NACCO Industries (NYSE:NC) Share Price Crosses Below 200 Day Moving Average – Here’s What Happened

NACCO Industries, Inc. (NYSE:NC) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $50.68 and traded as low as $48.79. NACCO Industries shares last traded at $49.0450, with a volume of 10,472 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of NACCO Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

NACCO Industries Trading Down 2.0%

The company has a 50 day moving average of $49.98 and a two-hundred day moving average of $50.66. The stock has a market capitalization of $360.68 million, a PE ratio of 16.67 and a beta of 0.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.35 and a current ratio of 3.30.

NACCO Industries (NYSE:NC) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.17 EPS for the quarter. NACCO Industries had a return on equity of 5.04% and a net margin of 7.84%.The company had revenue of $62.77 million during the quarter.

NACCO Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a $0.2625 dividend. This represents a $1.05 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, June 1st. This is an increase from NACCO Industries’s previous quarterly dividend of $0.25. NACCO Industries’s payout ratio is 36.59%.

Institutional Trading of NACCO Industries

Several large investors have recently bought and sold shares of NC. Byrne Asset Management LLC increased its stake in NACCO Industries by 9.6% during the 2nd quarter. Byrne Asset Management LLC now owns 4,567 shares of the company’s stock valued at $229,000 after purchasing an additional 400 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of NACCO Industries by 1.3% during the first quarter. PNC Financial Services Group Inc. now owns 48,413 shares of the company’s stock worth $2,516,000 after buying an additional 604 shares during the period. Invesco Ltd. purchased a new stake in shares of NACCO Industries during the fourth quarter valued at $236,000. Millennium Management LLC grew its holdings in shares of NACCO Industries by 85.3% during the fourth quarter. Millennium Management LLC now owns 11,851 shares of the company’s stock valued at $581,000 after buying an additional 5,457 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new stake in shares of NACCO Industries during the fourth quarter valued at $225,000. Hedge funds and other institutional investors own 49.10% of the company’s stock.

About NACCO Industries

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.