NACCO Industries (NYSE:NC) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Shares of NACCO Industries, Inc. (NYSE:NC) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $43.42 and traded as high as $49.88. NACCO Industries shares last traded at $49.7650, with a volume of 5,588 shares trading hands.

Analysts Set New Price Targets

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

NACCO Industries Stock Performance

The stock has a 50-day moving average of $48.21 and a 200 day moving average of $43.42. The firm has a market capitalization of $371.25 million, a P/E ratio of 12.76 and a beta of 0.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.18 and a current ratio of 3.06.

NACCO Industries (NYSE:NC) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $1.78 EPS for the quarter. The company 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued 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 yield of 2.0%. NACCO Industries’s dividend payout ratio is currently 25.90%.

NACCO Industries announced that its board has authorized a stock repurchase plan on Tuesday, November 18th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 5.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at NACCO Industries

In other news, SVP Elizabeth Loveman sold 2,997 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $45.22, for a total transaction of $135,524.34. Following the transaction, the senior vice president directly owned 20,069 shares in the company, valued at approximately $907,520.18. This 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. Corporate insiders own 43.03% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Baird Financial Group Inc. bought a new position in NACCO Industries in the 1st quarter valued at $219,000. Empowered Funds LLC lifted its stake in shares of NACCO Industries by 6.9% during the first quarter. Empowered Funds LLC now owns 38,972 shares of the company’s stock valued at $1,315,000 after acquiring an additional 2,528 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings 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 valued at $880,000 after acquiring an additional 774 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in NACCO Industries in the second quarter worth about $41,000. Finally, Rhumbline Advisers increased its position in NACCO Industries by 16.6% in the second quarter. Rhumbline Advisers now owns 7,455 shares of the company’s stock worth $330,000 after purchasing an additional 1,062 shares during the period. 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.