NN’s (NNBR) Buy Rating Reiterated at KeyCorp

KeyCorp reissued their buy rating on shares of NN, Inc. (NASDAQ:NNBR) in a research report released on Sunday morning. KeyCorp currently has a $36.00 price objective on the industrial products company’s stock.

NNBR has been the topic of a number of other reports. Zacks Investment Research cut shares of NN from a hold rating to a strong sell rating in a research note on Wednesday, August 9th. BidaskClub cut shares of NN from a hold rating to a sell rating in a research note on Thursday, July 27th. TheStreet raised shares of NN from a c+ rating to a b rating in a research note on Monday, June 5th. William Blair reaffirmed a market perform rating on shares of NN in a research note on Thursday, August 17th. Finally, SunTrust Banks, Inc. began coverage on shares of NN in a research note on Thursday, June 15th. They set a buy rating and a $37.00 price target on the stock. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $31.40.

NN (NASDAQ:NNBR) opened at 27.65 on Friday. NN has a 12-month low of $13.43 and a 12-month high of $31.65. The stock’s market capitalization is $761.48 million. The firm’s 50-day moving average is $26.01 and its 200 day moving average is $26.78.

NN (NASDAQ:NNBR) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. NN had a negative net margin of 0.77% and a positive return on equity of 14.58%. The business had revenue of $225.88 million for the quarter, compared to analysts’ expectations of $221.00 million. During the same period in the prior year, the company posted $0.46 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts expect that NN will post $1.62 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a $0.07 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.01%. NN’s payout ratio is -116.67%.

In related news, Director Steven T. Warshaw sold 2,000 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $26.82, for a total value of $53,640.00. Following the sale, the director now directly owns 58,732 shares of the company’s stock, valued at approximately $1,575,192.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Steven T. Warshaw sold 3,000 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $27.78, for a total transaction of $83,340.00. Following the completion of the sale, the director now directly owns 57,732 shares in the company, valued at $1,603,794.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,000 shares of company stock worth $436,660. 3.32% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of NNBR. Teachers Advisors LLC grew its stake in NN by 13.5% in the 4th quarter. Teachers Advisors LLC now owns 47,211 shares of the industrial products company’s stock valued at $899,000 after acquiring an additional 5,604 shares during the last quarter. Bank of Montreal Can acquired a new stake in NN in the 1st quarter valued at about $162,000. Wells Fargo & Company MN grew its stake in NN by 0.7% in the 1st quarter. Wells Fargo & Company MN now owns 25,214 shares of the industrial products company’s stock valued at $635,000 after acquiring an additional 176 shares during the last quarter. US Bancorp DE grew its stake in NN by 4.5% in the 1st quarter. US Bancorp DE now owns 10,522 shares of the industrial products company’s stock valued at $265,000 after acquiring an additional 457 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in NN by 7.6% in the 1st quarter. Bank of New York Mellon Corp now owns 187,462 shares of the industrial products company’s stock valued at $4,724,000 after acquiring an additional 13,276 shares during the last quarter. 91.27% of the stock is currently owned by hedge funds and other institutional investors.

About NN

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.

Analyst Recommendations for NN (NASDAQ:NNBR)

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