Hyster-Yale Materials Handling (NYSE:HY) Price Target Raised to $66.00

Hyster-Yale Materials Handling (NYSE:HY) had its price objective hoisted by Sidoti from $59.00 to $66.00 in a research report released on Friday morning, BenzingaRatingsTable reports. Sidoti currently has a buy rating on the industrial products company’s stock.

HY opened at $54.06 on Friday. The company has a current ratio of 1.38, a quick ratio of 0.69 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $889.88 million, a P/E ratio of 49.94 and a beta of 1.43. Hyster-Yale Materials Handling has a 52-week low of $43.26 and a 52-week high of $76.79. The firm’s fifty day moving average is $52.31.

Hyster-Yale Materials Handling (NYSE:HY) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.14. The firm had revenue of $834.80 million for the quarter, compared to the consensus estimate of $833.70 million. Hyster-Yale Materials Handling had a net margin of 0.72% and a return on equity of 3.09%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the firm posted $0.90 earnings per share.

In other Hyster-Yale Materials Handling news, Chairman Alfred M. Et Al Rankin purchased 3,159 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were purchased at an average cost of $53.84 per share, with a total value of $170,080.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Alfred M. Et Al Rankin purchased 536 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was acquired at an average cost of $53.63 per share, for a total transaction of $28,745.68. The disclosure for this purchase can be found here. Over the last three months, insiders bought 25,202 shares of company stock worth $1,317,902. Insiders own 28.60% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Hyster-Yale Materials Handling by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 991,155 shares of the industrial products company’s stock worth $61,412,000 after buying an additional 16,705 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Hyster-Yale Materials Handling by 2.6% in the fourth quarter. BlackRock Inc. now owns 685,947 shares of the industrial products company’s stock worth $42,501,000 after buying an additional 17,447 shares in the last quarter. Norges Bank purchased a new position in Hyster-Yale Materials Handling during the fourth quarter worth about $9,489,000. Geode Capital Management LLC raised its stake in Hyster-Yale Materials Handling by 16.8% during the fourth quarter. Geode Capital Management LLC now owns 134,313 shares of the industrial products company’s stock worth $8,322,000 after purchasing an additional 19,331 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Hyster-Yale Materials Handling by 4.9% during the fourth quarter. Bank of New York Mellon Corp now owns 99,425 shares of the industrial products company’s stock worth $6,160,000 after purchasing an additional 4,689 shares during the period. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

About Hyster-Yale Materials Handling

Hyster-Yale Materials Handling, Inc, through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks, attachments, and aftermarket parts worldwide. It manufactures components, such as frames, masts, and transmissions; and assembles lift trucks. The company markets its products primarily under the Hyster and Yale brand names to independent Hyster and Yale retail dealerships.

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