Hyster-Yale Materials Handling, Inc. (NYSE:HY) Declares Quarterly Dividend of $0.35

Hyster-Yale Materials Handling, Inc. (NYSE:HY) announced a quarterly dividend on Wednesday, February 12th,RTT News reports. Investors of record on Friday, February 28th will be paid a dividend of 0.35 per share by the industrial products company on Friday, March 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.73%.

Hyster-Yale Materials Handling has raised its dividend payment by an average of 2.3% annually over the last three years. Hyster-Yale Materials Handling has a dividend payout ratio of 23.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Hyster-Yale Materials Handling to earn $5.39 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 26.0%.

Hyster-Yale Materials Handling Stock Down 2.6 %

NYSE HY traded down $1.36 on Wednesday, reaching $51.37. The company had a trading volume of 47,088 shares, compared to its average volume of 67,100. The company’s fifty day moving average is $52.54 and its 200-day moving average is $58.52. The firm has a market capitalization of $899.49 million, a price-to-earnings ratio of 5.77 and a beta of 1.26. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.61 and a current ratio of 1.36. Hyster-Yale Materials Handling has a 1-year low of $48.73 and a 1-year high of $84.44.

Hyster-Yale Materials Handling declared that its board has authorized a stock repurchase program on Monday, November 18th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the industrial products company to repurchase up to 5.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HY. Roth Mkm dropped their target price on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. StockNews.com cut shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Hyster-Yale Materials Handling currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

Hyster-Yale Materials Handling Company Profile

Hyster-Yale, Inc, through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks, attachments, and aftermarket parts worldwide. The company manufactures components, such as frames, masts, and transmissions; and assembles lift trucks. It markets its products primarily under the Hyster and Yale brand names to independent Hyster and Yale retail dealerships.