NACCO Industries, Inc. (NYSE:NC) Sees Large Drop in Short Interest

NACCO Industries, Inc. (NYSE:NC - Get Free Report) saw a large drop in short interest in May. As of May 15th, there was short interest totalling 31,900 shares, a drop of 17.6% from the April 30th total of 38,700 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average trading volume of 12,800 shares, the days-to-cover ratio is currently 2.5 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NC. Empowered Funds LLC raised its position in NACCO Industries by 4.9% during the 4th quarter. Empowered Funds LLC now owns 36,444 shares of the company's stock worth $1,087,000 after purchasing an additional 1,716 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in NACCO Industries by 2.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,079 shares of the company's stock worth $569,000 after purchasing an additional 424 shares during the last quarter. 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 purchasing an additional 8,062 shares during the last quarter. 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 purchasing an additional 783 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in NACCO Industries during the 4th quarter worth $282,000. 49.10% of the stock is owned by institutional investors.

NACCO Industries Price Performance

Shares of NYSE NC traded up $1.35 during mid-day trading on Friday, hitting $37.73. 8,579 shares of the stock traded hands, compared to its average volume of 14,387. 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 twelve month low of $25.19 and a twelve month high of $39.65. The company has a market cap of $280.79 million, a PE ratio of -16.26 and a beta of 0.61. The firm has a 50 day simple moving average of $35.40 and a two-hundred day simple moving average of $32.95.

NACCO Industries (NYSE:NC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.66 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 company had revenue of $65.57 million for the quarter.

NACCO Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.2525 per share. This is a positive change from NACCO Industries's previous quarterly dividend of $0.23. This represents a $1.01 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Friday, May 30th. NACCO Industries's dividend payout ratio (DPR) is currently 21.81%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded NACCO Industries from a "buy" rating to a "hold" rating in a report on Saturday.

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.