Hyster-Yale Materials Handling, Inc. (NYSE:HY) was upgraded by research analysts at TheStreet from a “c+” rating to a “b-” rating in a note issued to investors on Friday, May 12th.
HY has been the subject of several other reports. Zacks Investment Research raised Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research report on Saturday, March 4th. Robert W. Baird upgraded Hyster-Yale Materials Handling from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $62.00 to $84.00 in a research note on Tuesday, May 2nd. Finally, Seaport Global Securities upgraded Hyster-Yale Materials Handling from a “sell” rating to a “neutral” rating and set a $56.00 target price on the stock in a research note on Thursday, April 20th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $74.75.
Hyster-Yale Materials Handling (HY) traded down 0.33% on Friday, reaching $74.66. The company’s stock had a trading volume of 48,924 shares. Hyster-Yale Materials Handling has a one year low of $47.25 and a one year high of $76.48. The stock has a 50-day moving average of $72.88 and a 200-day moving average of $64.01. The stock has a market cap of $1.23 billion, a P/E ratio of 24.08 and a beta of 1.05.
Hyster-Yale Materials Handling (NYSE:HY) last issued its earnings results on Tuesday, May 2nd. The industrial products company reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.50. The business had revenue of $713.10 million during the quarter, compared to analyst estimates of $668.33 million. Hyster-Yale Materials Handling had a return on equity of 10.53% and a net margin of 1.90%. Hyster-Yale Materials Handling’s revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 EPS. On average, analysts predict that Hyster-Yale Materials Handling will post $3.74 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were issued a $0.3025 dividend. This is a boost from Hyster-Yale Materials Handling’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $1.21 dividend on an annualized basis and a yield of 1.62%. Hyster-Yale Materials Handling’s dividend payout ratio is presently 39.03%.
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In related news, insider Frank F. Taplin sold 1,400 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $73.93, for a total value of $103,502.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cory Freyer sold 3,128 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $74.81, for a total value of $234,005.68. Following the completion of the transaction, the insider now owns 8,000 shares of the company’s stock, valued at $598,480. The disclosure for this sale can be found here. Corporate insiders own 26.34% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Hyster-Yale Materials Handling during the first quarter valued at $110,000. Comerica Bank purchased a new position in Hyster-Yale Materials Handling during the first quarter valued at approximately $205,000. Menta Capital LLC purchased a new position in Hyster-Yale Materials Handling during the fourth quarter valued at approximately $274,000. American International Group Inc. raised its position in Hyster-Yale Materials Handling by 7.0% in the first quarter. American International Group Inc. now owns 5,802 shares of the industrial products company’s stock valued at $327,000 after buying an additional 381 shares in the last quarter. Finally, Nine Chapters Capital Management LLC purchased a new position in Hyster-Yale Materials Handling during the first quarter valued at approximately $395,000. Institutional investors own 67.96% of the company’s stock.
Hyster-Yale Materials Handling Company Profile
Hyster-Yale Materials Handling, Inc is a lift truck manufacturer. The Company designs, engineers, manufactures, sells and services a line of lift trucks, attachments and aftermarket parts marketed globally under the Hyster and Yale brand names, mainly to independent Hyster and Yale retail dealerships.
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