NACCO Industries (NYSE:NC) Share Price Passes Below 200 Day Moving Average – Here’s Why

NACCO Industries, Inc. (NYSE:NC)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $50.66 and traded as low as $47.30. NACCO Industries shares last traded at $48.0110, with a volume of 9,575 shares trading hands.

Wall Street Analysts Forecast Growth

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

NACCO Industries Trading Down 0.9%

The company has a 50 day moving average of $49.46 and a 200 day moving average of $50.67. The company has a current ratio of 3.30, a quick ratio of 2.35 and a debt-to-equity ratio of 0.27. The firm has a market cap of $356.97 million, a price-to-earnings ratio of 16.50 and a beta of 0.45.

NACCO Industries (NYSE:NC) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter. The company had revenue of $72.31 million for the quarter. NACCO Industries had a return on equity of 5.04% and a net margin of 7.84%.

NACCO Industries Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Byrne Asset Management LLC grew its position in NACCO Industries by 9.6% during the 2nd quarter. Byrne Asset Management LLC now owns 4,567 shares of the company’s stock worth $229,000 after acquiring an additional 400 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of NACCO Industries by 1.3% during the first quarter. PNC Financial Services Group Inc. now owns 48,413 shares of the company’s stock worth $2,516,000 after purchasing an additional 604 shares during the last quarter. Invesco Ltd. acquired a new stake in shares of NACCO Industries in the fourth quarter valued at $236,000. Millennium Management LLC raised its holdings in shares of NACCO Industries by 85.3% in the fourth quarter. Millennium Management LLC now owns 11,851 shares of the company’s stock valued at $581,000 after buying an additional 5,457 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new position in NACCO Industries during the 4th quarter worth about $225,000. 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.