Hyster-Yale Materials Handling (NYSE:HY) Trading Up 3.6% – What’s Next?

Hyster-Yale Materials Handling, Inc. (NYSE:HY)’s share price was up 3.6% during mid-day trading on Friday . The company traded as high as $51.56 and last traded at $51.56. Approximately 18,939 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 91,425 shares. The stock had previously closed at $49.77.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HY. StockNews.com downgraded shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Roth Mkm lowered their target price on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.00.

Hyster-Yale Materials Handling Price Performance

The company has a market capitalization of $883.45 million, a P/E ratio of 5.66 and a beta of 1.25. The company has a quick ratio of 0.61, a current ratio of 1.36 and a debt-to-equity ratio of 0.46. The business has a 50 day simple moving average of $58.13 and a 200-day simple moving average of $63.65.

Hyster-Yale Materials Handling (NYSE:HY) last issued its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.97 by ($1.00). Hyster-Yale Materials Handling had a net margin of 3.68% and a return on equity of 34.77%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the business earned $2.06 earnings per share. Analysts predict that Hyster-Yale Materials Handling, Inc. will post 8.85 EPS for the current fiscal year.

Hyster-Yale Materials Handling Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.40 annualized dividend and a dividend yield of 2.77%. Hyster-Yale Materials Handling’s dividend payout ratio is presently 15.71%.

Hyster-Yale Materials Handling announced that its board has approved a stock repurchase plan on Monday, November 18th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Hyster-Yale Materials Handling

A number of hedge funds and other institutional investors have recently modified their holdings of HY. Bank of New York Mellon Corp increased its position in shares of Hyster-Yale Materials Handling by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 115,550 shares of the industrial products company’s stock valued at $8,057,000 after purchasing an additional 2,619 shares during the period. Panagora Asset Management Inc. grew its holdings in Hyster-Yale Materials Handling by 3.3% during the second quarter. Panagora Asset Management Inc. now owns 48,329 shares of the industrial products company’s stock worth $3,370,000 after acquiring an additional 1,553 shares during the period. Commonwealth Equity Services LLC bought a new stake in Hyster-Yale Materials Handling in the second quarter worth about $531,000. Rhumbline Advisers lifted its holdings in Hyster-Yale Materials Handling by 14.9% in the 2nd quarter. Rhumbline Advisers now owns 17,581 shares of the industrial products company’s stock valued at $1,226,000 after acquiring an additional 2,282 shares during the last quarter. Finally, Privium Fund Management UK Ltd bought a new position in shares of Hyster-Yale Materials Handling during the 2nd quarter valued at about $1,235,000. 46.47% of the stock is currently owned by institutional investors.

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.