Woo Hoo, First 10-bagger!
Just a quick celebratory blog with a beer.
Over the past couple of days, NN, Inc (NNBR) has traded up around $12 per share. Fortunately, I bought most of my current shares at $1.14 back in Mar '09, well below my CAPS pick start, meaning, 1.14 into 12, one, zero, carry 60 ..., ten-bagger!
For anyone tracking yield-on-cost, the new 6 cent quarterly div is a 20% annual yoc on those buck-and-change shares.
Single digit PE, just restored the dividend, recovering auto and industrial equipment means demand for bearings. Looks like it may have room to run some more.
Not planning to add more, but happy to see if my little stack of shares will run further.