Matt Franz : Zealous For Knowledge

NACCO Industries

NACCO Industries recently announced a spinoff, expected by the end of September 2017, that will separate NACCO’s North American Coal subsidiary from Hamilton Beach and Kitchen Collective. I value NACCO using the sum-of-the-parts technique and find that NACCO is currently undervalued. The upcoming spinoff could be a catalyst to closing the valuation gap.

My full notes and valuation are here.

This is not a recommendation to buy or sell any stock mentioned. I do not have a position in any stock mentioned. Do your own research: you are accountable for your own returns. Please read my full disclosure.



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