Hyster-Yale Materials Handling, Inc. (NYSE:HY) Increases Dividend to $0.32 Per Share

Hyster-Yale Materials Handling, Inc. (NYSE:HYGet Rating) declared a quarterly dividend on Thursday, May 12th, Wall Street Journal reports. Stockholders of record on Wednesday, June 1st will be given a dividend of 0.3225 per share by the industrial products company on Wednesday, June 15th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Tuesday, May 31st. This is a positive change from Hyster-Yale Materials Handling’s previous quarterly dividend of $0.32.

Hyster-Yale Materials Handling has raised its dividend payment by an average of 1.4% annually over the last three years and has increased its dividend every year for the last 1 years. Hyster-Yale Materials Handling has a payout ratio of 50.6% indicating that its dividend is sufficiently covered by earnings.

NYSE:HY opened at $32.92 on Friday. The stock’s 50 day moving average price is $33.47 and its 200 day moving average price is $38.84. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.50 and a current ratio of 1.17. Hyster-Yale Materials Handling has a 52-week low of $29.95 and a 52-week high of $79.66.

Hyster-Yale Materials Handling (NYSE:HYGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The industrial products company reported ($1.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.55). Hyster-Yale Materials Handling had a negative return on equity of 31.58% and a negative net margin of 6.42%.

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its holdings in Hyster-Yale Materials Handling by 107.1% during the second quarter. Royal Bank of Canada now owns 783 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 405 shares during the last quarter. Advisor Group Holdings Inc. increased its position in Hyster-Yale Materials Handling by 823.5% during the first quarter. Advisor Group Holdings Inc. now owns 785 shares of the industrial products company’s stock worth $26,000 after buying an additional 700 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Hyster-Yale Materials Handling by 12.3% during the third quarter. BNP Paribas Arbitrage SA now owns 4,376 shares of the industrial products company’s stock worth $220,000 after buying an additional 478 shares in the last quarter. MetLife Investment Management LLC increased its position in Hyster-Yale Materials Handling by 53.7% during the first quarter. MetLife Investment Management LLC now owns 5,807 shares of the industrial products company’s stock worth $193,000 after buying an additional 2,030 shares in the last quarter. Finally, Credit Suisse AG increased its position in Hyster-Yale Materials Handling by 19.7% during the fourth quarter. Credit Suisse AG now owns 6,008 shares of the industrial products company’s stock worth $247,000 after buying an additional 988 shares in the last quarter. 54.79% of the stock is owned by hedge funds and other institutional investors.

Separately, StockNews.com raised Hyster-Yale Materials Handling from a “sell” rating to a “hold” rating in a report on Wednesday, May 4th.

Hyster-Yale Materials Handling Company Profile (Get Rating)

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.

Further Reading

Dividend History for Hyster-Yale Materials Handling (NYSE:HY)

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