NACCO Industries (NYSE:NC) Issues Earnings Results

NACCO Industries (NYSE:NC) released its quarterly earnings results on Wednesday. The company reported ($0.52) earnings per share for the quarter, FiscalAI reports. NACCO Industries had a net margin of 10.32% and a return on equity of 7.01%. The business had revenue of $66.78 million during the quarter.

NACCO Industries Trading Up 1.0%

NYSE:NC traded up $0.58 during trading hours on Wednesday, reaching $57.38. The company’s stock had a trading volume of 25,271 shares, compared to its average volume of 10,097. The firm has a market capitalization of $428.05 million, a price-to-earnings ratio of 14.71 and a beta of 0.45. The firm has a 50-day simple moving average of $51.31 and a 200-day simple moving average of $46.43. NACCO Industries has a 1 year low of $30.00 and a 1 year high of $59.42. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.18 and a current ratio of 3.06.

NACCO Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a $0.2525 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.01 dividend on an annualized basis and a dividend yield of 1.8%. NACCO Industries’s dividend payout ratio is 25.90%.

NACCO Industries declared that its board has approved a stock buyback plan on Tuesday, November 18th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 5.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Baird Financial Group Inc. purchased a new stake in NACCO Industries during the 1st quarter valued at about $219,000. Empowered Funds LLC lifted its position in NACCO Industries by 6.9% in the first quarter. Empowered Funds LLC now owns 38,972 shares of the company’s stock valued at $1,315,000 after purchasing an additional 2,528 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of NACCO Industries by 4.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,853 shares of the company’s stock valued at $880,000 after purchasing an additional 774 shares during the period. 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. Finally, Rhumbline Advisers increased its stake in shares of NACCO Industries by 16.6% in the second quarter. Rhumbline Advisers now owns 7,455 shares of the company’s stock worth $330,000 after buying an additional 1,062 shares during the period. 49.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of NACCO Industries in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, NACCO Industries has a consensus rating of “Buy”.

NACCO Industries Company Profile

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.