NACCO Industries, Inc. (NYSE:NC) Short Interest Down 46.5% in December

NACCO Industries, Inc. (NYSE:NC) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 14,036 shares, a drop of 46.5% from the December 15th total of 26,249 shares. Based on an average trading volume of 11,087 shares, the days-to-cover ratio is currently 1.3 days. Approximately 0.3% of the company’s shares are short sold. Approximately 0.3% of the company’s shares are short sold. Based on an average trading volume of 11,087 shares, the days-to-cover ratio is currently 1.3 days.

Analyst Upgrades and Downgrades

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

NACCO Industries Stock Down 0.5%

NC stock traded down $0.24 during midday trading on Friday, hitting $46.24. The company’s stock had a trading volume of 9,434 shares, compared to its average volume of 8,933. The firm has a 50-day simple moving average of $48.26 and a 200-day simple moving average of $43.27. The firm has a market capitalization of $344.91 million, a P/E ratio of 11.86 and a beta of 0.50. The company has a quick ratio of 2.18, a current ratio of 3.06 and a debt-to-equity ratio of 0.18. NACCO Industries has a 52-week low of $30.00 and a 52-week high of $53.88.

NACCO Industries (NYSE:NC) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $1.78 earnings per share for the quarter. The business 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 announced that its board has authorized a share buyback program on Tuesday, November 18th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 5.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

NACCO Industries Announces Dividend

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 $0.2525 dividend. This represents a $1.01 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Monday, December 1st. NACCO Industries’s dividend payout ratio (DPR) is presently 25.90%.

Insider Activity at NACCO Industries

In other news, SVP Elizabeth Loveman sold 2,997 shares of the business’s stock in a transaction dated 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 owned 20,069 shares of the company’s stock, valued at approximately $907,520.18. The trade was a 12.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 43.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC acquired a new stake in shares of NACCO Industries in the 2nd quarter valued at $1,318,000. M&T Bank Corp purchased a new stake in NACCO Industries in the second quarter valued at $953,000. Ancora Advisors LLC acquired a new position in NACCO Industries in the third quarter valued at $609,000. Baird Financial Group Inc. purchased a new position in shares of NACCO Industries during the first quarter worth about $219,000. Finally, Citadel Advisors LLC increased its position in shares of NACCO Industries by 88.4% during the third quarter. Citadel Advisors LLC now owns 13,174 shares of the company’s stock worth $555,000 after purchasing an additional 6,182 shares in the last quarter. Institutional investors and hedge funds 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.