NACCO Industries (NYSE:NC) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

NACCO Industries, Inc. (NYSE:NC) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $46.02 and traded as high as $58.52. NACCO Industries shares last traded at $57.86, with a volume of 10,086 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated 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, Based on data from MarketBeat.com, NACCO Industries currently has an average rating of “Buy”.

NACCO Industries Stock Up 2.7%

The company has a market capitalization of $431.64 million, a price-to-earnings ratio of 14.84 and a beta of 0.48. The company has a current ratio of 3.06, a quick ratio of 2.18 and a debt-to-equity ratio of 0.18. The firm’s 50 day simple moving average is $50.95 and its 200-day simple moving average is $46.02.

NACCO Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a dividend of $0.2525 per share. This represents a $1.01 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, March 2nd. NACCO Industries’s dividend payout ratio is currently 25.90%.

NACCO Industries declared that its Board of Directors has initiated a share repurchase program on Tuesday, November 18th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the company to repurchase up to 5.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NC. Geode Capital Management LLC lifted its holdings in NACCO Industries by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 95,345 shares of the company’s stock valued at $4,677,000 after acquiring an additional 2,507 shares during the period. Bridgeway Capital Management LLC lifted its stake in shares of NACCO Industries by 2.3% in the third quarter. Bridgeway Capital Management LLC now owns 76,959 shares of the company’s stock valued at $3,245,000 after purchasing an additional 1,722 shares during the period. PNC Financial Services Group Inc. boosted its holdings in NACCO Industries by 1.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 47,809 shares of the company’s stock worth $2,345,000 after buying an additional 785 shares in the last quarter. Empowered Funds LLC boosted its holdings in NACCO Industries by 6.9% during the first quarter. Empowered Funds LLC now owns 38,972 shares of the company’s stock worth $1,315,000 after buying an additional 2,528 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in NACCO Industries during the second quarter worth about $1,318,000. 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.