Hyster-Yale Materials Handling, Inc. (NYSE:HY) Short Interest Down 7.5% in January

Hyster-Yale Materials Handling, Inc. (NYSE:HY) was the target of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 571,700 shares, a decrease of 7.5% from the January 15th total of 618,000 shares. Based on an average daily trading volume, of 80,400 shares, the short-interest ratio is presently 7.1 days. Approximately 6.5% of the shares of the company are sold short.

Hyster-Yale Materials Handling Stock Performance

Shares of HY stock traded up $0.48 during trading hours on Monday, reaching $52.81. 44,817 shares of the company’s stock were exchanged, compared to its average volume of 60,625. The company’s 50 day moving average is $52.23 and its two-hundred day moving average is $57.72. Hyster-Yale Materials Handling has a 1 year low of $48.73 and a 1 year high of $84.44. The company has a market cap of $924.70 million, a P/E ratio of 5.93 and a beta of 1.26. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.61.

Hyster-Yale Materials Handling Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, February 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.65%. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is presently 15.71%.

Hyster-Yale Materials Handling announced that its Board of Directors has approved a stock buyback plan on Monday, November 18th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 5.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Roth Mkm dropped their target price on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. StockNews.com cut shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Institutional Trading of Hyster-Yale Materials Handling

Institutional investors have recently added to or reduced their stakes in the stock. Covestor Ltd raised its stake in shares of Hyster-Yale Materials Handling by 21,350.0% during the 3rd quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock worth $27,000 after buying an additional 427 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Hyster-Yale Materials Handling during the 4th quarter valued at about $27,000. Pinpoint Asset Management Ltd acquired a new position in Hyster-Yale Materials Handling during the third quarter worth about $32,000. Meeder Asset Management Inc. lifted its holdings in shares of Hyster-Yale Materials Handling by 421.8% in the fourth quarter. Meeder Asset Management Inc. now owns 741 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 599 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Hyster-Yale Materials Handling in the fourth quarter valued at approximately $76,000. Hedge funds and other institutional investors own 46.47% of the company’s stock.

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.