Prescott Group Capital Management L.L.C. Sells 6,098 Shares of NACCO Industries, Inc. (NYSE:NC)

Key Points

• Prescott Group Capital Management L.L.C. has reduced its stake in NACCO Industries by 23.3%, now owning 20,105 shares valued at $678,000.
• Several institutional investors, including Wells Fargo and Exchange Traded Concepts, have increased their positions in NACCO, showing a mixed trend in investor confidence.
• NACCO Industries recently announced an increased quarterly dividend of $0.2525, up from the previous quarterly dividend of $0.23, marking an annual yield of 2.46%.

Prescott Group Capital Management L.L.C. trimmed its position in NACCO Industries, Inc. (NYSE:NC - Free Report) by 23.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,105 shares of the company's stock after selling 6,098 shares during the quarter. Prescott Group Capital Management L.L.C. owned approximately 0.27% of NACCO Industries worth $678,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its holdings in shares of NACCO Industries by 232.9% in the fourth 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 period. Byrne Asset Management LLC boosted its holdings in shares of NACCO Industries by 105.6% during the first quarter. Byrne Asset Management LLC now owns 1,357 shares of the company's stock worth $46,000 after purchasing an additional 697 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of NACCO Industries by 18.7% during the fourth quarter. Wells Fargo & Company MN now owns 2,503 shares of the company's stock worth $75,000 after purchasing an additional 394 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of NACCO Industries by 30.9% during the first quarter. Exchange Traded Concepts LLC now owns 2,366 shares of the company's stock worth $80,000 after purchasing an additional 559 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of NACCO Industries by 21.7% during the fourth quarter. Bank of America Corp DE now owns 6,504 shares of the company's stock worth $194,000 after purchasing an additional 1,158 shares during the period. 49.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of NACCO Industries from a "hold" rating to a "buy" rating in a report on Sunday, June 15th.

NACCO Industries Stock Down 1.5%

Shares of NC stock traded down $0.64 during trading on Tuesday, hitting $40.53. 2,519 shares of the company were exchanged, compared to its average volume of 10,528. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.47 and a current ratio of 3.42. The firm has a market capitalization of $301.51 million, a price-to-earnings ratio of 8.75 and a beta of 0.67. The business's 50-day simple moving average is $39.11 and its 200 day simple moving average is $35.39. NACCO Industries, Inc. has a twelve month low of $25.19 and a twelve month high of $45.50.

NACCO Industries (NYSE:NC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.66 EPS for the quarter. The business had revenue of $65.57 million during the quarter. NACCO Industries had a net margin of 13.63% and a return on equity of 8.54%.

NACCO Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were paid a $0.2525 dividend. The ex-dividend date of this dividend was Friday, May 30th. This is a boost from NACCO Industries's previous quarterly dividend of $0.23. This represents a $1.01 dividend on an annualized basis and a yield of 2.49%. NACCO Industries's payout ratio is 21.81%.

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.