Hyster-Yale Materials Handling (NYSE:HY) Upgraded to Outperform by Northland Securities

Northland Securities upgraded shares of Hyster-Yale Materials Handling (NYSE:HYFree Report) from a market perform rating to an outperform rating in a research note issued to investors on Wednesday, Marketbeat.com reports. They currently have $90.00 price target on the industrial products company’s stock.

Other analysts have also recently issued reports about the company. StockNews.com cut Hyster-Yale Materials Handling from a strong-buy rating to a buy rating in a research note on Wednesday, February 28th. Northland Capmk lowered Hyster-Yale Materials Handling from a strong-buy rating to a hold rating in a research report on Friday, May 10th. Roth Mkm reiterated a buy rating and issued a $87.00 price objective (up from $85.00) on shares of Hyster-Yale Materials Handling in a research report on Thursday, May 9th. Finally, TheStreet lowered Hyster-Yale Materials Handling from a b- rating to a c rating in a research report on Monday, March 4th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $88.50.

Check Out Our Latest Analysis on Hyster-Yale Materials Handling

Hyster-Yale Materials Handling Stock Up 3.4 %

Shares of NYSE:HY opened at $71.68 on Wednesday. The company’s fifty day moving average is $66.88 and its 200-day moving average is $62.89. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.56 and a current ratio of 1.25. Hyster-Yale Materials Handling has a 52 week low of $38.50 and a 52 week high of $79.66. The company has a market capitalization of $1.25 billion, a PE ratio of 8.31 and a beta of 1.42.

Hyster-Yale Materials Handling (NYSE:HYGet Free Report) last released its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.79. Hyster-Yale Materials Handling had a return on equity of 42.94% and a net margin of 3.61%. Equities research analysts predict that Hyster-Yale Materials Handling will post 7.68 earnings per share for the current fiscal year.

Hyster-Yale Materials Handling Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a dividend of $0.35 per share. The ex-dividend date is Friday, May 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.95%. This is an increase from Hyster-Yale Materials Handling’s previous quarterly dividend of $0.33. Hyster-Yale Materials Handling’s dividend payout ratio is 16.22%.

Institutional Investors Weigh In On Hyster-Yale Materials Handling

A number of institutional investors and hedge funds have recently made changes to their positions in HY. DekaBank Deutsche Girozentrale raised its stake in Hyster-Yale Materials Handling by 67.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,356 shares of the industrial products company’s stock valued at $83,000 after acquiring an additional 548 shares during the period. Swedbank AB bought a new stake in Hyster-Yale Materials Handling in the 1st quarter valued at $5,519,000. Jacobs Levy Equity Management Inc. raised its stake in Hyster-Yale Materials Handling by 298.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 132,136 shares of the industrial products company’s stock valued at $8,479,000 after acquiring an additional 98,996 shares during the period. Caxton Associates LP raised its stake in Hyster-Yale Materials Handling by 11.9% in the 1st quarter. Caxton Associates LP now owns 5,790 shares of the industrial products company’s stock valued at $372,000 after acquiring an additional 615 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Hyster-Yale Materials Handling by 296.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,397 shares of the industrial products company’s stock valued at $1,566,000 after acquiring an additional 18,247 shares during the period. Institutional investors own 46.47% of the company’s stock.

About Hyster-Yale Materials Handling

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Hyster-Yale Materials Handling, 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.

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