M&T Bank Corp Invests $953,000 in NACCO Industries, Inc. $NC

M&T Bank Corp acquired a new position in shares of NACCO Industries, Inc. (NYSE:NC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 21,500 shares of the company’s stock, valued at approximately $953,000. M&T Bank Corp owned 0.29% of NACCO Industries as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Nuveen LLC bought a new position in NACCO Industries during the first quarter worth about $445,000. Mudita Advisors LLP bought a new stake in shares of NACCO Industries in the 1st quarter valued at about $2,910,000. Penn Mutual Asset Management raised its position in shares of NACCO Industries by 17.9% in the 1st quarter. Penn Mutual Asset Management now owns 15,960 shares of the company’s stock valued at $538,000 after acquiring an additional 2,425 shares during the period. Segall Bryant & Hamill LLC bought a new position in NACCO Industries during the 2nd quarter worth approximately $1,318,000. Finally, MetLife Investment Management LLC bought a new position in NACCO Industries during the 1st quarter worth approximately $83,000. Institutional investors and hedge funds own 49.10% of the company’s stock.

Insider Buying and Selling

In related news, SVP Elizabeth Loveman sold 1,897 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $49.94, for a total value of $94,736.18. Following the sale, the senior vice president directly owned 18,172 shares of the company’s stock, valued at approximately $907,509.68. The trade was a 9.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 43.03% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NACCO Industries in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

NACCO Industries Trading Down 1.9%

NYSE:NC opened at $47.43 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.06 and a quick ratio of 2.18. The business’s 50-day simple moving average is $45.03 and its 200-day simple moving average is $41.27. NACCO Industries, Inc. has a fifty-two week low of $27.47 and a fifty-two week high of $53.88. The stock has a market capitalization of $353.83 million, a PE ratio of 12.16 and a beta of 0.48.

NACCO Industries (NYSE:NC) last posted its earnings results on Wednesday, November 5th. The company reported $1.78 earnings per share (EPS) for the quarter. The business had revenue of $76.61 million during the quarter. NACCO Industries had a return on equity of 7.01% and a net margin of 10.32%.

NACCO Industries announced that its board has initiated a stock buyback plan on Tuesday, November 18th that permits the company to repurchase $20.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 5.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

NACCO Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.2525 per share. This represents a $1.01 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Monday, December 1st. NACCO Industries’s dividend payout ratio (DPR) is presently 25.90%.

NACCO Industries Profile

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.