Zacks Investment Research downgraded shares of NN (NASDAQ:NNBR) from a buy rating to a hold rating in a research note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “NN, Inc. is an independent manufacturer and supplier of high quality, precision steel balls and rollers to both domestic and international anti-friction bearing manufacturers. Precision steel balls and rollers are critical moving parts of anti-friction bearings used in a wide variety of automotive, industrial and other applications. NN also manufacturers a full line of precision injection molded components serving the bearing, automotive, instrumentation, fiber optic and consumer hardware markets. (PRESS RELEASE) “

Several other equities research analysts have also commented on NNBR. ValuEngine raised shares of United States Steel from a strong sell rating to a sell rating in a research report on Wednesday. BidaskClub lowered shares of Xperi from a sell rating to a strong sell rating in a research report on Wednesday, June 19th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $17.46.

NASDAQ:NNBR traded down $0.01 during mid-day trading on Friday, reaching $8.41. The company’s stock had a trading volume of 108,627 shares, compared to its average volume of 204,863. NN has a 12-month low of $5.55 and a 12-month high of $22.15. The firm’s fifty day simple moving average is $8.64. The company has a current ratio of 1.90, a quick ratio of 1.12 and a debt-to-equity ratio of 2.26. The stock has a market capitalization of $356.31 million, a PE ratio of 7.65 and a beta of 1.56.

NN (NASDAQ:NNBR) last released its quarterly earnings results on Thursday, May 9th. The industrial products company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.04. NN had a negative net margin of 34.01% and a positive return on equity of 7.79%. The firm had revenue of $213.26 million during the quarter, compared to analyst estimates of $209.86 million. On average, sell-side analysts anticipate that NN will post 1.16 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 21st were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Thursday, June 20th. NN’s payout ratio is currently 23.93%.

In other news, EVP James Robert Atkinson bought 3,000 shares of NN stock in a transaction that occurred on Wednesday, June 19th. The stock was bought at an average cost of $8.65 per share, with a total value of $25,950.00. Following the acquisition, the executive vice president now owns 21,550 shares of the company’s stock, valued at approximately $186,407.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Floyd bought 9,000 shares of NN stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average cost of $8.05 per share, with a total value of $72,450.00. Following the completion of the acquisition, the director now directly owns 23,660 shares in the company, valued at approximately $190,463. The disclosure for this purchase can be found here. 2.48% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in NN by 54.8% in the 4th quarter. BlackRock Inc. now owns 3,014,206 shares of the industrial products company’s stock worth $20,224,000 after acquiring an additional 1,067,418 shares in the last quarter. Private Management Group Inc. increased its holdings in NN by 0.5% in the 1st quarter. Private Management Group Inc. now owns 2,964,818 shares of the industrial products company’s stock worth $22,206,000 after acquiring an additional 15,262 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in NN by 11.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,593,354 shares of the industrial products company’s stock worth $17,401,000 after acquiring an additional 261,457 shares in the last quarter. Paradigm Capital Management Inc. NY increased its holdings in NN by 19.5% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 2,141,000 shares of the industrial products company’s stock worth $16,036,000 after acquiring an additional 349,729 shares in the last quarter. Finally, Smith Graham & Co. Investment Advisors LP increased its holdings in NN by 0.8% in the 1st quarter. Smith Graham & Co. Investment Advisors LP now owns 1,088,163 shares of the industrial products company’s stock worth $8,150,000 after acquiring an additional 8,126 shares in the last quarter. 99.37% of the stock is owned by institutional investors.

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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