NACCO Industries (NYSE:NC) Share Price Passes Below 200-Day Moving Average – Here’s Why

NACCO Industries, Inc. (NYSE:NC)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $50.72 and traded as low as $46.26. NACCO Industries shares last traded at $46.52, with a volume of 25,755 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 report on Thursday, May 28th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

NACCO Industries Stock Down 1.7%

The company has a market cap of $350.76 million, a price-to-earnings ratio of 16.21 and a beta of 0.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.30 and a quick ratio of 2.35. The firm has a 50-day moving average price of $50.29 and a 200 day moving average price of $50.72.

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

NACCO Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.2625 dividend. This represents a $1.05 annualized dividend and a dividend yield of 2.3%. This is a boost from NACCO Industries’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, June 1st. NACCO Industries’s dividend payout ratio is currently 36.59%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Saber Capital Managment LLC acquired a new stake in NACCO Industries during the fourth quarter worth approximately $1,121,000. Strs Ohio bought a new stake in shares of NACCO Industries during the 4th quarter valued at $505,000. PNC Financial Services Group Inc. grew its holdings in shares of NACCO Industries by 1.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 47,809 shares of the company’s stock worth $2,345,000 after purchasing an additional 785 shares in the last quarter. Apeiron RIA LLC bought a new position in shares of NACCO Industries in the fourth quarter worth $223,000. Finally, Byrne Asset Management LLC raised its stake in NACCO Industries by 120.7% in the fourth quarter. Byrne Asset Management LLC now owns 3,200 shares of the company’s stock valued at $157,000 after purchasing an additional 1,750 shares in the last quarter. Institutional investors and hedge funds own 49.10% of the company’s stock.

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.