Bank of New York Mellon Corp Buys New Position in NN, Inc. (NASDAQ:NNBR)

Bank of New York Mellon Corp purchased a new position in shares of NN, Inc. (NASDAQ:NNBR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 143,049 shares of the industrial products company's stock, valued at approximately $429,000. Bank of New York Mellon Corp owned 0.29% of NN as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of NN during the first quarter worth approximately $53,000. Fifth Lane Capital LP purchased a new stake in shares of NN in the 1st quarter valued at approximately $53,000. Cannon Global Investment Management LLC acquired a new stake in shares of NN in the 1st quarter valued at $85,000. Victory Capital Management Inc. purchased a new stake in shares of NN during the 4th quarter worth $140,000. Finally, Acadian Asset Management LLC grew its stake in shares of NN by 60.7% during the first quarter. Acadian Asset Management LLC now owns 103,342 shares of the industrial products company's stock worth $488,000 after purchasing an additional 39,022 shares in the last quarter. Hedge funds and other institutional investors own 53.92% of the company's stock.

NN Stock Up 0.3 %

NN stock traded up $0.01 during midday trading on Wednesday, reaching $3.76. The company's stock had a trading volume of 77,468 shares, compared to its average volume of 199,985. The business has a 50-day simple moving average of $3.68 and a 200-day simple moving average of $3.67. The company has a market cap of $188.19 million, a P/E ratio of -2.68 and a beta of 2.94. NN, Inc. has a fifty-two week low of $1.63 and a fifty-two week high of $5.40. The company has a quick ratio of 1.29, a current ratio of 2.04 and a debt-to-equity ratio of 1.39.

NN (NASDAQ:NNBR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.03. The firm had revenue of $122.99 million during the quarter, compared to the consensus estimate of $123.59 million. NN had a negative return on equity of 7.70% and a negative net margin of 8.38%. During the same period in the prior year, the company posted ($0.08) earnings per share. On average, research analysts expect that NN, Inc. will post -0.16 earnings per share 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.