Hyster-Yale Materials Handling (NYSE:HY) Rating Lowered to “Hold” at StockNews.com

StockNews.com cut shares of Hyster-Yale Materials Handling (NYSE:HY) from a buy rating to a hold rating in a research note released on Wednesday.

HY has been the topic of several other research reports. Northland Capmk cut Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Roth Mkm cut their price target on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Hyster-Yale Materials Handling presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

Hyster-Yale Materials Handling Price Performance

Shares of NYSE HY opened at $53.49 on Wednesday. The stock has a market cap of $936.08 million, a P/E ratio of 6.00 and a beta of 1.32. Hyster-Yale Materials Handling has a twelve month low of $43.98 and a twelve month high of $84.44. The stock has a 50 day moving average of $62.45 and a two-hundred day moving average of $66.72. The company has a current ratio of 1.36, a quick ratio of 0.63 and a debt-to-equity ratio of 0.46.

Hyster-Yale Materials Handling (NYSE:HY) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.97 EPS 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 business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the company earned $2.06 EPS. On average, research analysts forecast that Hyster-Yale Materials Handling will post 9.69 earnings per share for the current year.

Hyster-Yale Materials Handling Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.62%. The ex-dividend date was Friday, August 30th. Hyster-Yale Materials Handling’s payout ratio is 15.71%.

Institutional Investors Weigh In On Hyster-Yale Materials Handling

A number of hedge funds and other institutional investors have recently bought and sold shares of HY. Acadian Asset Management LLC increased its holdings in shares of Hyster-Yale Materials Handling by 63.7% in the 2nd quarter. Acadian Asset Management LLC now owns 220,865 shares of the industrial products company’s stock valued at $15,390,000 after purchasing an additional 85,906 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Hyster-Yale Materials Handling by 149.8% during the 2nd quarter. American Century Companies Inc. now owns 151,241 shares of the industrial products company’s stock worth $10,546,000 after acquiring an additional 90,696 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Hyster-Yale Materials Handling by 298.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 132,136 shares of the industrial products company’s stock worth $8,479,000 after acquiring an additional 98,996 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Hyster-Yale Materials Handling by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 115,550 shares of the industrial products company’s stock worth $8,057,000 after acquiring an additional 2,619 shares during the period. Finally, Swedbank AB purchased a new position in Hyster-Yale Materials Handling in the 1st quarter valued at approximately $5,519,000. Institutional investors and hedge funds own 46.47% of the company’s stock.

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.