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

Hyster-Yale Materials Handling, Inc. (NYSE:HY) announced a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Investors of record on Friday, November 29th will be given 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 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% per year over the last three years and has raised its dividend every year for the last 13 years. Hyster-Yale Materials Handling has a payout ratio of 26.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 HY stock traded down $0.16 during mid-day trading on Thursday, hitting $53.00. 79,170 shares of the stock were exchanged, compared to its average volume of 92,403. Hyster-Yale Materials Handling has a 52-week low of $46.25 and a 52-week 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. The company has a market cap of $927.50 million, a PE ratio of 6.04 and a beta of 1.32. The firm has a fifty day moving average of $61.98 and a 200 day moving average of $66.62.

Hyster-Yale Materials Handling (NYSE:HY) last posted its quarterly earnings data 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 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 company posted $2.06 earnings per share. Research analysts anticipate that Hyster-Yale Materials Handling will post 8.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HY. Roth Mkm lowered 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 report on Wednesday, August 7th. Finally, StockNews.com downgraded Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.