NACCO Industries, Inc. (NYSE:NC) Sees Large Increase in Short Interest

NACCO Industries, Inc. (NYSE:NC - Get Free Report) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 40,000 shares, an increase of 40.4% from the February 28th total of 28,500 shares. Based on an average daily trading volume, of 10,100 shares, the short-interest ratio is currently 4.0 days. Approximately 1.4% of the company's stock are sold short.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of NACCO Industries from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th.

NACCO Industries Stock Down 1.3 %

NYSE:NC traded down $0.43 during trading hours on Thursday, reaching $32.97. 1,163 shares of the company traded hands, compared to its average volume of 14,567. 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 business's 50-day moving average price is $32.60 and its two-hundred day moving average price is $30.65. NACCO Industries has a 1 year low of $25.19 and a 1 year high of $34.78. The stock has a market capitalization of $245.03 million, a P/E ratio of -14.21 and a beta of 0.69.

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

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NACCO Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.2275 per share. This represents a $0.91 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Monday, March 3rd. NACCO Industries's dividend payout ratio (DPR) is currently 19.87%.

Hedge Funds Weigh In On NACCO Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted 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 valued at $2,219,000 after purchasing an additional 763 shares in the last quarter. Barclays PLC boosted its holdings in shares of NACCO Industries by 365.4% during the 3rd quarter. Barclays PLC now owns 7,004 shares of the company's stock valued at $199,000 after acquiring an additional 5,499 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of NACCO Industries by 77.8% in the third quarter. JPMorgan Chase & Co. now owns 8,263 shares of the company's stock worth $234,000 after acquiring an additional 3,615 shares during the period. Empowered Funds LLC raised its holdings in shares of NACCO Industries by 4.9% during the fourth quarter. Empowered Funds LLC now owns 36,444 shares of the company's stock valued at $1,087,000 after purchasing an additional 1,716 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in NACCO Industries by 2.3% during the fourth 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 during the period. 49.10% of the stock is owned by institutional investors.

About NACCO Industries

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.