NACCO Industries (NYSE:NC) Shares Cross Below 200-Day Moving Average - Here's What Happened

Key Points

• NACCO Industries shares fell below their 200-day moving average of $50.66, trading as low as $47.30 and last changing hands near $48.01 on volume of 9,575 shares.
• Weiss Ratings downgraded the stock from “buy (b-)” to “hold (c+),” while the broader analyst consensus remains Hold.
• NACCO reported quarterly EPS of $1.17 on revenue of $62.77 million and raised its quarterly dividend to $0.2625, equal to a $1.05 annualized payout and a 2.2% yield.

Shares of NACCO Industries, Inc. (NYSE:NC - Get Free Report) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $50.66 and traded as low as $47.30. NACCO Industries shares last traded at $48.0110, with a volume of 9,575 shares traded.

Wall Street Analysts Forecast Growth

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

NACCO Industries Trading Up 1.3%

The company has a 50 day moving average of $49.49 and a 200 day moving average of $50.66. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.35 and a current ratio of 3.30. The stock has a market capitalization of $362.00 million, a price-to-earnings ratio of 16.73 and a beta of 0.46.

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

NACCO Industries Increases Dividend

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

Institutional Trading of NACCO Industries

Hedge funds have recently bought and sold shares of the business. Byrne Asset Management LLC boosted its holdings in NACCO Industries by 9.6% in the 2nd 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 last quarter. PNC Financial Services Group Inc. increased its holdings in shares of 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 buying an additional 604 shares during the last quarter. Barclays PLC increased its holdings in shares of 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 last quarter. JPMorgan Chase & Co. raised its position in shares of NACCO Industries by 12.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,563 shares of the company's stock valued at $277,000 after buying an additional 718 shares during the period. Finally, Rhumbline Advisers raised its position in shares of NACCO Industries by 16.6% during 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 period. Institutional investors and hedge funds own 49.10% of the company's stock.

NACCO Industries Company Profile

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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