Trade Report: The National Interstate Corp. (NATL) Stake Increased by Bank of New York Mellon Corp

The National Interstate Corp. (NATL) Stake Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in National Interstate Corp. (NASDAQ:NATL) by 3.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,098 shares of the company’s stock after buying an additional 1,865 shares during the period. Bank of New York Mellon Corp owned about 0.27% of National Interstate Corp. worth $1,637,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of NATL. Springbok Capital Management LLC bought a new position in National Interstate Corp. during the first quarter worth about $135,000. Highland Capital Management LLC bought a new position in National Interstate Corp. during the second quarter worth about $206,000. Alpine Partners VI LLC bought a new position in National Interstate Corp. during the first quarter worth about $242,000. Strs Ohio bought a new position in National Interstate Corp. during the second quarter worth about $317,000. Finally, Spark Investment Management LLC raised its position in National Interstate Corp. by 47.2% in the first quarter. Spark Investment Management LLC now owns 15,900 shares of the company’s stock worth $475,000 after buying an additional 5,100 shares during the last quarter. Hedge funds and other institutional investors own 85.55% of the company’s stock.

National Interstate Corp. (NASDAQ:NATL) traded up 0.09% on Friday, hitting $32.43. The stock had a trading volume of 13,364 shares. National Interstate Corp. has a 12-month low of $21.15 and a 12-month high of $34.49. The company’s 50 day moving average price is $32.50 and its 200-day moving average price is $31.31. The company has a market cap of $646.23 million, a price-to-earnings ratio of 28.08 and a beta of 1.07.

National Interstate Corp. (NASDAQ:NATL) last posted its earnings results on Tuesday, August 2nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.11. National Interstate Corp. had a return on equity of 7.63% and a net margin of 3.57%. Equities research analysts anticipate that National Interstate Corp. will post $1.85 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Friday, September 2nd were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Wednesday, August 31st. National Interstate Corp.’s dividend payout ratio is currently 48.70%.

Separately, Zacks Investment Research raised National Interstate Corp. from a “hold” rating to a “strong-buy” rating and set a $37.00 target price on the stock in a report on Thursday, August 11th.

About National Interstate Corp.

National Interstate Corporation and its subsidiaries operate as an insurance holding company that underwrites and sells traditional and alternative property and casualty insurance products to the passenger transportation, trucking and moving and storage industries, general commercial insurance to small businesses in Hawaii and Alaska and personal insurance to owners of recreational vehicles throughout the United States.

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