Hyster-Yale Materials Handling (NYSE:HY) Shares Gap Up to $69.35

Hyster-Yale Materials Handling, Inc. (NYSE:HYGet Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $69.35, but opened at $71.44. Hyster-Yale Materials Handling shares last traded at $70.56, with a volume of 7,487 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HY. Northland Securities upgraded Hyster-Yale Materials Handling from a “market perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a report on Wednesday. StockNews.com downgraded Hyster-Yale Materials Handling from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 28th. Northland Capmk upgraded Hyster-Yale Materials Handling from a “hold” rating to a “strong-buy” rating in a report on Wednesday. TheStreet downgraded Hyster-Yale Materials Handling from a “b-” rating to a “c” rating in a research note on Monday, March 4th. Finally, Roth Mkm restated a “buy” rating and set a $87.00 price target (up previously from $85.00) on shares of Hyster-Yale Materials Handling in a research note on Thursday, May 9th. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $88.50.

Get Our Latest Stock Analysis on Hyster-Yale Materials Handling

Hyster-Yale Materials Handling Stock Up 1.9 %

The business has a 50 day moving average of $67.05 and a 200-day moving average of $62.96. The stock has a market cap of $1.28 billion, a PE ratio of 8.46 and a beta of 1.42. The company has a current ratio of 1.25, a quick ratio of 0.56 and a debt-to-equity ratio of 0.58.

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, topping 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, Inc. will post 7.68 EPS for the current fiscal year.

Hyster-Yale Materials Handling Increases Dividend

The business also recently disclosed 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. This represents a $1.40 dividend on an annualized basis and a yield of 1.92%. This is a boost from Hyster-Yale Materials Handling’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, May 31st. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is presently 16.22%.

Institutional Trading of Hyster-Yale Materials Handling

Hedge funds have recently added to or reduced their stakes in the stock. Campbell & CO Investment Adviser LLC lifted its position in Hyster-Yale Materials Handling by 277.7% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 27,824 shares of the industrial products company’s stock worth $1,730,000 after acquiring an additional 20,457 shares during the period. Hillsdale Investment Management Inc. lifted its position in Hyster-Yale Materials Handling by 92,150.0% during the 4th quarter. Hillsdale Investment Management Inc. now owns 92,250 shares of the industrial products company’s stock worth $5,737,000 after acquiring an additional 92,150 shares during the period. Assenagon Asset Management S.A. lifted its position in Hyster-Yale Materials Handling by 86.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 124,733 shares of the industrial products company’s stock worth $7,757,000 after acquiring an additional 57,758 shares during the period. Cornercap Investment Counsel Inc. lifted its position in Hyster-Yale Materials Handling by 0.8% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 21,398 shares of the industrial products company’s stock worth $1,331,000 after acquiring an additional 163 shares during the period. Finally, Vanguard Group Inc. lifted its position in Hyster-Yale Materials Handling by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 945,578 shares of the industrial products company’s stock worth $42,154,000 after acquiring an additional 12,747 shares during the period. 46.47% of the stock is owned by institutional investors and hedge funds.

About Hyster-Yale Materials Handling

(Get Free Report)

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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