NACCO Industries (NYSE:NC) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

NACCO Industries, Inc. (NYSE:NC)’s stock price crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $45.43 and traded as low as $32.46. NACCO Industries shares last traded at $32.7850, with a volume of 20,078 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of NACCO Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, October 6th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, NACCO Industries currently has a consensus rating of “Sell”.

NACCO Industries Stock Up 3.1%

The company has a market cap of $260.41 million, a price-to-earnings ratio of 15.00 and a beta of 0.56. The company has a current ratio of 3.30, a quick ratio of 2.33 and a debt-to-equity ratio of 0.26. The firm’s fifty day moving average price is $38.42 and its 200-day moving average price is $45.30.

NACCO Industries (NYSE:NC) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.13) EPS for the quarter. The firm had revenue of $72.31 million during the quarter. NACCO Industries had a net margin of 6.21% and a return on equity of 4.00%.

NACCO Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were issued a dividend of $0.2625 per share. This represents a $1.05 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, August 31st. NACCO Industries’s payout ratio is 45.65%.

Hedge Funds Weigh In On NACCO Industries

Institutional investors and hedge funds have recently modified their holdings of the business. Ancora Advisors LLC increased its stake in NACCO Industries by 17.5% during the 2nd quarter. Ancora Advisors LLC now owns 55,903 shares of the company’s stock worth $2,798,000 after purchasing an additional 8,344 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in NACCO Industries by 1.3% in the first quarter. PNC Financial Services Group Inc. now owns 48,413 shares of the company’s stock valued at $2,516,000 after buying an additional 604 shares in the last quarter. Squarepoint Ops LLC bought a new position in NACCO Industries in the second quarter valued at approximately $300,000. Finally, Byrne Asset Management LLC boosted its holdings in shares of NACCO Industries by 9.6% in the second quarter. Byrne Asset Management LLC now owns 4,567 shares of the company’s stock valued at $229,000 after buying an additional 400 shares during the period. 49.10% of the stock is currently owned by institutional investors and hedge funds.

NACCO Industries Company Profile

NACCO Industries, Inc is a natural resources company that provides mining and natural resource development services primarily in the United States. Through its subsidiaries, the company operates in coal mining, aggregates and minerals management, serving customers in the power generation, industrial and construction sectors.

Its principal business is conducted through The North American Coal Corporation, which develops and operates surface coal mines under long-term contracts for electric utilities and industrial customers.