National HealthCare (NYSEAMERICAN:NHC) Reaches New 52-Week High After Dividend Announcement

Key Points

• Dividend raised to $0.67 from $0.64 quarterly; payable July 31 to stockholders of record June 30 (ex-dividend June 30), implying an annualized $2.68 and a 1.4% yield with a payout ratio around 59%.
• Shares jumped to a new 52-week high, trading as high as $185.62 (last $183.86), up about 8.1% on the news; market cap is roughly $2.89 billion with a P/E of ~24.2.
• Latest quarter: EPS $1.91 on $381.82 million revenue, with a net margin of ~7.9% and ROE ~9.6%; institutional investors own about 56% of the company.

National HealthCare Corporation (NYSEAMERICAN:NHC - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday following a dividend announcement from the company. The company traded as high as $185.62 and last traded at $183.86, with a volume of 20532 shares traded. The stock had previously closed at $171.42.The newly announced dividend which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.67 per share. The ex-dividend date is Tuesday, June 30th. This is a positive change from National HealthCare's previous quarterly dividend of $0.64. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.4%. National HealthCare's payout ratio is presently 59.12%.

National HealthCare Stock Up 8.1%

The firm has a market cap of $2.89 billion, a PE ratio of 24.16 and a beta of 0.64. The stock has a 50 day moving average price of $165.30 and a two-hundred day moving average price of $147.81.

National HealthCare (NYSEAMERICAN:NHC - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.91 earnings per share for the quarter. National HealthCare had a return on equity of 9.59% and a net margin of 7.91%.The business had revenue of $381.82 million for the quarter.

Institutional Investors Weigh In On National HealthCare

A number of large investors have recently bought and sold shares of the company. KBC Group NV purchased a new stake in National HealthCare in the first quarter valued at approximately $82,000. Swiss National Bank boosted its position in National HealthCare by 0.8% in the first quarter. Swiss National Bank now owns 26,130 shares of the company's stock valued at $4,173,000 after buying an additional 200 shares during the last quarter. Fifth Third Bancorp boosted its position in National HealthCare by 4,581.0% in the first quarter. Fifth Third Bancorp now owns 2,715 shares of the company's stock valued at $434,000 after buying an additional 2,657 shares during the last quarter. Hsbc Holdings PLC boosted its position in National HealthCare by 1.2% in the first quarter. Hsbc Holdings PLC now owns 7,969 shares of the company's stock valued at $1,275,000 after buying an additional 93 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in National HealthCare in the first quarter valued at approximately $583,000. Hedge funds and other institutional investors own 56.44% of the company's stock.

About National HealthCare

National HealthCare Corporation (NYSE American: NHC) is a healthcare services company specializing in long-term care and post-acute rehabilitation. The company operates skilled nursing facilities, assisted living communities and outpatient therapy clinics. Through its subsidiary, National HealthCare Partners, NHC provides contract rehabilitation services, pharmacy management and clinical consulting to a broad network of senior living and healthcare providers.

Headquartered in Murfreesboro, Tennessee, National HealthCare Corporation has built a regional footprint across the southeastern and south-central United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.