North American Construction Group Ltd. (NYSE:NOA) Short Interest Update

Key Points

• North American Construction Group experienced a 44.3% increase in short interest in August, with total short interest reaching 886,900 shares.
• The company recently declared a quarterly dividend of $0.0872 per share, boosting its annual dividend yield to 2.6%.
• After a recent earnings report, North American Construction Group missed consensus EPS estimates by $0.42, reporting earnings of $0.24 per share.

North American Construction Group Ltd. (NYSE:NOA - Get Free Report) TSE: NOA saw a significant increase in short interest during the month of August. As of August 15th, there was short interest totaling 886,900 shares, anincreaseof44.3% from the July 31st total of 614,500 shares. Approximately3.4% of the company's shares are sold short. Based on an average daily trading volume, of 101,000 shares, the days-to-cover ratio is currently 8.8 days. Based on an average daily trading volume, of 101,000 shares, the days-to-cover ratio is currently 8.8 days. Approximately3.4% of the company's shares are sold short.

Analyst Ratings Changes

A number of research firms recently weighed in on NOA. Wall Street Zen raised shares of North American Construction Group from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. CIBC cut North American Construction Group to a "neutral" rating in a report on Friday, August 15th. Canaccord Genuity Group lowered North American Construction Group from a "buy" rating to a "hold" rating in a research note on Friday, July 11th. Atb Cap Markets downgraded North American Construction Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. Finally, TD Securities lowered shares of North American Construction Group from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. Five research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, North American Construction Group presently has a consensus rating of "Reduce".

North American Construction Group Stock Down 0.6%

NYSE:NOA traded down $0.08 during mid-day trading on Friday, reaching $13.39. The company's stock had a trading volume of 111,055 shares, compared to its average volume of 188,444. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 1.57. The firm has a market capitalization of $403.99 million, a PE ratio of 15.39 and a beta of 1.23. The stock has a fifty day moving average of $14.89 and a 200-day moving average of $15.87. North American Construction Group has a 1 year low of $12.12 and a 1 year high of $22.08.

North American Construction Group (NYSE:NOA - Get Free Report) TSE: NOA last announced its quarterly earnings results on Wednesday, August 13th. The oil and gas company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.42). The business had revenue of $235.51 million during the quarter, compared to analysts' expectations of $231.51 million. North American Construction Group had a return on equity of 17.15% and a net margin of 2.82%. Equities research analysts forecast that North American Construction Group will post 2.56 earnings per share for the current year.

North American Construction Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, August 29th will be issued a $0.0872 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from North American Construction Group's previous quarterly dividend of $0.09. North American Construction Group's dividend payout ratio (DPR) is 40.23%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NOA. Polar Asset Management Partners Inc. boosted its position in shares of North American Construction Group by 70.3% in the 1st quarter. Polar Asset Management Partners Inc. now owns 1,740,985 shares of the oil and gas company's stock worth $27,577,000 after purchasing an additional 718,884 shares in the last quarter. TD Waterhouse Canada Inc. raised its stake in North American Construction Group by 106,111.8% in the second quarter. TD Waterhouse Canada Inc. now owns 278,275 shares of the oil and gas company's stock valued at $4,463,000 after buying an additional 278,013 shares during the last quarter. NewGen Asset Management Ltd acquired a new stake in North American Construction Group in the first quarter worth about $2,368,000. Bank of America Corp DE grew its stake in shares of North American Construction Group by 80.7% during the second quarter. Bank of America Corp DE now owns 326,266 shares of the oil and gas company's stock worth $5,214,000 after acquiring an additional 145,745 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in shares of North American Construction Group by 4.6% during the second quarter. Bank of Montreal Can now owns 2,244,637 shares of the oil and gas company's stock worth $35,941,000 after acquiring an additional 98,646 shares during the last quarter. 74.99% of the stock is owned by institutional investors.

About North American Construction Group

North American Construction Group Ltd. provides mining and heavy civil construction services to customers in the resource development and industrial construction sectors in Australia, Canada, and the United States. The company operates Heavy Equipment - Canada, Heavy Equipment - Australia, and Other segments.

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