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

NACCO Industries, Inc. (NYSE:NC) saw a significant decrease in short interest during the month of December. As of December 31st, there was short interest totaling 14,036 shares, a decrease of 46.5% from the December 15th total of 26,249 shares. Based on an average daily volume of 11,087 shares, the days-to-cover ratio is currently 1.3 days. Approximately 0.3% of the shares of the company are sold short. Approximately 0.3% of the shares of the company are sold short. Based on an average daily volume of 11,087 shares, the days-to-cover ratio is currently 1.3 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of NACCO Industries in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy”.

NACCO Industries Price Performance

Shares of NYSE NC traded up $0.42 during midday trading on Thursday, reaching $46.48. The company’s stock had a trading volume of 6,085 shares, compared to its average volume of 9,367. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.18 and a current ratio of 3.06. The company has a market cap of $346.70 million, a P/E ratio of 11.92 and a beta of 0.50. The business’s 50 day moving average price is $48.23 and its two-hundred day moving average price is $43.26. NACCO Industries has a fifty-two week low of $30.00 and a fifty-two week high of $53.88.

NACCO Industries (NYSE:NC) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $1.78 EPS for the quarter. The firm had revenue of $76.61 million for the quarter. NACCO Industries had a return on equity of 7.01% and a net margin of 10.32%.

NACCO Industries announced that its Board of Directors has authorized a share buyback plan on Tuesday, November 18th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 5.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

NACCO Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $0.2525 per share. This represents a $1.01 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Monday, December 1st. NACCO Industries’s dividend payout ratio is presently 25.90%.

Insider Activity at NACCO Industries

In other news, SVP Elizabeth Loveman sold 2,997 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $45.22, for a total transaction of $135,524.34. Following the transaction, the senior vice president owned 20,069 shares in the company, valued at approximately $907,520.18. This trade represents a 12.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 43.03% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Byrne Asset Management LLC grew its holdings in shares of NACCO Industries by 120.7% during the 4th quarter. Byrne Asset Management LLC now owns 3,200 shares of the company’s stock valued at $157,000 after purchasing an additional 1,750 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in NACCO Industries by 12.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,563 shares of the company’s stock worth $277,000 after purchasing an additional 718 shares in the last quarter. Citadel Advisors LLC raised its position in NACCO Industries by 88.4% in the third quarter. Citadel Advisors LLC now owns 13,174 shares of the company’s stock valued at $555,000 after purchasing an additional 6,182 shares during the last quarter. Ancora Advisors LLC acquired a new stake in shares of NACCO Industries during the third quarter valued at about $609,000. Finally, Bridgeway Capital Management LLC raised its holdings in NACCO Industries by 2.3% in the 3rd quarter. Bridgeway Capital Management LLC now owns 76,959 shares of the company’s stock valued at $3,245,000 after buying an additional 1,722 shares during the last quarter. Institutional investors own 49.10% of the company’s stock.

NACCO Industries Company Profile

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.