Key Points
- Thomas Maxwell sold 1,785 NACCO shares on March 9 at an average price of $48.55 for proceeds of $86,661.75, cutting his stake by 23.09% to 5,944 shares (valued at about $288,581).
- Board approved a $20.0 million share buyback (up to ~5.2% of outstanding shares) and declared a quarterly dividend of $0.2525 (annualized $1.01, ~2.0% yield; ex-dividend March 2, payable March 16).
- NACCO reported a quarterly loss of $0.52 per share on $66.78 million of revenue; the stock trades near $51.31 with a market cap of ~$382.8M, and Weiss Ratings recently downgraded the name from "buy" to "hold."
NACCO Industries, Inc. (NYSE:NC - Get Free Report) SVP Thomas Maxwell sold 1,785 shares of the business's stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $48.55, for a total transaction of $86,661.75. Following the sale, the senior vice president owned 5,944 shares of the company's stock, valued at $288,581.20. This trade represents a 23.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
NACCO Industries Stock Up 4.9%
Shares of NC stock opened at $51.31 on Tuesday. The company has a current ratio of 3.09, a quick ratio of 2.17 and a debt-to-equity ratio of 0.21. NACCO Industries, Inc. has a 12 month low of $30.00 and a 12 month high of $59.42. The stock has a market cap of $382.77 million, a P/E ratio of 21.74 and a beta of 0.44. The company has a 50 day simple moving average of $51.55 and a two-hundred day simple moving average of $46.88.
NACCO Industries (NYSE:NC - Get Free Report) last issued its quarterly earnings results on Wednesday, March 4th. The company reported ($0.52) earnings per share for the quarter. The business had revenue of $66.78 million for the quarter. NACCO Industries had a return on equity of 4.19% and a net margin of 6.34%.
NACCO Industries declared that its Board of Directors has approved a share buyback program on Tuesday, November 18th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 5.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.
NACCO Industries Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a $0.2525 dividend. This represents a $1.01 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, March 2nd. NACCO Industries's dividend payout ratio (DPR) is currently 42.80%.
Wall Street Analyst Weigh In
Separately, Weiss Ratings lowered NACCO Industries from a "buy (b-)" rating to a "hold (c)" rating in a report on Thursday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold".
View Our Latest Report on NACCO Industries
Hedge Funds Weigh In On NACCO Industries
Several large investors have recently added to or reduced their stakes in NC. Police & Firemen s Retirement System of New Jersey bought a new position in shares of NACCO Industries in the second quarter worth approximately $41,000. Tower Research Capital LLC TRC raised its position in shares of NACCO Industries by 362.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,583 shares of the company's stock valued at $70,000 after purchasing an additional 1,241 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of NACCO Industries by 1,788.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,040 shares of the company's stock valued at $86,000 after buying an additional 1,932 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of NACCO Industries during the 4th quarter valued at $122,000. Finally, Byrne Asset Management LLC boosted its holdings in NACCO Industries by 120.7% in the 4th quarter. Byrne Asset Management LLC now owns 3,200 shares of the company's stock worth $157,000 after buying an additional 1,750 shares during the period. Hedge funds and other institutional investors own 49.10% of the company's stock.
About NACCO Industries
(
Get Free Report)
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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