200,000 Shares in NN, Inc. $NNBR Bought by Paradigm Capital Management Inc. NY

Paradigm Capital Management Inc. NY bought a new position in shares of NN, Inc. (NASDAQ:NNBR) in the second quarter, HoldingsChannel reports. The institutional investor bought 200,000 shares of the industrial products company’s stock, valued at approximately $718,000.

Other hedge funds have also recently bought and sold shares of the company. First Manhattan CO. LLC. raised its position in shares of NN by 8.2% during the 4th quarter. First Manhattan CO. LLC. now owns 3,003,800 shares of the industrial products company’s stock valued at $3,845,000 after buying an additional 228,800 shares in the last quarter. Nomura Holdings Inc. increased its stake in NN by 0.6% in the 3rd quarter. Nomura Holdings Inc. now owns 2,969,632 shares of the industrial products company’s stock worth $6,117,000 after buying an additional 18,615 shares in the last quarter. Nantahala Capital Management LLC grew its position in shares of NN by 69.4% during the second quarter. Nantahala Capital Management LLC now owns 2,441,416 shares of the industrial products company’s stock valued at $5,127,000 after purchasing an additional 1,000,000 shares in the last quarter. RBF Capital LLC raised its position in shares of NN by 71.8% during the 1st quarter. RBF Capital LLC now owns 834,929 shares of the industrial products company’s stock valued at $1,211,000 after buying an additional 348,945 shares in the last quarter. Finally, BlackRock Inc. bought a new stake in shares of NN during the 2nd quarter worth approximately $2,743,000. 53.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on NNBR. Wall Street Zen lowered shares of NN from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. B. Riley Financial lowered NN from a “buy” rating to a “neutral” rating in a research report on Monday, May 11th. Zacks Research raised NN from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Craig Hallum initiated coverage on NN in a report on Monday, July 20th. They set a “buy” rating and a $7.00 price target on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NN in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, NN currently has an average rating of “Hold” and a consensus target price of $5.67.

NN Stock Performance

Shares of NNBR stock opened at $3.65 on Tuesday. The firm has a market capitalization of $301.42 million, a P/E ratio of -3.80 and a beta of 2.57. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.79 and a quick ratio of 1.08. NN, Inc. has a 12 month low of $1.10 and a 12 month high of $4.48. The company’s fifty day moving average price is $3.43 and its two-hundred day moving average price is $2.51.

NN (NASDAQ:NNBR) last posted its earnings results on Wednesday, August 5th. The industrial products company reported $0.11 EPS for the quarter. The company had revenue of $128.74 million during the quarter, compared to analyst estimates of $116.09 million. NN had a positive return on equity of 20.38% and a negative net margin of 6.21%. On average, research analysts anticipate that NN, Inc. will post 0.13 earnings per share for the current fiscal year.

About NN

NN, Inc (NASDAQ: NNBR) is a diversified industrial manufacturing company specializing in engineered metal components, powder metal parts and friction materials. Through its subsidiaries, the company develops and produces precision-rolled products for powertrain and chassis applications, engineered friction products for brake and transmission systems, and various metal powders used in automotive, industrial and energy markets. Its offerings span a wide range of component sizes and complexity, from thin‐gauge strips for hybrid and electric vehicle applications to high‐volume sintered parts for commercial and consumer products.

The company’s operations are organized into three business segments.