NACCO Industries (NYSE:NC) Stock Price Passes Below Two Hundred Day Moving Average – Here’s Why

NACCO Industries, Inc. (NYSE:NC)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $50.80 and traded as low as $49.65. NACCO Industries shares last traded at $50.1770, with a volume of 11,164 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered NACCO Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

NACCO Industries Trading Up 0.2%

The business’s 50 day moving average price is $50.42 and its 200-day moving average price is $50.79. The company has a market cap of $366.95 million, a price-to-earnings ratio of 16.96 and a beta of 0.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.35 and a current ratio of 3.30.

NACCO Industries (NYSE:NC) last issued its earnings results on Tuesday, May 5th. The company reported $1.17 earnings per share for the quarter. The business had revenue of $62.77 million for the quarter. NACCO Industries had a net margin of 7.84% and a return on equity of 5.04%.

NACCO Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.2625 per share. The ex-dividend date of this dividend was Monday, June 1st. This is a positive change from NACCO Industries’s previous quarterly dividend of $0.25. This represents a $1.05 dividend on an annualized basis and a yield of 2.2%. NACCO Industries’s dividend payout ratio (DPR) is presently 36.59%.

Hedge Funds Weigh In On NACCO Industries

Hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its stake in NACCO Industries by 1.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 48,413 shares of the company’s stock valued at $2,516,000 after buying an additional 604 shares in the last quarter. Barclays PLC boosted its stake in shares of NACCO Industries by 10.6% in the 4th quarter. Barclays PLC now owns 6,406 shares of the company’s stock valued at $314,000 after purchasing an additional 614 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of NACCO Industries by 12.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,563 shares of the company’s stock valued at $277,000 after purchasing an additional 718 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of NACCO Industries by 16.6% in the 2nd 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 last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of NACCO Industries by 362.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,583 shares of the company’s stock worth $70,000 after purchasing an additional 1,241 shares during the last quarter. 49.10% of the stock is owned by institutional investors and hedge funds.

About NACCO Industries

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.