Hyster-Yale Materials Handling, Inc. Declares Quarterly Dividend of $0.35 (NYSE:HY)

Hyster-Yale Materials Handling, Inc. (NYSE:HY) declared a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Stockholders of record on Friday, November 29th will be paid a dividend of 0.35 per share by the industrial products company on Friday, December 13th. This represents a $1.40 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Friday, November 29th.

Hyster-Yale Materials Handling has raised its dividend payment by an average of 0.7% annually over the last three years and has increased its dividend every year for the last 13 years. Hyster-Yale Materials Handling has a dividend payout ratio of 26.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Hyster-Yale Materials Handling to earn $5.39 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 26.0%.

Hyster-Yale Materials Handling Price Performance

Shares of Hyster-Yale Materials Handling stock traded down $0.16 on Thursday, hitting $53.00. 79,170 shares of the company were exchanged, compared to its average volume of 92,403. The stock has a market capitalization of $927.50 million, a price-to-earnings ratio of 5.95 and a beta of 1.32. The company has a 50-day moving average price of $61.98 and a 200 day moving average price of $66.62. Hyster-Yale Materials Handling has a 1-year low of $46.25 and a 1-year high of $84.44. The company has a quick ratio of 0.61, a current ratio of 1.36 and a debt-to-equity ratio of 0.46.

Hyster-Yale Materials Handling (NYSE:HY) last issued its earnings results on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.97 by ($1.00). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.06 billion. Hyster-Yale Materials Handling had a return on equity of 34.77% and a net margin of 3.68%. During the same quarter in the prior year, the firm earned $2.06 earnings per share. As a group, sell-side analysts predict that Hyster-Yale Materials Handling will post 8.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. 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 report on Wednesday, November 6th. Northland Capmk cut Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, StockNews.com downgraded Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $80.00.

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.