Hyster-Yale (NYSE:HY) Share Price Crosses Below 200-Day Moving Average – Time to Sell?

Hyster-Yale, Inc. (NYSE:HY) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $35.21 and traded as low as $31.85. Hyster-Yale shares last traded at $32.0930, with a volume of 83,064 shares traded.

Wall Street Analyst Weigh In

A number of analysts have weighed in on HY shares. Roth Mkm set a $40.00 price objective on shares of Hyster-Yale in a research note on Thursday, November 6th. Zacks Research raised shares of Hyster-Yale from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Hyster-Yale in a report on Thursday. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $40.00.

Hyster-Yale Price Performance

The stock has a market capitalization of $569.01 million, a P/E ratio of 229.25 and a beta of 1.45. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.68 and a current ratio of 1.39. The firm has a fifty day moving average price of $31.53 and a two-hundred day moving average price of $35.21.

Hyster-Yale (NYSE:HY) last posted its quarterly earnings data on Tuesday, November 4th. The industrial products company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). Hyster-Yale had a net margin of 0.07% and a return on equity of 5.93%. The firm had revenue of $979.10 million for the quarter, compared to analysts’ expectations of $955.69 million. As a group, analysts expect that Hyster-Yale, Inc. will post 8.85 EPS for the current fiscal year.

Hyster-Yale Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 16th. Stockholders of record on Monday, December 1st were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, December 1st. Hyster-Yale’s dividend payout ratio is 1,028.57%.

Institutional Trading of Hyster-Yale

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Amundi boosted its stake in shares of Hyster-Yale by 10.1% during the 1st quarter. Amundi now owns 4,844 shares of the industrial products company’s stock worth $201,000 after acquiring an additional 444 shares during the last quarter. AQR Capital Management LLC raised its holdings in Hyster-Yale by 110.6% in the 1st quarter. AQR Capital Management LLC now owns 79,582 shares of the industrial products company’s stock worth $3,306,000 after purchasing an additional 41,795 shares during the period. Millennium Management LLC lifted its position in Hyster-Yale by 20.5% during the first quarter. Millennium Management LLC now owns 119,560 shares of the industrial products company’s stock valued at $4,967,000 after purchasing an additional 20,305 shares in the last quarter. Empowered Funds LLC grew its holdings in Hyster-Yale by 99.6% during the first quarter. Empowered Funds LLC now owns 48,701 shares of the industrial products company’s stock valued at $2,023,000 after purchasing an additional 24,302 shares during the period. Finally, Jane Street Group LLC increased its position in Hyster-Yale by 19.8% in the first quarter. Jane Street Group LLC now owns 35,034 shares of the industrial products company’s stock worth $1,455,000 after buying an additional 5,802 shares in the last quarter. 46.47% of the stock is owned by hedge funds and other institutional investors.

About Hyster-Yale

Hyster-Yale Materials Handling, Inc is a global manufacturer and distributor of a wide range of industrial lift trucks, container handlers and aftermarket parts and services. Operating under the Hyster and Yale brand names, the company designs, engineers and assembles counterbalanced lift trucks, narrow-aisle trucks and specialty vehicles for clients in distribution, manufacturing, retail and warehousing.

The company’s product portfolio includes electric, diesel and LPG-powered forklifts, as well as reach stackers, empty container handlers and terminal tractors.