Hyster-Yale Materials Handling, Inc. (NYSE:HY) Short Interest Down 6.3% in August

Hyster-Yale Materials Handling, Inc. (NYSE:HY) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 646,700 shares, a drop of 6.3% from the August 15th total of 690,100 shares. Currently, 7.2% of the shares of the company are sold short. Based on an average trading volume of 88,400 shares, the days-to-cover ratio is presently 7.3 days.

Hyster-Yale Materials Handling Trading Up 3.4 %

NYSE:HY opened at $62.36 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.63 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 7.23 and a beta of 1.31. The firm has a fifty day simple moving average of $65.33 and a two-hundred day simple moving average of $66.03. Hyster-Yale Materials Handling has a 12 month low of $38.50 and a 12 month high of $84.44.

Hyster-Yale Materials Handling (NYSE:HY) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $3.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $1.30. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.08 billion. Hyster-Yale Materials Handling had a net margin of 4.13% and a return on equity of 44.49%. During the same period last year, the firm earned $2.21 earnings per share. Analysts expect that Hyster-Yale Materials Handling will post 9.69 EPS for the current fiscal year.

Hyster-Yale Materials Handling Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.35 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.40 annualized dividend and a dividend yield of 2.25%. Hyster-Yale Materials Handling’s payout ratio is 16.22%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on HY shares. Northland Securities raised shares of Hyster-Yale Materials Handling from a “market perform” rating to an “outperform” rating and set a $90.00 price target for the company in a report on Wednesday, June 5th. StockNews.com downgraded shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Tuesday, September 10th. Roth Mkm reaffirmed a “buy” rating and set a $84.00 price target (down previously from $87.00) on shares of Hyster-Yale Materials Handling in a report on Thursday, August 8th. Finally, Northland Capmk downgraded shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.00.

Hedge Funds Weigh In On Hyster-Yale Materials Handling

Several hedge funds have recently bought and sold shares of HY. EntryPoint Capital LLC purchased a new position in Hyster-Yale Materials Handling in the 1st quarter worth approximately $27,000. Quest Partners LLC raised its holdings in Hyster-Yale Materials Handling by 6,692.3% during the 2nd quarter. Quest Partners LLC now owns 883 shares of the industrial products company’s stock valued at $62,000 after buying an additional 870 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in Hyster-Yale Materials Handling during the 2nd quarter valued at $67,000. DekaBank Deutsche Girozentrale raised its holdings in Hyster-Yale Materials Handling by 67.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,356 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 548 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in Hyster-Yale Materials Handling in the 1st quarter worth $190,000. Hedge funds and other institutional investors own 46.47% of the company’s stock.

About Hyster-Yale Materials Handling

Hyster-Yale Materials Handling, 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.