analysts expect that NN will post $1.83 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, June 2nd will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Wednesday, May 31st. NN’s payout ratio is currently -33.33%.

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Large investors have recently modified their holdings of the stock. SG Capital Management LLC bought a new stake in shares of NN during the third quarter worth $1,084,000. Russell Investments Group Ltd. bought a new stake in shares of NN during the fourth quarter worth $1,194,000. State Street Corp increased its stake in shares of NN by 5.2% in the fourth quarter. State Street Corp now owns 534,187 shares of the industrial products company’s stock worth $10,174,000 after buying an additional 26,261 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of NN by 8.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,145,398 shares of the industrial products company’s stock worth $40,870,000 after buying an additional 175,151 shares during the last quarter. Finally, Redmond Asset Management LLC increased its stake in shares of NN by 0.7% in the fourth quarter. Redmond Asset Management LLC now owns 25,524 shares of the industrial products company’s stock worth $486,000 after buying an additional 184 shares during the last quarter. 96.99% of the stock is currently owned by institutional investors.

About NN

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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