NACCO Industries, Inc. (NYSE:NC) Shares Bought by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. increased its stake in NACCO Industries, acquiring 53,873 shares during the first quarter, resulting in a total ownership of approximately 0.94% of the company valued at $2.35 million.
• Multiple institutional investors have also increased their stakes in NACCO Industries recently, with JPMorgan Chase & Co. raising its stake by 97.6% in the fourth quarter.
• The company recently announced a quarterly dividend increase to $0.2525 per share, reflecting an annual dividend yield of 2.7%.

PNC Financial Services Group Inc. boosted its holdings in shares of NACCO Industries, Inc. (NYSE:NC - Free Report) by 343.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,556 shares of the company's stock after acquiring an additional 53,873 shares during the period. PNC Financial Services Group Inc. owned about 0.94% of NACCO Industries worth $2,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Trexquant Investment LP purchased a new position in shares of NACCO Industries in the 4th quarter valued at approximately $282,000. JPMorgan Chase & Co. raised its position in NACCO Industries by 97.6% during the 4th quarter. JPMorgan Chase & Co. now owns 16,325 shares of the company's stock worth $487,000 after buying an additional 8,062 shares during the last quarter. Bank of America Corp DE raised its position in NACCO Industries by 21.7% during the 4th quarter. Bank of America Corp DE now owns 6,504 shares of the company's stock worth $194,000 after buying an additional 1,158 shares during the last quarter. Tower Research Capital LLC TRC raised its position in NACCO Industries by 232.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,225 shares of the company's stock worth $37,000 after buying an additional 857 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in NACCO Industries by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 86,635 shares of the company's stock worth $2,584,000 after buying an additional 783 shares during the last quarter. 49.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of NACCO Industries from a "buy" rating to a "hold" rating in a research report on Saturday.

NACCO Industries Stock Performance

Shares of NYSE NC traded down $0.00 during midday trading on Wednesday, reaching $37.07. 858 shares of the stock were exchanged, compared to its average volume of 10,196. The firm has a market cap of $275.87 million, a price-to-earnings ratio of 8.69 and a beta of 0.70. NACCO Industries, Inc. has a twelve month low of $25.19 and a twelve month high of $45.50. The firm has a 50-day simple moving average of $39.43 and a two-hundred day simple moving average of $35.85. The company has a quick ratio of 2.90, a current ratio of 3.91 and a debt-to-equity ratio of 0.22.

NACCO Industries (NYSE:NC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.44 EPS for the quarter. The business had revenue of $68.24 million for the quarter. NACCO Industries had a net margin of 11.79% and a return on equity of 7.72%.

NACCO Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a dividend of $0.2525 per share. This represents a $1.01 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, May 30th. This is a positive change from NACCO Industries's previous quarterly dividend of $0.23. NACCO Industries's dividend payout ratio is 23.71%.

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.