Hyster-Yale Materials Handling (NYSE:HY) Shares Gap Down – Here’s What Happened

Hyster-Yale Materials Handling, Inc. (NYSE:HY) shares gapped down prior to trading on Tuesday . The stock had previously closed at $62.68, but opened at $55.49. Hyster-Yale Materials Handling shares last traded at $51.19, with a volume of 19,885 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. StockNews.com lowered shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Wednesday. Roth Mkm dropped their price objective on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Northland Capmk lowered shares of 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $80.00.

Hyster-Yale Materials Handling Price Performance

The stock has a market cap of $981.58 million, a P/E ratio of 5.61 and a beta of 1.32. 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 company’s fifty day simple moving average is $62.77 and its 200-day simple moving average is $66.85.

Hyster-Yale Materials Handling (NYSE:HY) last posted its 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 business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted $2.21 earnings per share. As a group, sell-side analysts forecast that Hyster-Yale Materials Handling, Inc. will post 9.69 EPS for the current year.

Hyster-Yale Materials Handling Announces Dividend

The business also recently disclosed 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 of this dividend was Friday, August 30th. This represents a $1.40 annualized dividend and a dividend yield of 2.50%. Hyster-Yale Materials Handling’s dividend payout ratio is currently 14.00%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Hyster-Yale Materials Handling by 296.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,397 shares of the industrial products company’s stock valued at $1,566,000 after acquiring an additional 18,247 shares during the last quarter. Swedbank AB bought a new position in Hyster-Yale Materials Handling in the 1st quarter valued at $5,519,000. Acadian Asset Management LLC boosted its stake in Hyster-Yale Materials Handling by 77.2% in the first quarter. Acadian Asset Management LLC now owns 134,959 shares of the industrial products company’s stock worth $8,656,000 after purchasing an additional 58,814 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Hyster-Yale Materials Handling by 24.8% during the second quarter. Sei Investments Co. now owns 44,166 shares of the industrial products company’s stock worth $3,080,000 after purchasing an additional 8,764 shares during the last quarter. Finally, Inspire Investing LLC increased its stake in shares of Hyster-Yale Materials Handling by 86.8% in the third quarter. Inspire Investing LLC now owns 20,299 shares of the industrial products company’s stock valued at $1,294,000 after buying an additional 9,432 shares in the last quarter. 46.47% of the stock is currently owned by institutional investors and hedge funds.

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.