Hyster-Yale Materials Handling (NYSE:HY) Raised to “Buy” at StockNews.com

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

Other analysts have also issued reports about the company. Northland Securities upgraded Hyster-Yale Materials Handling from a market perform rating to an outperform rating and set a $90.00 price objective on the stock in a research note on Wednesday, June 5th. Roth Mkm reissued a buy rating and issued a $84.00 price target (down from $87.00) on shares of Hyster-Yale Materials Handling in a report on Thursday, August 8th. Finally, Northland Capmk cut shares of Hyster-Yale Materials Handling from a strong-buy rating to a hold rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Hyster-Yale Materials Handling presently has a consensus rating of Moderate Buy and a consensus price target of $87.00.

Hyster-Yale Materials Handling Price Performance

NYSE HY opened at $61.74 on Tuesday. The company has a market cap of $1.08 billion, a PE ratio of 7.15 and a beta of 1.31. The company has a quick ratio of 0.63, a current ratio of 1.31 and a debt-to-equity ratio of 0.53. The firm’s 50-day simple moving average is $64.29 and its two-hundred day simple moving average is $66.16. Hyster-Yale Materials Handling has a 52 week low of $38.50 and a 52 week high of $84.44.

Hyster-Yale Materials Handling (NYSE:HY) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $3.58 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $1.30. Hyster-Yale Materials Handling had a net margin of 4.13% and a return on equity of 44.49%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the company posted $2.21 EPS. Research analysts predict that Hyster-Yale Materials Handling will post 9.69 earnings per share for the current year.

Hyster-Yale Materials Handling Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.35 per share. The ex-dividend date was Friday, August 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.27%. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is presently 16.22%.

Institutional Trading of Hyster-Yale Materials Handling

Several institutional investors and hedge funds have recently made changes to their positions in HY. CWM LLC lifted its position in Hyster-Yale Materials Handling by 0.5% in the 2nd quarter. CWM LLC now owns 41,992 shares of the industrial products company’s stock worth $2,928,000 after buying an additional 192 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Hyster-Yale Materials Handling by 4.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,442 shares of the industrial products company’s stock worth $310,000 after acquiring an additional 200 shares during the last quarter. Summit Global Investments boosted its stake in shares of Hyster-Yale Materials Handling by 2.4% in the 2nd quarter. Summit Global Investments now owns 10,334 shares of the industrial products company’s stock valued at $721,000 after purchasing an additional 240 shares in the last quarter. Mcdonald Partners LLC grew its holdings in shares of Hyster-Yale Materials Handling by 0.9% during the 2nd quarter. Mcdonald Partners LLC now owns 40,256 shares of the industrial products company’s stock valued at $2,807,000 after purchasing an additional 352 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Hyster-Yale Materials Handling by 0.5% in the 2nd quarter. AQR Capital Management LLC now owns 76,587 shares of the industrial products company’s stock worth $5,340,000 after purchasing an additional 363 shares during the period. Hedge funds and other institutional investors 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.