Zacks Investment Research Lowers Hyster-Yale Materials Handling (HY) to Sell

Zacks Investment Research downgraded shares of Hyster-Yale Materials Handling (NYSE:HY) from a hold rating to a sell rating in a report released on Wednesday morning.

According to Zacks, “Hyster-Yale Materials Handling, Inc. designs, engineers, manufactures, sells and services a comprehensive line of lift trucks, warehouse trucks, counterbalanced trucks, cargo, container handling trucks and aftermarket parts. The Company’s products are marketed globally under the Hyster(R) and Yale(R) brand names. It conducts its operations primarily in America, Europe and Asia-Pacific. Hyster-Yale Materials Handling, Inc. is based in Portland, Oregon. “

Other equities analysts have also issued research reports about the stock. Sidoti reaffirmed a neutral rating on shares of Hyster-Yale Materials Handling in a research note on Friday, October 13th. ValuEngine raised shares of Hyster-Yale Materials Handling from a hold rating to a buy rating in a research note on Sunday, December 31st. Finally, Seaport Global Securities lowered shares of Hyster-Yale Materials Handling from a neutral rating to a sell rating and set a $56.00 target price for the company. in a research note on Monday, November 6th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $74.00.

Hyster-Yale Materials Handling (NYSE:HY) traded down $0.41 during trading on Wednesday, reaching $85.91. 40,935 shares of the company were exchanged, compared to its average volume of 35,645. Hyster-Yale Materials Handling has a 1 year low of $53.50 and a 1 year high of $93.90. The company has a quick ratio of 1.02, a current ratio of 1.64 and a debt-to-equity ratio of 0.40. The firm has a market cap of $1,414.25, a price-to-earnings ratio of 24.34 and a beta of 1.09.

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a dividend of $0.3025 per share. This represents a $1.21 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Thursday, November 30th. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is currently 31.59%.

In other Hyster-Yale Materials Handling news, insider Frank F. Taplin sold 1,178 shares of Hyster-Yale Materials Handling stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $84.40, for a total transaction of $99,423.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 26.34% of the company’s stock.

Several large investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA raised its holdings in shares of Hyster-Yale Materials Handling by 519.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,624 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 1,362 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Hyster-Yale Materials Handling by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,119 shares of the industrial products company’s stock valued at $149,000 after purchasing an additional 319 shares in the last quarter. Simplex Trading LLC raised its holdings in shares of Hyster-Yale Materials Handling by 123.9% during the 3rd quarter. Simplex Trading LLC now owns 2,243 shares of the industrial products company’s stock valued at $171,000 after purchasing an additional 1,241 shares in the last quarter. Weik Investment Services Inc. bought a new position in shares of Hyster-Yale Materials Handling during the 2nd quarter valued at $211,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Hyster-Yale Materials Handling during the 2nd quarter valued at $216,000. 50.88% of the stock is owned by institutional investors.

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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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