Hyster-Yale Materials Handling, Inc. (NYSE:HY) Short Interest Up 6.8% in October

Hyster-Yale Materials Handling, Inc. (NYSE:HY) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totalling 682,800 shares, a growth of 6.8% from the September 30th total of 639,500 shares. Based on an average trading volume of 78,000 shares, the short-interest ratio is currently 8.8 days. Approximately 7.3% of the company’s stock are short sold.

Analyst Ratings Changes

HY has been the topic of a number of analyst reports. Roth Mkm reissued a “buy” rating and issued a $84.00 price target (down from $87.00) on shares of Hyster-Yale Materials Handling in a research report on Thursday, August 8th. StockNews.com raised shares of Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. Finally, Northland Capmk downgraded shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.00.

Hedge Funds Weigh In On Hyster-Yale Materials Handling

A number of institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its stake in Hyster-Yale Materials Handling by 112.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,193 shares of the industrial products company’s stock worth $911,000 after acquiring an additional 7,526 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Hyster-Yale Materials Handling by 29.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 287,698 shares of the industrial products company’s stock valued at $18,462,000 after purchasing an additional 65,708 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Hyster-Yale Materials Handling by 5.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 8,070 shares of the industrial products company’s stock valued at $518,000 after buying an additional 395 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Hyster-Yale Materials Handling in the 1st quarter worth $190,000. Finally, Gallacher Capital Management LLC raised its holdings in Hyster-Yale Materials Handling by 107.4% during the first quarter. Gallacher Capital Management LLC now owns 8,924 shares of the industrial products company’s stock valued at $573,000 after acquiring an additional 4,622 shares during the period. 46.47% of the stock is owned by institutional investors.

Hyster-Yale Materials Handling Stock Performance

Shares of HY traded up $0.67 during mid-day trading on Friday, hitting $64.14. 1,160 shares of the company traded hands, compared to its average volume of 90,492. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 6.35 and a beta of 1.31. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.63 and a current ratio of 1.31. The stock has a 50-day moving average price of $62.99 and a two-hundred day moving average price of $66.84. Hyster-Yale Materials Handling has a 1 year low of $41.35 and a 1 year high of $84.44.

Hyster-Yale Materials Handling (NYSE:HY) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $1.30. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the company posted $2.21 EPS. Equities analysts anticipate that Hyster-Yale Materials Handling will post 9.69 earnings per share for the current year.

Hyster-Yale Materials Handling Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.40 annualized dividend and a dividend yield of 2.18%. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is 14.00%.

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.