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Is NACCO Industries, Inc. (NC) Going to Burn These Hedge Funds?

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In the eyes of many investors, hedge funds are assumed to be bloated, old financial tools of an era lost to time. Although there are In excess of 8,000 hedge funds with their doors open today, this site aim at the aristocrats of this club, close to 525 funds. It is assumed that this group controls the majority of the hedge fund industry’s total assets, and by watching their best investments, we’ve deciphered a few investment strategies that have historically outpaced the broader indices. Our small-cap hedge fund strategy beat the S&P 500 index by 18 percentage points per year for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have trumped the S&P 500 index by 33 percentage points in 11 months (find a sample of our picks).

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Thus, we’re going to discuss the newest info about NACCO Industries, Inc. (NYSE:NC).

NACCO Industries, Inc. (NYSE:NC)

How are hedge funds trading NACCO Industries, Inc. (NYSE:NC)?

Heading into Q3, a total of 6 of the hedge funds we track held long positions in this stock, a change of -25% from one quarter earlier. With the smart money’s capital changing hands, there exists an “upper tier” of notable hedge fund managers who were increasing their stakes significantly.

When using filings from the hedgies we track, AQR Capital Management, managed by Cliff Asness, holds the most valuable position in NACCO Industries, Inc. (NYSE:NC). AQR Capital Management has a $6 million position in the stock, comprising less than 0.1%% of its 13F portfolio. The second largest stake is held by Moab Capital Partners, managed by Michael M. Rothenberg and David Sackler, which held a $0.5 million position; the fund has 0.3% of its 13F portfolio invested in the stock. Some other peers that are bullish include Peter Algert and Kevin Coldiron’s Algert Coldiron Investors, D. E. Shaw’s D E Shaw and John Overdeck and David Siegel’s Two Sigma Advisors.

Because NACCO Industries, Inc. (NYSE:NC) has witnessed a fall in interest from the smart money’s best and brightest, we can see that there is a sect of fund managers that decided to sell off their positions entirely in Q1. Interestingly, Israel Englander’s Millennium Management dumped the biggest investment of the “upper crust” of funds we monitor, valued at an estimated $0.8 million in stock, and Ken Griffin of Citadel Investment Group was right behind this move, as the fund dropped about $0.4 million worth. These bearish behaviors are interesting, as total hedge fund interest dropped by 2 funds in Q1.

How have insiders been trading NACCO Industries, Inc. (NYSE:NC)?

Insider buying is best served when the company in focus has experienced transactions within the past 180 days. Over the latest 180-day time period, NACCO Industries, Inc. (NYSE:NC) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

We’ll also take a look at the relationship between both of these indicators in other stocks similar to NACCO Industries, Inc. (NYSE:NC). These stocks are Lindsay Corporation (NYSE:LNN), Astec Industries, Inc. (NASDAQ:ASTE), Cascade Corporation (NYSE:CASC), Alamo Group, Inc. (NYSE:ALG), and Columbus McKinnon Corp. (NASDAQ:CMCO). This group of stocks are in the farm & construction machinery industry and their market caps resemble NC’s market cap.

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