Cannell Capital LLC Sells 161,057 Shares of North American Construction Group Ltd. (NYSE:NOA)

Cannell Capital LLC lessened its position in North American Construction Group Ltd. (NYSE:NOA - Free Report) TSE: NOA by 8.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,700,444 shares of the oil and gas company's stock after selling 161,057 shares during the period. North American Construction Group makes up 7.5% of Cannell Capital LLC's portfolio, making the stock its 2nd biggest position. Cannell Capital LLC owned approximately 6.12% of North American Construction Group worth $36,747,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its stake in shares of North American Construction Group by 284.3% in the fourth quarter. Russell Investments Group Ltd. now owns 7,954 shares of the oil and gas company's stock valued at $171,000 after purchasing an additional 5,884 shares during the period. Public Employees Retirement System of Ohio acquired a new position in North American Construction Group during the 3rd quarter worth $185,000. Stephens Inc. AR bought a new position in shares of North American Construction Group in the fourth quarter worth $204,000. Geode Capital Management LLC raised its stake in shares of North American Construction Group by 14.9% during the third quarter. Geode Capital Management LLC now owns 14,138 shares of the oil and gas company's stock valued at $264,000 after purchasing an additional 1,838 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in North American Construction Group in the fourth quarter worth about $269,000. 74.99% of the stock is currently owned by institutional investors.

North American Construction Group Price Performance

NYSE NOA traded up $0.55 on Friday, reaching $14.30. 90,675 shares of the stock traded hands, compared to its average volume of 68,357. North American Construction Group Ltd. has a 12 month low of $13.19 and a 12 month high of $22.16. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 1.85. The firm's fifty day simple moving average is $16.81 and its 200 day simple moving average is $18.77. The company has a market cap of $439.04 million, a price-to-earnings ratio of 9.93 and a beta of 1.16.

North American Construction Group Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Thursday, March 13th were given a $0.084 dividend. This represents a $0.34 annualized dividend and a yield of 2.35%. The ex-dividend date was Thursday, March 13th. North American Construction Group's dividend payout ratio (DPR) is presently 28.70%.

Analyst Ratings Changes

Separately, Raymond James upgraded shares of North American Construction Group from a "moderate buy" rating to a "strong-buy" rating in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy".

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.