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

NACCO Industries, Inc. (NYSE:NC) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 18,801 shares, an increase of 33.9% from the December 31st total of 14,036 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 9,155 shares, the days-to-cover ratio is currently 2.1 days. Based on an average daily trading volume, of 9,155 shares, the days-to-cover ratio is currently 2.1 days. Approximately 0.4% of the shares of the stock are short sold.

Insiders Place Their Bets

In other NACCO Industries news, SVP Elizabeth Loveman sold 2,997 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president owned 20,069 shares of the company’s stock, valued at approximately $907,520.18. This trade represents a 12.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 43.03% of the company’s stock.

Hedge Funds Weigh In On NACCO Industries

Several institutional investors and hedge funds have recently bought and sold shares of NC. Baird Financial Group Inc. acquired a new position in shares of NACCO Industries in the 1st quarter valued at $219,000. Empowered Funds LLC raised its position in shares of NACCO Industries by 6.9% in the 1st 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 period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of NACCO Industries by 4.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,853 shares of the company’s stock worth $880,000 after buying an additional 774 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new position in NACCO Industries in the second quarter valued at $41,000. Finally, Rhumbline Advisers grew its position in NACCO Industries by 16.6% during the second quarter. Rhumbline Advisers now owns 7,455 shares of the company’s stock valued at $330,000 after acquiring an additional 1,062 shares during the period. Institutional investors and hedge funds own 49.10% of the company’s stock.

NACCO Industries Trading Up 1.8%

Shares of NACCO Industries stock traded up $0.89 during trading hours on Friday, reaching $49.29. 6,666 shares of the company’s stock were exchanged, compared to its average volume of 8,404. NACCO Industries has a 52-week low of $30.00 and a 52-week high of $53.88. The company has a fifty day moving average of $48.03 and a 200-day moving average of $43.78. The company has a current ratio of 3.06, a quick ratio of 2.18 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $367.70 million, a price-to-earnings ratio of 12.64 and a beta of 0.50.

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

NACCO Industries declared that its Board of Directors has authorized a stock buyback program on Tuesday, November 18th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 5.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

NACCO Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a dividend of $0.2525 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.01 dividend on an annualized basis and a dividend yield of 2.0%. NACCO Industries’s dividend payout ratio is currently 25.90%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of NACCO Industries in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, NACCO Industries currently has an average rating of “Buy”.

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.