NACCO Industries, Inc. (NYSE:NC) Sees Significant Drop in Short Interest

NACCO Industries, Inc. (NYSE:NC) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totaling 24,915 shares, a drop of 20.3% from the March 31st total of 31,272 shares. Approximately 0.6% of the company’s shares are sold short. Based on an average trading volume of 9,899 shares, the short-interest ratio is currently 2.5 days.

NACCO Industries Trading Up 0.1%

NYSE NC traded up $0.03 during mid-day trading on Friday, reaching $48.21. 4,128 shares of the stock were exchanged, compared to its average volume of 8,605. NACCO Industries has a one year low of $32.16 and a one year high of $59.42. The stock has a 50 day simple moving average of $51.58 and a 200-day simple moving average of $49.37. The stock has a market cap of $363.27 million, a P/E ratio of 20.43 and a beta of 0.43. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.09 and a quick ratio of 2.17.

NACCO Industries (NYSE:NC) last announced its earnings results on Wednesday, March 4th. The company reported ($0.52) earnings per share for the quarter. NACCO Industries had a return on equity of 4.19% and a net margin of 6.34%.The firm had revenue of $66.78 million for the quarter.

NACCO Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were paid a dividend of $0.2525 per share. This represents a $1.01 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Monday, March 2nd. NACCO Industries’s dividend payout ratio (DPR) is currently 42.80%.

Insider Buying and Selling at NACCO Industries

In other news, SVP Elizabeth Loveman sold 4,053 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $52.04, for a total transaction of $210,918.12. Following the completion of the transaction, the senior vice president owned 16,661 shares of the company’s stock, valued at approximately $867,038.44. This trade represents a 19.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Thomas A. Maxwell sold 1,785 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $48.55, for a total transaction of $86,661.75. Following the transaction, the senior vice president directly owned 5,944 shares of the company’s stock, valued at $288,581.20. The trade was a 23.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 7,500 shares of company stock valued at $383,073 in the last ninety days. Insiders own 44.76% of the company’s stock.

Hedge Funds Weigh In On NACCO Industries

A number of hedge funds have recently bought and sold shares of NC. Baird Financial Group Inc. bought a new position in NACCO Industries during the first quarter worth $219,000. Empowered Funds LLC raised its stake in NACCO Industries by 6.9% during the first quarter. Empowered Funds LLC now owns 38,972 shares of the company’s stock worth $1,315,000 after buying an additional 2,528 shares during the last quarter. Rhumbline Advisers grew its holdings in NACCO Industries by 16.6% in the second quarter. Rhumbline Advisers now owns 7,455 shares of the company’s stock worth $330,000 after purchasing an additional 1,062 shares during the period. Bridgeway Capital Management LLC grew its holdings in NACCO Industries by 5.7% in the second quarter. Bridgeway Capital Management LLC now owns 75,237 shares of the company’s stock worth $3,334,000 after purchasing an additional 4,050 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in NACCO Industries by 362.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,583 shares of the company’s stock worth $70,000 after purchasing an additional 1,241 shares during the period. Institutional investors own 49.10% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of NACCO Industries from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, NACCO Industries presently has an average rating of “Hold”.

About NACCO Industries

NACCO Industries, Inc is a Cleveland, Ohio–based diversified holding company with a history spanning more than a century. Through its principal subsidiaries, the company operates in two primary business areas: coal mining and material-handling system design and manufacturing. Originally incorporated in 1913, NACCO has maintained a presence on the New York Stock Exchange under the ticker symbol NC since the 1920s, evolving its portfolio to meet changing market demands while preserving its core expertise in bulk commodities and industrial services.

The North American Coal Corporation, NACCO’s coal mining segment, is among the largest producers of lignite coal in the United States.