Hyster-Yale Materials Handling, Inc. (NYSE:HY) to Issue $0.35 Quarterly Dividend

Hyster-Yale Materials Handling, Inc. (NYSE:HY) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.35 per share by the industrial products company on Friday, March 14th. This represents a $1.40 dividend on an annualized basis and a yield of 2.73%.

Hyster-Yale Materials Handling has increased its dividend payment by an average of 2.3% per year over the last three years. Hyster-Yale Materials Handling has a dividend payout ratio of 23.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Hyster-Yale Materials Handling to earn $5.39 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 26.0%.

Hyster-Yale Materials Handling Trading Down 2.6 %

Shares of HY stock traded down $1.36 on Wednesday, reaching $51.37. 47,088 shares of the stock were exchanged, compared to its average volume of 67,100. The stock has a 50 day moving average price of $52.54 and a 200 day moving average price of $58.52. The stock has a market cap of $899.49 million, a PE ratio of 5.77 and a beta of 1.26. Hyster-Yale Materials Handling has a one year low of $48.73 and a one year high of $84.44. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.61.

Analysts Set New Price Targets

Several research firms have recently issued reports on HY. Roth Mkm reduced their price target on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. StockNews.com lowered Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Hyster-Yale Materials Handling currently has an average rating of “Moderate Buy” and a consensus target price of $80.00.

Hyster-Yale Materials Handling declared that its board has initiated a share repurchase plan on Monday, November 18th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 5.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Hyster-Yale Materials Handling Company Profile

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.