Short Interest in NACCO Industries, Inc. (NYSE:NC) Expands By 40.4%

NACCO Industries, Inc. (NYSE:NC) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 40,000 shares, a growth of 40.4% from the February 28th total of 28,500 shares. Based on an average trading volume of 10,100 shares, the days-to-cover ratio is currently 4.0 days. Currently, 1.4% of the shares of the stock are short sold.

NACCO Industries Price Performance

Shares of NYSE:NC traded up $0.44 during midday trading on Tuesday, hitting $34.17. 5,676 shares of the stock were exchanged, compared to its average volume of 14,654. NACCO Industries has a twelve month low of $25.19 and a twelve month high of $34.78. The company has a current ratio of 3.76, a quick ratio of 2.39 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average price of $32.55 and a 200-day moving average price of $30.63. The stock has a market cap of $253.95 million, a P/E ratio of -14.73 and a beta of 0.95.

NACCO Industries (NYSE:NC) last announced its earnings results on Wednesday, March 5th. The company reported $1.02 earnings per share (EPS) for the quarter. The company had revenue of $70.42 million during the quarter. NACCO Industries had a negative net margin of 7.94% and a positive return on equity of 8.87%.

NACCO Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.2275 dividend. This represents a $0.91 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Monday, March 3rd. NACCO Industries’s payout ratio is currently 19.87%.

Hedge Funds Weigh In On NACCO Industries

Hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN lifted its position in shares of NACCO Industries by 18.7% in the fourth quarter. Wells Fargo & Company MN now owns 2,503 shares of the company’s stock valued at $75,000 after acquiring an additional 394 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in NACCO Industries by 2.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,079 shares of the company’s stock valued at $569,000 after purchasing an additional 424 shares in the last quarter. Two Sigma Advisers LP boosted its stake in shares of NACCO Industries by 3.4% during the 4th quarter. Two Sigma Advisers LP now owns 21,316 shares of the company’s stock worth $636,000 after purchasing an additional 700 shares during the last quarter. State Street Corp grew its holdings in shares of NACCO Industries by 1.0% during the third quarter. State Street Corp now owns 78,276 shares of the company’s stock worth $2,219,000 after buying an additional 763 shares in the last quarter. Finally, Barclays PLC raised its position in shares of NACCO Industries by 11.0% in the fourth quarter. Barclays PLC now owns 7,771 shares of the company’s stock valued at $232,000 after buying an additional 767 shares during the last quarter. Hedge funds and other institutional investors own 49.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded NACCO Industries from a “buy” rating to a “hold” rating in a research note on Saturday.

NACCO Industries Company Profile

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.