Short Interest in Hyster-Yale Materials Handling, Inc. (NYSE:HY) Drops By 6.3%

Hyster-Yale Materials Handling, Inc. (NYSE:HY) saw a large decrease in short interest in August. As of August 31st, there was short interest totalling 646,700 shares, a decrease of 6.3% from the August 15th total of 690,100 shares. Based on an average daily volume of 88,400 shares, the days-to-cover ratio is currently 7.3 days. Approximately 7.2% of the shares of the stock are sold short.

Hyster-Yale Materials Handling Stock Performance

HY stock traded down $0.30 during midday trading on Wednesday, hitting $60.58. The company’s stock had a trading volume of 1,026 shares, compared to its average volume of 95,546. The stock’s 50-day moving average price is $65.57 and its 200 day moving average price is $66.10. The company has a quick ratio of 0.63, a current ratio of 1.31 and a debt-to-equity ratio of 0.53. Hyster-Yale Materials Handling has a 1 year low of $38.50 and a 1 year high of $84.44. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 7.06 and a beta of 1.31.

Hyster-Yale Materials Handling (NYSE:HY) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $3.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $1.30. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.08 billion. Hyster-Yale Materials Handling had a return on equity of 44.49% and a net margin of 4.13%. During the same period in the previous year, the company posted $2.21 earnings per share. On average, equities analysts forecast that Hyster-Yale Materials Handling will post 9.69 EPS for the current year.

Hyster-Yale Materials Handling Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.31%. Hyster-Yale Materials Handling’s payout ratio is 16.22%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HY. Roth Mkm reaffirmed a “buy” rating and issued a $84.00 price objective (down from $87.00) on shares of Hyster-Yale Materials Handling in a research note on Thursday, August 8th. StockNews.com lowered Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Northland Securities raised Hyster-Yale Materials Handling from a “market perform” rating to an “outperform” rating and set a $90.00 price target on the stock in a research note on Wednesday, June 5th. Finally, Northland Capmk lowered Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $87.00.

Hedge Funds Weigh In On Hyster-Yale Materials Handling

Institutional investors have recently added to or reduced their stakes in the business. Campbell & CO Investment Adviser LLC increased its stake in Hyster-Yale Materials Handling by 277.7% in 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 last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Hyster-Yale Materials Handling by 29.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 287,698 shares of the industrial products company’s stock valued at $18,462,000 after acquiring an additional 65,708 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Hyster-Yale Materials Handling by 296.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,397 shares of the industrial products company’s stock worth $1,566,000 after acquiring an additional 18,247 shares in the last quarter. Swedbank AB purchased a new position in shares of Hyster-Yale Materials Handling during the first quarter worth approximately $5,519,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of Hyster-Yale Materials Handling by 77.2% in the 1st quarter. Acadian Asset Management LLC now owns 134,959 shares of the industrial products company’s stock worth $8,656,000 after acquiring an additional 58,814 shares during the last quarter. 46.47% of the stock is currently owned by 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. 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.