NACCO Industries (NYSE:NC) Lowered to Hold Rating by Wall Street Zen

Key Points

• NACCO Industries was downgraded from a "buy" rating to a "hold" rating by Wall Street Zen in a recent research note.
• The company's stock is currently priced at $37.06, with a market capitalization of $275.70 million and a PE ratio of 8.70.
• Institutional investors collectively own 49.10% of NACCO Industries, with notable recent transactions from Geode Capital Management and PNC Financial Services Group.

Wall Street Zen downgraded shares of NACCO Industries (NYSE:NC - Free Report) from a buy rating to a hold rating in a research note published on Saturday morning.

NACCO Industries Trading Down 1.9%

NC traded down $0.70 during trading on Friday, hitting $36.44. 8,628 shares of the company's stock were exchanged, compared to its average volume of 10,290. The company has a current ratio of 3.91, a quick ratio of 2.90 and a debt-to-equity ratio of 0.22. NACCO Industries has a 1 year low of $25.19 and a 1 year high of $45.50. The stock has a 50 day moving average price of $39.43 and a 200 day moving average price of $35.82. The firm has a market cap of $271.13 million, a P/E ratio of 8.55 and a beta of 0.70.

NACCO Industries (NYSE:NC - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.44 earnings per share (EPS) for the quarter. The company had revenue of $68.24 million during 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 announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a $0.2525 dividend. This represents a $1.01 annualized dividend and a dividend yield of 2.8%. This is a boost from NACCO Industries's previous quarterly dividend of $0.23. The ex-dividend date was Friday, May 30th. NACCO Industries's payout ratio is currently 23.71%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NC. Tower Research Capital LLC TRC boosted its stake 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 valued at $37,000 after acquiring an additional 857 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in NACCO Industries during the 2nd quarter valued at about $41,000. Byrne Asset Management LLC increased its stake in NACCO Industries by 105.6% during the 1st quarter. Byrne Asset Management LLC now owns 1,357 shares of the company's stock valued at $46,000 after buying an additional 697 shares during the period. Wells Fargo & Company MN boosted its position in shares of NACCO Industries by 18.7% during the 4th 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. Finally, Exchange Traded Concepts LLC boosted its position in shares of NACCO Industries by 30.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,366 shares of the company's stock valued at $80,000 after purchasing an additional 559 shares in the last quarter. 49.10% of the stock is currently owned by hedge funds and other institutional investors.

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.