NACCO Industries, Inc. (NYSE:NC) Sees Significant Increase in Short Interest

NACCO Industries, Inc. (NYSE:NC) saw a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 28,500 shares, a growth of 27.2% from the February 13th total of 22,400 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average trading volume of 10,400 shares, the days-to-cover ratio is currently 2.7 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its holdings in NACCO Industries by 232.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,225 shares of the company’s stock valued at $37,000 after purchasing an additional 857 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in NACCO Industries by 18.7% in the fourth quarter. Wells Fargo & Company MN now owns 2,503 shares of the company’s stock valued at $75,000 after purchasing an additional 394 shares during the last quarter. Bank of America Corp DE boosted its holdings in NACCO Industries by 21.7% in the fourth quarter. Bank of America Corp DE now owns 6,504 shares of the company’s stock valued at $194,000 after purchasing an additional 1,158 shares during the last quarter. Barclays PLC boosted its holdings in NACCO Industries by 365.4% in the third quarter. Barclays PLC now owns 7,004 shares of the company’s stock valued at $199,000 after purchasing an additional 5,499 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in NACCO Industries by 77.8% in the third quarter. JPMorgan Chase & Co. now owns 8,263 shares of the company’s stock valued at $234,000 after purchasing an additional 3,615 shares during the last quarter. Hedge funds and other institutional investors own 49.10% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded NACCO Industries from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th.

NACCO Industries Price Performance

Shares of NYSE NC opened at $33.61 on Wednesday. NACCO Industries has a 1-year low of $25.19 and a 1-year high of $34.74. The business has a 50-day moving average of $32.03 and a 200-day moving average of $30.10. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.76 and a quick ratio of 2.39. The company has a market capitalization of $249.77 million, a price-to-earnings ratio of -14.49 and a beta of 0.94.

NACCO Industries (NYSE:NC) last issued its earnings results on Wednesday, March 5th. The company reported $1.02 earnings per share for the quarter. NACCO Industries had a positive return on equity of 8.87% and a negative net margin of 7.94%. The company had revenue of $70.42 million during the quarter.

NACCO Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.2275 dividend. This represents a $0.91 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Monday, March 3rd. NACCO Industries’s payout ratio is 19.87%.

About NACCO Industries

NACCO Industries, Inc, together with its subsidiaries, engages in the natural resources business. The company operates through three segments: Coal Mining, North American Mining, and Minerals Management. The Coal Mining segment operates surface coal mines under long-term contracts with power generation companies.