Hyster-Yale Materials Handling (NYSE:HY) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Hyster-Yale Materials Handling (NYSE:HY) from a hold rating to a buy rating in a research report released on Tuesday morning.

A number of other research firms have also weighed in 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 for the company in a research note on Wednesday, June 5th. Northland Capmk cut Hyster-Yale Materials Handling from a strong-buy rating to a hold rating in a research report on Wednesday, August 7th. Finally, Roth Mkm restated a buy rating and issued a $84.00 price objective (down previously from $87.00) on shares of Hyster-Yale Materials Handling in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Hyster-Yale Materials Handling presently has an average rating of Moderate Buy and a consensus price target of $87.00.

Hyster-Yale Materials Handling Price Performance

Shares of NYSE HY opened at $63.73 on Tuesday. Hyster-Yale Materials Handling has a 52 week low of $38.50 and a 52 week high of $84.44. The business’s 50 day moving average price is $64.29 and its 200 day moving average price is $66.16. The company has a quick ratio of 0.63, a current ratio of 1.31 and a debt-to-equity ratio of 0.53. The firm has a market cap of $1.12 billion, a P/E ratio of 7.38 and a beta of 1.31.

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

Hyster-Yale Materials Handling Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.35 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.40 annualized dividend and a dividend yield of 2.20%. Hyster-Yale Materials Handling’s dividend payout ratio is presently 16.22%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Hyster-Yale Materials Handling by 29.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 287,698 shares of the industrial products company’s stock worth $18,462,000 after acquiring an additional 65,708 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Hyster-Yale Materials Handling by 63.7% in the second quarter. Acadian Asset Management LLC now owns 220,865 shares of the industrial products company’s stock worth $15,390,000 after buying an additional 85,906 shares in the last quarter. American Century Companies Inc. boosted its position in Hyster-Yale Materials Handling by 149.8% during the second quarter. American Century Companies Inc. now owns 151,241 shares of the industrial products company’s stock worth $10,546,000 after acquiring an additional 90,696 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings 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 last quarter. Finally, Bank of New York Mellon Corp lifted its position in Hyster-Yale Materials Handling by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 115,550 shares of the industrial products company’s stock worth $8,057,000 after buying an additional 2,619 shares in the last quarter. 46.47% of the stock is owned by institutional investors and hedge funds.

About Hyster-Yale Materials Handling

Hyster-Yale, 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.