NACCO Industries (NYSE:NC) Board Announces Stock Repurchase Plan

NACCO Industries (NYSE:NC) announced that its board has authorized a share buyback program on Tuesday, November 18th, RTT News reports. The company plans to buyback $20.00 million in shares. This buyback authorization permits the company to purchase up to 5.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NC. Wall Street Zen downgraded NACCO Industries from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings reissued a “hold (c)” rating on shares of NACCO Industries in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, NACCO Industries currently has a consensus rating of “Hold”.

NACCO Industries Stock Performance

NACCO Industries stock opened at $51.43 on Wednesday. NACCO Industries has a fifty-two week low of $27.47 and a fifty-two week high of $53.88. The stock’s 50 day simple moving average is $43.39 and its two-hundred day simple moving average is $40.05. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.90 and a current ratio of 3.91. The stock has a market cap of $383.70 million, a price-to-earnings ratio of 12.07 and a beta of 0.74.

NACCO Industries (NYSE:NC) last released its earnings results on Wednesday, November 5th. The company reported $1.78 EPS for the quarter. NACCO Industries had a return on equity of 7.72% and a net margin of 11.79%.The company had revenue of $76.61 million during the quarter.

NACCO Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.2525 per share. This represents a $1.01 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Tuesday, September 2nd. NACCO Industries’s payout ratio is 25.90%.

Insider Activity at NACCO Industries

In other news, SVP Elizabeth Loveman sold 1,897 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $49.94, for a total value of $94,736.18. Following the sale, the senior vice president directly owned 18,172 shares of the company’s stock, valued at $907,509.68. This represents a 9.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 8,102 shares of company stock worth $355,950. Insiders own 43.03% of the company’s stock.

About NACCO Industries

NACCO Industries, Inc, together with its subsidiaries, engages in the natural resources business. The company operates through three segments: Coal Mining, North American Mining, and Minerals Management. The Coal Mining segment operates surface coal mines under long-term contracts with power generation companies.