Hyster-Yale Materials Handling (NYSE:HY) Price Target Lowered to $70.00 at Roth Mkm

Hyster-Yale Materials Handling (NYSE:HY) had its price target cut by Roth Mkm from $84.00 to $70.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other analysts have also issued reports on the company. StockNews.com upgraded Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Northland Capmk lowered shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research report 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.00.

Hyster-Yale Materials Handling Stock Up 1.0 %

NYSE HY traded up $0.58 on Wednesday, reaching $56.67. The company had a trading volume of 10,206 shares, compared to its average volume of 92,180. The company’s fifty day moving average is $62.77 and its 200 day moving average is $66.85. The stock has a market capitalization of $991.73 million, a P/E ratio of 5.61 and a beta of 1.32. 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 52-week low of $43.64 and a 52-week high of $84.44.

Hyster-Yale Materials Handling (NYSE:HY) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by ($1.00). The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Hyster-Yale Materials Handling had a net margin of 4.13% and a return on equity of 44.49%. During the same period in the prior year, the business earned $2.06 earnings per share. Sell-side analysts anticipate that Hyster-Yale Materials Handling will post 9.69 earnings per share for the current fiscal year.

Hyster-Yale Materials Handling Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.35 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.40 annualized dividend and a yield of 2.47%. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is presently 14.00%.

Institutional Trading of Hyster-Yale Materials Handling

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Hyster-Yale Materials Handling by 296.7% in 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 buying an additional 18,247 shares in the last quarter. Swedbank AB purchased a new stake in Hyster-Yale Materials Handling in the 1st quarter worth $5,519,000. Acadian Asset Management LLC boosted its holdings in shares of Hyster-Yale Materials Handling by 77.2% during the 1st quarter. Acadian Asset Management LLC now owns 134,959 shares of the industrial products company’s stock valued at $8,656,000 after purchasing an additional 58,814 shares during the last quarter. Sei Investments Co. grew its position in shares of Hyster-Yale Materials Handling by 24.8% during the second quarter. Sei Investments Co. now owns 44,166 shares of the industrial products company’s stock valued at $3,080,000 after purchasing an additional 8,764 shares in the last quarter. Finally, Inspire Investing LLC increased its holdings in shares of Hyster-Yale Materials Handling by 86.8% in the third quarter. Inspire Investing LLC now owns 20,299 shares of the industrial products company’s stock worth $1,294,000 after purchasing an additional 9,432 shares during the last quarter. 46.47% of the stock is owned by hedge funds and other institutional investors.

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.