Hyster-Yale Materials Handling (NYSE:HY) Stock Price Up 3.6% – Here’s Why

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

Wall Street Analysts Forecast Growth

HY has been the topic of several research analyst reports. StockNews.com cut 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 price objective on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

Hyster-Yale Materials Handling Stock Up 1.4 %

The stock has a fifty day moving average price of $58.13 and a 200-day moving average price of $63.65. The firm has a market cap of $883.45 million, a PE ratio of 5.66 and a beta of 1.25. 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 (NYSE:HY) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the firm earned $2.06 earnings per share. Research analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.77%. The ex-dividend date was Friday, November 29th. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is presently 15.71%.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Covestor Ltd lifted its stake in shares of Hyster-Yale Materials Handling by 21,350.0% in the third quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 427 shares in the last quarter. Pinpoint Asset Management Ltd acquired a new position in shares of Hyster-Yale Materials Handling in the 3rd quarter valued at approximately $32,000. Quest Partners LLC boosted its stake in shares of 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. acquired a new stake in shares of Hyster-Yale Materials Handling during the second quarter worth approximately $67,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Hyster-Yale Materials Handling in the second quarter worth $194,000. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

About Hyster-Yale Materials Handling

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.