NACCO Industries (NYSE:NC) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of NACCO Industries (NYSE:NC) from a buy rating to a hold rating in a research note published on Saturday morning.

NACCO Industries Trading Down 2.3 %

NYSE NC opened at $33.87 on Friday. The business’s fifty day moving average is $32.45 and its 200-day moving average is $30.48. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.76 and a quick ratio of 2.39. NACCO Industries has a one year low of $25.19 and a one year high of $34.78. The stock has a market capitalization of $251.68 million, a price-to-earnings ratio of -14.60 and a beta of 0.95.

NACCO Industries (NYSE:NC) last posted 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 business had revenue of $70.42 million during the quarter.

NACCO Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.2275 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.91 dividend on an annualized basis and a dividend yield of 2.69%. NACCO Industries’s dividend payout ratio (DPR) is currently 19.87%.

Institutional Investors 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 232.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,225 shares of the company’s stock valued at $37,000 after buying an additional 857 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in NACCO Industries by 18.7% during 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 in the last quarter. Bank of America Corp DE boosted its stake in shares of NACCO Industries by 21.7% in the fourth quarter. Bank of America Corp DE now owns 6,504 shares of the company’s stock worth $194,000 after acquiring an additional 1,158 shares during the period. Barclays PLC raised its position in shares of NACCO Industries by 365.4% during the third quarter. Barclays PLC now owns 7,004 shares of the company’s stock valued at $199,000 after buying an additional 5,499 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in NACCO Industries by 77.8% during the third quarter. JPMorgan Chase & Co. now owns 8,263 shares of the company’s stock valued at $234,000 after buying an additional 3,615 shares during the last quarter. Hedge funds and other institutional investors own 49.10% of the company’s stock.

NACCO Industries Company Profile

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.