NACCO Industries (NYSE:NC) Shares Cross Below 200 Day Moving Average – Here’s Why

NACCO Industries, Inc. (NYSE:NC) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $50.59 and traded as low as $46.50. NACCO Industries shares last traded at $46.9120, with a volume of 10,728 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded NACCO Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

NACCO Industries Stock Down 0.7%

The stock has a market cap of $353.72 million, a P/E ratio of 16.35 and a beta of 0.44. The company has a current ratio of 3.30, a quick ratio of 2.35 and a debt-to-equity ratio of 0.27. The firm’s fifty day moving average is $49.70 and its 200 day moving average is $50.59.

NACCO Industries (NYSE:NC) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.17 earnings per share (EPS) for the quarter. The company had revenue of $62.77 million during the quarter. NACCO Industries had a net margin of 7.84% and a return on equity of 5.04%.

NACCO Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.2625 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.05 annualized dividend and a dividend yield of 2.2%. This is a boost from NACCO Industries’s previous quarterly dividend of $0.25. NACCO Industries’s payout ratio is presently 36.59%.

Institutional Trading of NACCO Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Saber Capital Managment LLC bought a new position in NACCO Industries in the 4th quarter worth approximately $1,121,000. Russell Investments Group Ltd. boosted its position in shares of NACCO Industries by 943.2% in the fourth quarter. Russell Investments Group Ltd. now owns 21,281 shares of the company’s stock valued at $1,044,000 after acquiring an additional 19,241 shares during the period. Ancora Advisors LLC acquired a new stake in shares of NACCO Industries in the third quarter worth $609,000. Strs Ohio acquired a new stake in shares of NACCO Industries in the fourth quarter worth $505,000. Finally, Goldman Sachs Group Inc. acquired a new position in NACCO Industries during the 4th quarter valued at $454,000. Institutional investors and hedge funds own 49.10% of the company’s stock.

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.