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

NACCO Industries, Inc. (NYSE:NC) saw a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 10,600 shares, a decrease of 44.2% from the March 15th total of 19,000 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily trading volume, of 15,300 shares, the days-to-cover ratio is currently 0.7 days.

NACCO Industries Trading Down 0.3 %

Shares of NYSE:NC opened at $29.40 on Thursday. NACCO Industries has a fifty-two week low of $28.50 and a fifty-two week high of $38.66. The company has a quick ratio of 2.21, a current ratio of 3.31 and a debt-to-equity ratio of 0.06. The company has a market cap of $220.38 million, a PE ratio of -5.56 and a beta of 0.81. The company’s 50-day moving average price is $31.99 and its 200 day moving average price is $34.23.

NACCO Industries (NYSE:NC) last issued its quarterly earnings data on Wednesday, March 6th. The company reported $1.08 earnings per share (EPS) for the quarter. NACCO Industries had a positive return on equity of 2.97% and a negative net margin of 18.43%. The business had revenue of $56.76 million during the quarter.

NACCO Industries Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were paid a $0.2175 dividend. The ex-dividend date was Friday, March 1st. This represents a $0.87 annualized dividend and a dividend yield of 2.96%. NACCO Industries’s payout ratio is -16.45%.

Insider Activity

In related news, SVP Thomas A. Maxwell sold 866 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $29.64, for a total transaction of $25,668.24. Following the sale, the senior vice president now directly owns 8,834 shares of the company’s stock, valued at approximately $261,839.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 40.31% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NC. BNP Paribas Arbitrage SNC grew its position in NACCO Industries by 12.5% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 2,096 shares of the company’s stock valued at $99,000 after buying an additional 233 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of NACCO Industries by 34.0% in the first quarter. JPMorgan Chase & Co. now owns 1,005 shares of the company’s stock valued at $40,000 after acquiring an additional 255 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of NACCO Industries by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,185 shares of the company’s stock valued at $425,000 after acquiring an additional 314 shares during the period. State Street Corp raised its holdings in NACCO Industries by 1.8% during the first quarter. State Street Corp now owns 20,044 shares of the company’s stock worth $786,000 after purchasing an additional 354 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in NACCO Industries by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 54,699 shares of the company’s stock worth $1,918,000 after purchasing an additional 361 shares during the period. 49.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, TheStreet lowered NACCO Industries from a “b-” rating to a “c+” rating in a research report on Thursday, March 7th.

NACCO Industries Company Profile

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.