NACCO Industries (NC) Board of Directors Initiates Stock Buyback Program

NACCO Industries (NYSE:NC) announced that its board has approved a stock buyback plan, which permits the company to buyback $25.00 million in shares on Wednesday, February 14th, EventVestor reports. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

NACCO Industries (NYSE NC) traded up $0.20 during mid-day trading on Thursday, hitting $38.20. 3,411 shares of the company’s stock traded hands, compared to its average volume of 33,189. The stock has a market capitalization of $263.23, a price-to-earnings ratio of 5.86 and a beta of 0.43. NACCO Industries has a 1-year low of $14.20 and a 1-year high of $48.85. The company has a current ratio of 3.80, a quick ratio of 3.09 and a debt-to-equity ratio of 0.28.

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About NACCO Industries

NACCO Industries, Inc is a holding company. The Company’s principal business includes mining. The Company operates through the NACoal segment. The Company’s subsidiary includes The North American Coal Corporation (NACoal). The Company’s NACoal segment mines coal for use in power generation and provides mining services for other natural resources companies.

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