Hyster-Yale Materials Handling (NYSE:HY) Trading Up 7.3% – Time to Buy?

Hyster-Yale Materials Handling, Inc. (NYSE:HY)’s stock price traded up 7.3% during trading on Monday . The company traded as high as $57.92 and last traded at $57.05. 15,602 shares were traded during trading, a decline of 83% from the average session volume of 92,117 shares. The stock had previously closed at $53.17.

Analyst Ratings Changes

HY has been the topic of a number of analyst reports. StockNews.com cut shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Roth Mkm cut their target price on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Northland Capmk cut Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Hyster-Yale Materials Handling currently has a consensus rating of “Moderate Buy” and an average price target of $80.00.

Hyster-Yale Materials Handling Stock Performance

The stock’s 50 day simple moving average is $61.77 and its two-hundred day simple moving average is $66.60. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.61. The stock has a market cap of $986.48 million, a P/E ratio of 6.40 and a beta of 1.32.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.97 by ($1.00). The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate 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 previous year, the business posted $2.06 earnings per share. As a group, research analysts forecast that Hyster-Yale Materials Handling, Inc. will post 8.85 EPS for the current year.

Hyster-Yale Materials Handling Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.48%. Hyster-Yale Materials Handling’s payout ratio is 15.71%.

Hedge Funds Weigh In On Hyster-Yale Materials Handling

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in Hyster-Yale Materials Handling by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 255,870 shares of the industrial products company’s stock valued at $16,320,000 after buying an additional 1,658 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Hyster-Yale Materials Handling by 63.7% in the second 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 during the last quarter. American Century Companies Inc. increased its stake in shares of Hyster-Yale Materials Handling by 149.8% during the second quarter. American Century Companies Inc. now owns 151,241 shares of the industrial products company’s stock worth $10,546,000 after purchasing an additional 90,696 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in Hyster-Yale Materials Handling by 298.7% during 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 purchasing an additional 98,996 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in 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 valued at $8,057,000 after purchasing an additional 2,619 shares during the period. Institutional investors and hedge funds own 46.47% of the company’s stock.

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.