NACCO Industries, Inc. (NYSE:NC) Sees Large Increase in Short Interest

NACCO Industries, Inc. (NYSE:NC) was the target of a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 21,111 shares, a growth of 26.4% from the February 12th total of 16,698 shares. Based on an average daily trading volume, of 9,922 shares, the short-interest ratio is presently 2.1 days. Currently, 0.5% of the shares of the company are sold short. Currently, 0.5% of the shares of the company are sold short. Based on an average daily trading volume, of 9,922 shares, the short-interest ratio is presently 2.1 days.

Insider Buying and Selling

In related news, SVP Thomas A. Maxwell sold 1,785 shares of NACCO Industries stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $48.55, for a total value of $86,661.75. Following the transaction, the senior vice president owned 5,944 shares of the company’s stock, valued at approximately $288,581.20. This trade represents a 23.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Elizabeth Loveman sold 1,662 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $51.44, for a total transaction of $85,493.28. Following the sale, the senior vice president directly owned 14,999 shares of the company’s stock, valued at $771,548.56. This represents a 9.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,500 shares of company stock worth $383,073 over the last quarter. Insiders own 43.03% of the company’s stock.

Institutional Investors Weigh In On NACCO Industries

A number of hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC lifted its holdings in NACCO Industries by 10.6% during the 4th quarter. Barclays PLC now owns 6,406 shares of the company’s stock worth $314,000 after buying an additional 614 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of NACCO Industries by 12.3% during the third quarter. JPMorgan Chase & Co. now owns 6,563 shares of the company’s stock valued at $277,000 after acquiring an additional 718 shares during the period. PNC Financial Services Group Inc. boosted its holdings in NACCO Industries by 1.6% in the third quarter. PNC Financial Services Group Inc. now owns 47,024 shares of the company’s stock valued at $1,983,000 after acquiring an additional 759 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in NACCO Industries by 4.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,853 shares of the company’s stock worth $880,000 after purchasing an additional 774 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in NACCO Industries during the 2nd quarter worth about $41,000. Institutional investors own 49.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of NACCO Industries from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday, March 5th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

NACCO Industries Stock Performance

Shares of NYSE:NC traded down $0.92 on Tuesday, hitting $51.05. 1,617 shares of the company were exchanged, compared to its average volume of 11,892. The company’s 50 day moving average price is $51.92 and its two-hundred day moving average price is $47.34. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.17 and a current ratio of 3.09. NACCO Industries has a one year low of $30.00 and a one year high of $59.42. The firm has a market capitalization of $384.40 million, a price-to-earnings ratio of 21.63 and a beta of 0.44.

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

NACCO Industries declared that its Board of Directors has approved a stock repurchase program on Tuesday, November 18th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 5.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

NACCO Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a dividend of $0.2525 per share. This represents a $1.01 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Monday, March 2nd. NACCO Industries’s dividend payout ratio (DPR) is currently 42.80%.

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.