NACCO Industries (NYSE:NC) Share Price Passes Above 50 Day Moving Average – Here’s Why

Shares of NACCO Industries, Inc. (NYSE:NC) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $47.60 and traded as high as $48.34. NACCO Industries shares last traded at $46.2430, with a volume of 17,382 shares.

Wall Street Analysts Forecast Growth

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

NACCO Industries Stock Performance

The company has a market cap of $344.97 million, a PE ratio of 11.86 and a beta of 0.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.18 and a current ratio of 3.06. The firm’s 50 day moving average is $47.60 and its 200-day moving average is $42.97.

NACCO Industries (NYSE:NC) last released its earnings results 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 net margin of 10.32% and a return on equity of 7.01%.

NACCO Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $0.2525 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.01 dividend on an annualized basis and a yield of 2.2%. NACCO Industries’s payout ratio is 25.90%.

NACCO Industries announced that its Board of Directors has initiated a stock buyback plan on Tuesday, November 18th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, SVP Elizabeth Loveman sold 1,897 shares of NACCO Industries stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $49.94, for a total transaction of $94,736.18. Following the transaction, the senior vice president owned 18,172 shares in the company, valued at $907,509.68. The trade was a 9.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 43.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On NACCO Industries

Several hedge funds and other institutional investors have recently bought and sold shares of NC. MetLife Investment Management LLC acquired a new position in NACCO Industries in the 1st quarter valued at about $83,000. Baird Financial Group Inc. purchased a new stake in shares of NACCO Industries during the 1st quarter valued at approximately $219,000. Empowered Funds LLC raised its position in shares of NACCO Industries by 6.9% during the 1st quarter. Empowered Funds LLC now owns 38,972 shares of the company’s stock valued at $1,315,000 after buying an additional 2,528 shares during the period. Mudita Advisors LLP acquired a new position in NACCO Industries in the first quarter valued at approximately $2,910,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in NACCO Industries by 4.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,853 shares of the company’s stock worth $880,000 after acquiring an additional 774 shares during the period. 49.10% of the stock is currently 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.