Bank of New York Mellon Corp Purchases Shares of 143,049 NN, Inc. (NASDAQ:NNBR)

Bank of New York Mellon Corp purchased a new stake in shares of NN, Inc. (NASDAQ:NNBR) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 143,049 shares of the industrial products company’s stock, valued at approximately $429,000.

Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in NN during the 1st quarter valued at $53,000. Fifth Lane Capital LP bought a new position in NN during the 1st quarter worth $53,000. Cannon Global Investment Management LLC bought a new position in NN during the 1st quarter worth $85,000. Victory Capital Management Inc. bought a new position in NN during the 4th quarter worth $140,000. Finally, Acadian Asset Management LLC increased its position in NN by 60.7% during the 1st quarter. Acadian Asset Management LLC now owns 103,342 shares of the industrial products company’s stock worth $488,000 after buying an additional 39,022 shares during the period. Institutional investors and hedge funds own 53.92% of the company’s stock.

NN Stock Up 2.7 %

NNBR stock opened at $3.75 on Wednesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.04 and a quick ratio of 1.29. The stock has a market capitalization of $187.52 million, a price-to-earnings ratio of -2.68 and a beta of 2.94. The business’s fifty day moving average price is $3.68 and its two-hundred day moving average price is $3.67. NN, Inc. has a fifty-two week low of $1.63 and a fifty-two week high of $5.40.

NN (NASDAQ:NNBR) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. NN had a negative return on equity of 7.70% and a negative net margin of 8.38%. The company had revenue of $122.99 million for the quarter, compared to analysts’ expectations of $123.59 million. During the same quarter last year, the business earned ($0.08) earnings per share. On average, equities analysts anticipate that NN, Inc. will post -0.16 earnings per share for the current year.

NN 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.