Paradigm Capital Management Inc. NY Purchases Shares of 200,000 NN, Inc. $NNBR

Paradigm Capital Management Inc. NY bought a new stake in NN, Inc. (NASDAQ:NNBR) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 200,000 shares of the industrial products company’s stock, valued at approximately $718,000. Paradigm Capital Management Inc. NY owned approximately 0.38% of NN as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in NNBR. Algert Global LLC bought a new position in NN during the second quarter valued at about $351,000. Ranger Investment Management L.P. acquired a new stake in NN in the 2nd quarter valued at $2,040,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in NN in the 2nd quarter valued at about $145,000. De Lisle Partners LLP acquired a new position in NN during the 2nd quarter worth about $1,895,000. Finally, Nierenberg Investment Management Company LLC bought a new stake in NN in the 2nd quarter worth about $48,662,000. 53.92% of the stock is currently owned by institutional investors and hedge funds.

NN Trading Down 3.4%

Shares of NASDAQ NNBR opened at $3.65 on Tuesday. NN, Inc. has a 52-week low of $1.10 and a 52-week high of $4.48. The company has a quick ratio of 1.08, a current ratio of 1.79 and a debt-to-equity ratio of 7.70. The stock has a market capitalization of $301.42 million, a P/E ratio of -3.80 and a beta of 2.57. The stock’s 50 day moving average price is $3.43 and its two-hundred day moving average price is $2.51.

NN (NASDAQ:NNBR) last issued its quarterly 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 for 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, analysts anticipate that NN, Inc. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NN in a report on Friday, July 17th. B. Riley Financial downgraded shares of NN from a “buy” rating to a “neutral” rating in a research note on Monday, May 11th. Craig Hallum initiated coverage on NN in a research note on Monday, July 20th. They set a “buy” rating and a $7.00 price objective for the company. Lake Street Capital reiterated a “buy” rating and set a $7.00 price target on shares of NN in a report on Friday, August 7th. Finally, Zacks Research raised shares of NN from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.67.

NN Profile

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.