Bank of America Corp DE Buys 14,002 Shares of NN, Inc. (NASDAQ:NNBR)

Bank of America Corp DE increased its stake in shares of NN, Inc. (NASDAQ:NNBR) by 53.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,124 shares of the industrial products company’s stock after acquiring an additional 14,002 shares during the quarter. Bank of America Corp DE owned approximately 0.08% of NN worth $131,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NNBR. Empowered Funds LLC boosted its stake in NN by 5.2% during the fourth quarter. Empowered Funds LLC now owns 189,061 shares of the industrial products company’s stock worth $618,000 after acquiring an additional 9,424 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of NN by 343.8% in the fourth quarter. JPMorgan Chase & Co. now owns 89,265 shares of the industrial products company’s stock valued at $292,000 after buying an additional 69,149 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of NN by 29.2% in the fourth quarter. Wells Fargo & Company MN now owns 27,306 shares of the industrial products company’s stock valued at $89,000 after buying an additional 6,165 shares in the last quarter. Barclays PLC lifted its stake in shares of NN by 15.3% in the fourth quarter. Barclays PLC now owns 69,973 shares of the industrial products company’s stock valued at $229,000 after buying an additional 9,289 shares in the last quarter. Finally, Gabelli Funds LLC bought a new position in shares of NN in the fourth quarter valued at $213,000. 53.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of NN from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd.

Insider Transactions at NN

In related news, CEO Harold C. Bevis bought 45,316 shares of the company’s stock in a transaction on Wednesday, May 14th. The stock was acquired at an average cost of $2.20 per share, for a total transaction of $99,695.20. Following the completion of the transaction, the chief executive officer now directly owns 1,463,150 shares in the company, valued at $3,218,930. This trade represents a 3.20% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Timothy M. French bought 44,784 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were bought at an average price of $2.08 per share, with a total value of $93,150.72. Following the completion of the transaction, the chief operating officer now owns 374,784 shares of the company’s stock, valued at $779,550.72. The trade was a 13.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 110,288 shares of company stock worth $233,662 over the last quarter. Corporate insiders own 7.94% of the company’s stock.

NN Stock Performance

Shares of NNBR stock opened at $1.99 on Tuesday. The firm has a 50-day moving average of $1.97 and a 200-day moving average of $2.66. The company has a market cap of $100.39 million, a P/E ratio of -1.83, a P/E/G ratio of 2.01 and a beta of 2.06. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.96 and a quick ratio of 1.18. NN, Inc. has a one year low of $1.58 and a one year high of $4.67.

NN (NASDAQ:NNBR) last posted its quarterly earnings data on Wednesday, May 7th. The industrial products company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $105.69 million during the quarter, compared to the consensus estimate of $111.96 million. NN had a negative net margin of 8.05% and a negative return on equity of 10.61%. Equities research analysts forecast that NN, Inc. will post -0.2 EPS for the current fiscal 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.