Bank of Montreal Can Purchases New Stake in NN, Inc. $NNBR

Bank of Montreal Can acquired a new position in shares of NN, Inc. (NASDAQ:NNBR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 50,000 shares of the industrial products company’s stock, valued at approximately $105,000. Bank of Montreal Can owned 0.10% of NN at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Paradigm Capital Management Inc. NY lifted its stake in shares of NN by 22.5% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 2,274,300 shares of the industrial products company’s stock worth $5,140,000 after buying an additional 418,100 shares during the last quarter. De Lisle Partners LLP raised its holdings in NN by 21.5% in the 1st quarter. De Lisle Partners LLP now owns 410,228 shares of the industrial products company’s stock valued at $929,000 after acquiring an additional 72,633 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in NN during the second quarter worth approximately $343,000. Finally, Nuveen LLC bought a new stake in shares of NN during the first quarter worth approximately $140,000. 53.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of NN in a report on Wednesday, October 8th. B. Riley started coverage on NN in a report on Thursday, July 31st. They set a “buy” rating and a $4.00 target price for the company. Finally, Zacks Research raised shares of NN to a “hold” rating in a research report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.00.

NN Price Performance

Shares of NASDAQ NNBR opened at $1.25 on Friday. The business has a fifty day moving average price of $1.85 and a two-hundred day moving average price of $2.05. The stock has a market capitalization of $62.75 million, a PE ratio of -1.02 and a beta of 2.24. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.93 and a quick ratio of 1.22. NN, Inc. has a fifty-two week low of $1.20 and a fifty-two week high of $4.67.

NN (NASDAQ:NNBR) last issued its quarterly earnings results on Wednesday, June 12th. The industrial products company reported ($0.12) EPS for the quarter. NN had a negative return on equity of 1.95% and a negative net margin of 10.01%.The company had revenue of $127.09 million during the quarter. As a group, equities analysts predict that NN, Inc. will post -0.2 earnings per share for the current fiscal year.

About NN

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.