Hyster-Yale Materials Handling (NYSE:HY) Trading 7.3% Higher – What’s Next?

Hyster-Yale Materials Handling, Inc. (NYSE:HY) rose 7.3% during trading on Monday . The company traded as high as $57.92 and last traded at $57.05. Approximately 15,602 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 92,117 shares. The stock had previously closed at $53.17.

Wall Street Analyst Weigh In

HY has been the topic of a number of recent research reports. Northland Capmk downgraded shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. StockNews.com downgraded Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Roth Mkm cut their price objective 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Hyster-Yale Materials Handling Price Performance

The company has a fifty day simple moving average of $61.74 and a two-hundred day simple moving average of $66.58. 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 stock has a market capitalization of $946.66 million, a P/E ratio of 6.07 and a beta of 1.32.

Hyster-Yale Materials Handling (NYSE:HY) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by ($1.00). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.06 billion. Hyster-Yale Materials Handling had a net margin of 3.68% and a return on equity of 34.77%. During the same quarter in the prior year, the business earned $2.06 earnings per share. Sell-side analysts expect 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 declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 dividend yield of 2.59%. Hyster-Yale Materials Handling’s dividend payout ratio is currently 15.71%.

Hyster-Yale Materials Handling declared that its Board of Directors has approved a stock buyback program on Monday, November 18th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the industrial products company to reacquire up to 5.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Hyster-Yale Materials Handling

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EntryPoint Capital LLC acquired a new position in Hyster-Yale Materials Handling during the first quarter worth approximately $27,000. Covestor Ltd boosted its stake in shares of Hyster-Yale Materials Handling by 21,350.0% during the 3rd quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 427 shares during the period. Pinpoint Asset Management Ltd acquired a new position in shares of Hyster-Yale Materials Handling during the 3rd quarter worth approximately $32,000. Quest Partners LLC boosted its position in Hyster-Yale Materials Handling by 6,692.3% during the second quarter. Quest Partners LLC now owns 883 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 870 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Hyster-Yale Materials Handling in the second quarter valued at $67,000. 46.47% of the stock is 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.