National Interstate Corp. (NATL) Rating Lowered to Hold at Zacks Investment Research
National Interstate Corp. (NASDAQ:NATL) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “National Interstate Corporation is a specialty property and casualty insurance company with a niche orientation and focus on the transportation industry. Their core products include property and casualty insurance for transportation companies, group captive insurance programs for transportation companies that they refer to as their alternative risk transfer operations, specialty personal lines, primarily, recreational vehicle coverage and general commercial insurance in Hawaii. “
Shares of National Interstate Corp. (NASDAQ:NATL) opened at 32.49 on Tuesday. The company has a market cap of $647.43 million, a PE ratio of 28.13 and a beta of 1.07. The company has a 50 day moving average of $32.51 and a 200-day moving average of $31.35. National Interstate Corp. has a 52-week low of $21.15 and a 52-week high of $34.49.
National Interstate Corp. (NASDAQ:NATL) last issued its earnings results on Tuesday, August 2nd. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.11. National Interstate Corp. had a net margin of 3.57% and a return on equity of 7.63%. Analysts forecast that National Interstate Corp. will post $1.85 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Friday, September 2nd were issued a dividend of $0.14 per share. The ex-dividend date was Wednesday, August 31st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.72%. National Interstate Corp.’s dividend payout ratio (DPR) is presently 48.70%.
Several institutional investors have recently modified their holdings of the company. Spark Investment Management LLC raised its position in shares of National Interstate Corp. by 47.2% in the first quarter. Spark Investment Management LLC now owns 15,900 shares of the company’s stock worth $475,000 after buying an additional 5,100 shares during the period. Alpine Partners VI LLC acquired a new position in shares of National Interstate Corp. during the first quarter worth approximately $242,000. OMERS ADMINISTRATION Corp acquired a new position in shares of National Interstate Corp. during the first quarter worth approximately $1,020,000. State Street Corp raised its position in shares of National Interstate Corp. by 2.0% in the first quarter. State Street Corp now owns 110,700 shares of the company’s stock worth $3,311,000 after buying an additional 2,160 shares during the period. Finally, Springbok Capital Management LLC acquired a new position in shares of National Interstate Corp. during the first quarter worth approximately $135,000. Institutional investors own 85.55% of the company’s stock.
About National Interstate Corp.
National Interstate Corporation and its subsidiaries operate as an insurance holding company that underwrites and sells traditional and alternative property and casualty insurance products to the passenger transportation, trucking and moving and storage industries, general commercial insurance to small businesses in Hawaii and Alaska and personal insurance to owners of recreational vehicles throughout the United States.
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