North American Construction Group Ltd. (NYSE:NOA) Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. lowered its holdings in shares of North American Construction Group Ltd. (NYSE:NOA - Free Report) TSE: NOA by 40.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,022,101 shares of the oil and gas company's stock after selling 687,767 shares during the period. Polar Asset Management Partners Inc. owned about 3.68% of North American Construction Group worth $22,015,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in North American Construction Group by 284.3% in the 4th quarter. Russell Investments Group Ltd. now owns 7,954 shares of the oil and gas company's stock valued at $171,000 after buying an additional 5,884 shares during the last quarter. Stephens Inc. AR bought a new stake in shares of North American Construction Group during the 4th quarter worth $204,000. Proficio Capital Partners LLC purchased a new position in shares of North American Construction Group in the 4th quarter worth about $269,000. D. E. Shaw & Co. Inc. bought a new position in North American Construction Group during the fourth quarter valued at about $295,000. Finally, Northwest & Ethical Investments L.P. raised its position in North American Construction Group by 122.0% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 14,612 shares of the oil and gas company's stock worth $314,000 after acquiring an additional 8,029 shares during the period. 74.99% of the stock is owned by institutional investors and hedge funds.

North American Construction Group Stock Performance

North American Construction Group stock traded down $0.27 during trading on Friday, reaching $17.12. The company had a trading volume of 20,512 shares, compared to its average volume of 70,337. The firm's 50-day simple moving average is $15.75 and its 200 day simple moving average is $18.17. North American Construction Group Ltd. has a 52 week low of $13.19 and a 52 week high of $22.08. The firm has a market capitalization of $523.70 million, a price-to-earnings ratio of 11.89 and a beta of 1.32. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 1.85.

North American Construction Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.086 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This is a boost from North American Construction Group's previous quarterly dividend of $0.08. This represents a $0.34 dividend on an annualized basis and a yield of 2.01%. North American Construction Group's dividend payout ratio is currently 32.67%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Raymond James lowered shares of North American Construction Group from a "strong-buy" rating to a "moderate buy" rating in a research note on Tuesday, April 22nd. Wall Street Zen upgraded North American Construction Group from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st.

About North American Construction Group

North American Construction Group Ltd. provides mining and heavy civil construction services to customers in the resource development and industrial construction sectors in Australia, Canada, and the United States. The company operates Heavy Equipment - Canada, Heavy Equipment - Australia, and Other segments.