NACCO Industries, Inc. (NYSE:NC) Sees Large Growth in Short Interest

NACCO Industries, Inc. (NYSE:NC) was the target of a large increase in short interest in January. As of January 15th, there was short interest totaling 18,801 shares, an increase of 33.9% from the December 31st total of 14,036 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily volume of 9,155 shares, the days-to-cover ratio is presently 2.1 days. Based on an average daily volume of 9,155 shares, the days-to-cover ratio is presently 2.1 days. Approximately 0.4% of the shares of the stock are sold short.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Police & Firemen s Retirement System of New Jersey purchased a new position in NACCO Industries in the 2nd quarter worth approximately $41,000. Tower Research Capital LLC TRC grew its position in NACCO Industries by 362.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,583 shares of the company’s stock worth $70,000 after acquiring an additional 1,241 shares in the last quarter. Russell Investments Group Ltd. increased its stake in NACCO Industries by 1,788.9% in the third 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 during the last quarter. Byrne Asset Management LLC lifted its stake in NACCO Industries by 120.7% during the fourth quarter. Byrne Asset Management LLC now owns 3,200 shares of the company’s stock worth $157,000 after purchasing an additional 1,750 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of NACCO Industries by 51.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 4,565 shares of the company’s stock valued at $192,000 after purchasing an additional 1,553 shares during the last quarter. 49.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of NACCO Industries in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, NACCO Industries has a consensus rating of “Buy”.

NACCO Industries Stock Performance

Shares of NYSE NC traded up $0.78 during mid-day trading on Tuesday, reaching $54.63. 3,529 shares of the company’s stock were exchanged, compared to its average volume of 9,272. The firm has a 50-day moving average price of $48.14 and a two-hundred day moving average price of $43.90. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.06 and a quick ratio of 2.18. The firm has a market capitalization of $407.54 million, a price-to-earnings ratio of 14.01 and a beta of 0.48. NACCO Industries has a 52 week low of $30.00 and a 52 week high of $56.00.

NACCO Industries (NYSE:NC) last released its earnings results on Wednesday, November 5th. The company reported $1.78 earnings per share (EPS) for the quarter. The business had revenue of $76.61 million during the quarter. NACCO Industries had a return on equity of 7.01% and a net margin of 10.32%.

NACCO Industries declared that its Board of Directors has authorized a share repurchase program on Tuesday, November 18th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 5.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

NACCO Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a dividend of $0.2525 per share. This represents a $1.01 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Monday, December 1st. NACCO Industries’s payout ratio is 25.90%.

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.