Insider Selling: NACCO Industries (NYSE:NC) SVP Sells 1,785 Shares of Stock

NACCO Industries, Inc. (NYSE:NC) SVP Thomas Maxwell sold 1,785 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $48.55, for a total value of $86,661.75. Following the sale, the senior vice president directly owned 5,944 shares in the company, valued at approximately $288,581.20. This represents a 23.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

NACCO Industries Stock Performance

Shares of NYSE NC traded up $2.40 during midday trading on Monday, hitting $51.31. The company’s stock had a trading volume of 26,424 shares, compared to its average volume of 11,541. 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, Inc. has a 1-year low of $30.00 and a 1-year high of $59.42. The firm’s fifty day moving average price is $51.51 and its 200-day moving average price is $46.77. The firm has a market cap of $382.77 million, a P/E ratio of 21.74 and a beta of 0.44.

NACCO Industries (NYSE:NC) last posted its earnings results on Wednesday, March 4th. The company reported ($0.52) EPS for the quarter. The company 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 initiated a stock buyback program on Tuesday, November 18th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the company to repurchase 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.

NACCO Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a $0.2525 dividend. The ex-dividend date is Monday, March 2nd. This represents a $1.01 annualized dividend and a yield of 2.0%. NACCO Industries’s dividend payout ratio is 42.80%.

Institutional Trading of NACCO Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in NC. Invesco Ltd. acquired a new position in NACCO Industries in the fourth quarter worth approximately $236,000. Millennium Management LLC grew its holdings in shares of NACCO Industries by 85.3% in the 4th quarter. Millennium Management LLC now owns 11,851 shares of the company’s stock worth $581,000 after acquiring an additional 5,457 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of NACCO Industries during the fourth quarter worth $225,000. Kovack Advisors Inc. purchased a new stake in shares of NACCO Industries during the fourth quarter valued at $204,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of NACCO Industries by 943.2% during the fourth quarter. Russell Investments Group Ltd. now owns 21,281 shares of the company’s stock valued at $1,044,000 after purchasing an additional 19,241 shares during the last quarter. 49.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered NACCO Industries from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

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.