Long Position on NNBR @ $29.10 on 8/27/2014 (Momentum)

NN, Inc. (NNBR) manufactures and sells metal bearing, plastic and rubber, and precision metal components for bearing, automotive, and industrial parts manufacturers worldwide.

The company’s Metal Bearing Components segment manufactures and supplies precision steel balls that are used primarily by manufacturers of anti-friction bearings; steel rollers, including tapered rollers used in automotive gearbox applications, automotive wheel bearings, and various industrial applications; cylindrical rollers; and precision metal retainers for roller bearings that are used in various industrial applications.

Its Plastic and Rubber Components segment offers a range of precision bearing seals for use in the automotive, industrial, agricultural, and mining markets; precision plastic retainers for ball and roller bearings, which are used in various industrial applications; rubber seals; and precision plastic components, including automotive under-the-hood components, electronic instrument cases, and precision electronic connectors and lenses, as well as various other specialized industrial and consumer parts.

The company’s Precision Metal Components segment provides engineered shafts, mechanical components, fluid system components, and complex precision assembled and tested parts used in the automotive, HVAC, fluid power, and diesel engine markets. 

Shares have formed a bullish "flag" following the company's better than expected quarterly results. Higher share prices are expected for this stock. Note that the firm pays its quarterly dividend of 7 cents per share on September 3rd.

52-Week Trading Range: $13.69 - $30.94

Entry Point: $29.10

Stop Loss: $27.64

Target Price: $32.01

Updates

9/15/2014 9:55:50 AM

NNBR fell below our stop loss. Closed at $27.45.

Position closed on 9/15/2014 at price of $27.45 with a -5.67% loss in 19 days.

Back to Portfolio