Hyster-Yale Materials Handling (NYSE:HY) Shares Gap Up – Time to Buy?

Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) gapped up before the market opened on Friday . The stock had previously closed at $53.00, but opened at $55.04. Hyster-Yale Materials Handling shares last traded at $54.62, with a volume of 21,061 shares trading hands.

Analyst Ratings Changes

A number of brokerages recently commented on HY. StockNews.com cut Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Roth Mkm decreased their price objective on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Northland Capmk cut Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Hyster-Yale Materials Handling Stock Performance

The company has a current ratio of 1.36, a quick ratio of 0.61 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $61.77 and its two-hundred day moving average is $66.48. The company has a market cap of $930.48 million, a PE ratio of 5.97 and a beta of 1.32.

Hyster-Yale Materials Handling (NYSE:HY) last posted its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.97 by ($1.00). Hyster-Yale Materials Handling had a return on equity of 34.77% and a net margin of 3.68%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the firm posted $2.06 earnings per share. On average, equities research analysts anticipate that Hyster-Yale Materials Handling, Inc. will post 8.85 EPS for the current year.

Hyster-Yale Materials Handling Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.40 annualized dividend and a yield of 2.63%. Hyster-Yale Materials Handling’s payout ratio is 15.71%.

Institutional Trading of Hyster-Yale Materials Handling

Several hedge funds have recently bought and sold shares of the stock. CWM LLC lifted its position in shares of Hyster-Yale Materials Handling by 0.5% in the second quarter. CWM LLC now owns 41,992 shares of the industrial products company’s stock worth $2,928,000 after buying an additional 192 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Hyster-Yale Materials Handling by 4.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,442 shares of the industrial products company’s stock worth $310,000 after acquiring an additional 200 shares in the last quarter. Summit Global Investments boosted its position in shares of Hyster-Yale Materials Handling by 2.4% during the 2nd quarter. Summit Global Investments now owns 10,334 shares of the industrial products company’s stock valued at $721,000 after acquiring an additional 240 shares during the last quarter. Mcdonald Partners LLC grew its holdings in shares of Hyster-Yale Materials Handling by 0.9% in the second quarter. Mcdonald Partners LLC now owns 40,256 shares of the industrial products company’s stock valued at $2,807,000 after purchasing an additional 352 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Hyster-Yale Materials Handling by 0.5% in the second quarter. AQR Capital Management LLC now owns 76,587 shares of the industrial products company’s stock worth $5,340,000 after purchasing an additional 363 shares during the last quarter. Hedge funds and other institutional investors own 46.47% of the company’s stock.

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.