North American Construction Group Ltd (NYSE:NOA) Sees Large Decline in Short Interest

North American Construction Group Ltd (NYSE:NOA) (TSE:NOA) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totalling 327,000 shares, a decline of 10.7% from the July 31st total of 366,000 shares. Based on an average daily volume of 121,100 shares, the short-interest ratio is presently 2.7 days. Approximately 1.4% of the company’s stock are sold short.

Several equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of North American Construction Group from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Thursday, August 8th. ValuEngine downgraded shares of North American Construction Group from a “buy” rating to a “hold” rating in a research report on Monday, June 3rd. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. North American Construction Group presently has an average rating of “Buy” and an average price target of $13.00.

Several large investors have recently bought and sold shares of NOA. Polar Asset Management Partners Inc. increased its position in shares of North American Construction Group by 113.8% during the second quarter. Polar Asset Management Partners Inc. now owns 1,337,818 shares of the oil and gas company’s stock worth $14,448,000 after acquiring an additional 712,015 shares in the last quarter. EAM Global Investors LLC bought a new stake in shares of North American Construction Group during the first quarter worth about $3,297,000. JPMorgan Chase & Co. increased its position in shares of North American Construction Group by 264.7% during the second quarter. JPMorgan Chase & Co. now owns 187,189 shares of the oil and gas company’s stock worth $1,999,000 after acquiring an additional 135,869 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of North American Construction Group during the second quarter worth about $1,023,000. Finally, CIBC Asset Management Inc increased its position in shares of North American Construction Group by 54.6% during the first quarter. CIBC Asset Management Inc now owns 254,806 shares of the oil and gas company’s stock worth $2,959,000 after acquiring an additional 89,996 shares in the last quarter. 55.97% of the stock is owned by institutional investors.

Shares of NYSE:NOA traded down $0.57 during midday trading on Friday, hitting $12.13. 108,731 shares of the company’s stock were exchanged, compared to its average volume of 131,652. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.83 and a quick ratio of 0.72. The stock has a 50 day moving average price of $11.78 and a 200-day moving average price of $11.61. The company has a market cap of $347.28 million, a PE ratio of 28.88 and a beta of 0.60. North American Construction Group has a 12 month low of $7.82 and a 12 month high of $13.62.

North American Construction Group (NYSE:NOA) (TSE:NOA) last posted its earnings results on Tuesday, July 30th. The oil and gas company reported $0.27 EPS for the quarter. The company had revenue of $132.28 million during the quarter. North American Construction Group had a net margin of 4.33% and a return on equity of 18.75%. On average, analysts anticipate that North American Construction Group will post 1.26 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Saturday, August 31st will be given a dividend of $0.015 per share. The ex-dividend date of this dividend is Thursday, August 29th. This is an increase from North American Construction Group’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a dividend yield of 0.49%. North American Construction Group’s payout ratio is presently 28.57%.

About North American Construction Group

North American Construction Group Ltd. engages in providing mining and heavy construction services. It offers their services to customers in the resource development and industrial construction sectors, primarily within Western Canada. The company focuses on supporting the construction and operation of surface mines, in the oil sands.

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