Hyster-Yale Materials Handling (NYSE:HY) Downgraded to “Hold” at StockNews.com

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

Several other research firms have also issued reports on HY. Roth Mkm restated a buy rating and set a $84.00 price target (down from $87.00) on shares of Hyster-Yale Materials Handling in a research report on Thursday, August 8th. 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. Finally, Northland Securities upgraded shares of Hyster-Yale Materials Handling from a market perform rating to an outperform rating and set a $90.00 price target for the company in a research report on Wednesday, June 5th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Hyster-Yale Materials Handling has an average rating of Moderate Buy and a consensus target price of $87.00.

Hyster-Yale Materials Handling Stock Up 3.3 %

HY opened at $59.68 on Tuesday. The stock has a market cap of $1.04 billion, a PE ratio of 6.92 and a beta of 1.31. 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 $38.50 and a 52 week high of $84.44. The business’s fifty day simple moving average is $65.80 and its 200 day simple moving average is $66.04.

Hyster-Yale Materials Handling (NYSE:HY) last released its earnings results on Tuesday, August 6th. The industrial products company reported $3.58 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $1.30. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm earned $2.21 earnings per share. As a group, research analysts expect that Hyster-Yale Materials Handling will post 9.69 earnings per share for the current fiscal year.

Hyster-Yale Materials Handling Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued 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 2.35%. Hyster-Yale Materials Handling’s dividend payout ratio is currently 16.22%.

Institutional Trading of Hyster-Yale Materials Handling

Institutional investors have recently modified their holdings of the company. EntryPoint Capital LLC purchased a new stake in shares of Hyster-Yale Materials Handling during the first quarter worth about $27,000. Quest Partners LLC boosted its holdings in shares of Hyster-Yale Materials Handling by 6,692.3% during the second quarter. Quest Partners LLC now owns 883 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 870 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Hyster-Yale Materials Handling during the second quarter worth about $67,000. DekaBank Deutsche Girozentrale boosted its holdings in shares of Hyster-Yale Materials Handling by 67.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,356 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 548 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Hyster-Yale Materials Handling during the first quarter worth about $190,000. 46.47% of the stock is currently owned by hedge funds and other 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.