NACCO Industries (NYSE:NC) Share Price Crosses Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• NACCO Industries stock slipped below its 200-day moving average during Friday’s trading, with shares falling as low as $46.50 versus the $50.59 average. The stock last traded at $46.91 on relatively light volume.
• Weiss Ratings downgraded NACCO Industries from “buy (b-)” to “hold (c+)” in a note issued Thursday, adding to the stock’s overall consensus Hold rating.
• The company recently reported quarterly EPS of $1.17 on revenue of $62.77 million and also raised its quarterly dividend to $0.2625 per share, implying an annualized yield of about 2.2%.

NACCO Industries, Inc. (NYSE:NC - Get Free Report) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $50.59 and traded as low as $46.50. NACCO Industries shares last traded at $46.9120, with a volume of 10,728 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut NACCO Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, NACCO Industries has a consensus rating of "Hold".

NACCO Industries Stock Performance

The company has a market capitalization of $353.72 million, a P/E ratio of 16.35 and a beta of 0.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.30 and a quick ratio of 2.35. The company has a fifty day moving average price of $49.70 and a two-hundred day moving average price of $50.59.

NACCO Industries (NYSE:NC - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $1.17 earnings per share (EPS) for the quarter. The company had revenue of $62.77 million during the quarter. NACCO Industries had a return on equity of 5.04% and a net margin of 7.84%.

NACCO Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.2625 dividend. This is an increase from NACCO Industries's previous quarterly dividend of $0.25. The ex-dividend date was Monday, June 1st. This represents a $1.05 annualized dividend and a yield of 2.2%. NACCO Industries's dividend payout ratio is currently 36.59%.

Hedge Funds Weigh In On NACCO Industries

Hedge funds have recently modified their holdings of the business. Byrne Asset Management LLC increased its holdings in NACCO Industries by 9.6% in the second quarter. Byrne Asset Management LLC now owns 4,567 shares of the company's stock valued at $229,000 after purchasing an additional 400 shares during the period. PNC Financial Services Group Inc. raised its position in NACCO Industries by 1.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 48,413 shares of the company's stock worth $2,516,000 after purchasing an additional 604 shares during the last quarter. Barclays PLC lifted its holdings in NACCO Industries by 10.6% during the 4th quarter. Barclays PLC now owns 6,406 shares of the company's stock worth $314,000 after buying an additional 614 shares during the period. JPMorgan Chase & Co. lifted its holdings in NACCO Industries by 12.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,563 shares of the company's stock worth $277,000 after buying an additional 718 shares during the period. Finally, Rhumbline Advisers grew its position in shares of NACCO Industries by 16.6% in the 2nd quarter. Rhumbline Advisers now owns 7,455 shares of the company's stock valued at $330,000 after buying an additional 1,062 shares during the last quarter. Institutional investors and hedge funds own 49.10% of the company's stock.

About NACCO Industries

NACCO Industries, Inc is a Cleveland, Ohio–based diversified holding company with a history spanning more than a century. Through its principal subsidiaries, the company operates in two primary business areas: coal mining and material-handling system design and manufacturing. Originally incorporated in 1913, NACCO has maintained a presence on the New York Stock Exchange under the ticker symbol NC since the 1920s, evolving its portfolio to meet changing market demands while preserving its core expertise in bulk commodities and industrial services.

The North American Coal Corporation, NACCO's coal mining segment, is among the largest producers of lignite coal in the United States.

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