NACCO Industries (NYSE:NC) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

NACCO Industries, Inc. (NYSE:NC)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $50.59 and traded as low as $46.50. NACCO Industries shares last traded at $46.9120, with a volume of 10,728 shares.

Analyst Upgrades and Downgrades

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

NACCO Industries Stock Down 0.7%

The company has a quick ratio of 2.35, a current ratio of 3.30 and a debt-to-equity ratio of 0.27. The firm has a market cap of $353.72 million, a P/E ratio of 16.35 and a beta of 0.44. The stock’s 50-day simple moving average is $49.70 and its 200 day simple moving average is $50.59.

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

NACCO Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.2625 per share. This is an increase from NACCO Industries’s previous quarterly dividend of $0.25. This represents a $1.05 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Monday, June 1st. NACCO Industries’s payout ratio is 36.59%.

Hedge Funds Weigh In On NACCO Industries

Several institutional investors have recently added to or reduced their stakes in NC. Tower Research Capital LLC TRC boosted its holdings in shares of NACCO Industries by 362.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,583 shares of the company’s stock worth $70,000 after buying an additional 1,241 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of NACCO Industries by 1,788.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,040 shares of the company’s stock valued at $86,000 after acquiring an additional 1,932 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of NACCO Industries during the 4th quarter valued at $122,000. Kovack Advisors Inc. acquired a new position in shares of NACCO Industries during the 4th quarter valued at $204,000. Finally, Baird Financial Group Inc. bought a new position in NACCO Industries during the first quarter worth $219,000. 49.10% of the stock is owned by institutional investors and hedge funds.

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.