NN, Inc. $NNBR Shares Acquired by Paradigm Capital Management Inc. NY

Key Points

• Paradigm Capital Management Inc. NY increased its holdings in NN, Inc. by 22.5%, acquiring an additional 418,100 shares, bringing its total ownership to 4.51% of the company.
• Several large investors, including JPMorgan Chase and Wells Fargo, significantly boosted their stakes in NN, indicating strong institutional interest in the stock.
• Analysts have a consensus rating of "Strong Buy" for NN, Inc., with a price target of $4.00, following a quarterly earnings report that exceeded expectations.

Paradigm Capital Management Inc. NY lifted its position in NN, Inc. (NASDAQ:NNBR - Free Report) by 22.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,274,300 shares of the industrial products company's stock after acquiring an additional 418,100 shares during the quarter. Paradigm Capital Management Inc. NY owned 4.51% of NN worth $5,140,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NNBR. JPMorgan Chase & Co. lifted its holdings in shares of NN by 343.8% in the 4th quarter. JPMorgan Chase & Co. now owns 89,265 shares of the industrial products company's stock worth $292,000 after acquiring an additional 69,149 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of NN by 29.2% in the 4th quarter. Wells Fargo & Company MN now owns 27,306 shares of the industrial products company's stock worth $89,000 after acquiring an additional 6,165 shares during the last quarter. Barclays PLC lifted its holdings in shares of NN by 15.3% in the 4th quarter. Barclays PLC now owns 69,973 shares of the industrial products company's stock worth $229,000 after acquiring an additional 9,289 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of NN by 15.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 783,033 shares of the industrial products company's stock worth $2,561,000 after acquiring an additional 106,518 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in NN by 209.9% during the 4th quarter. MetLife Investment Management LLC now owns 27,181 shares of the industrial products company's stock valued at $89,000 after buying an additional 18,410 shares in the last quarter. Institutional investors own 53.92% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NNBR shares. Wall Street Zen upgraded shares of NN from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. B. Riley started coverage on shares of NN in a report on Thursday, July 31st. They set a "buy" rating and a $4.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, NN has a consensus rating of "Strong Buy" and an average price target of $4.00.

NN Stock Down 3.6%

NASDAQ NNBR traded down $0.10 during trading on Friday, reaching $2.52. 53,127 shares of the company's stock traded hands, compared to its average volume of 373,560. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.93 and a quick ratio of 1.22. The firm has a market cap of $126.88 million, a price-to-earnings ratio of -2.23 and a beta of 2.17. The company's 50 day simple moving average is $2.23 and its two-hundred day simple moving average is $2.22. NN, Inc. has a 12-month low of $1.58 and a 12-month high of $4.67.

NN (NASDAQ:NNBR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.03. NN had a negative net margin of 8.84% and a negative return on equity of 5.29%. The firm had revenue of $107.92 million for the quarter, compared to the consensus estimate of $110.45 million. As a group, sell-side analysts forecast that NN, Inc. will post -0.2 EPS for the current fiscal year.

NN Company Profile

NN, Inc, together with its subsidiaries, designs, manufactures, and sells high-precision components and assemblies for various end markets in the United States and internationally. It operates through two segments, Mobile Solutions and Power Solutions. The Mobile Solutions segment manufactures and sells system critical components for automotive, general industrial, and medical end markets for use in power steering, braking, transmissions, gasoline fuel system, diesel injection, and diesel emissions treatment applications, as well as in heating, ventilation, and air conditioning.