Hyster-Yale Materials Handling (NYSE:HY) Shares Gap Up – What’s Next?

Hyster-Yale Materials Handling, Inc. (NYSE:HY)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $53.00, but opened at $55.04. Hyster-Yale Materials Handling shares last traded at $54.62, with a volume of 21,061 shares.

Analyst Upgrades and Downgrades

HY has been the topic of a number of research reports. StockNews.com lowered Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Northland Capmk cut Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, Roth Mkm dropped their price objective on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $80.00.

Hyster-Yale Materials Handling Stock Performance

The firm has a market capitalization of $932.75 million, a P/E ratio of 5.97 and a beta of 1.32. The company has a 50-day moving average of $61.98 and a 200-day moving average of $66.62. The company has a current ratio of 1.36, a quick ratio of 0.61 and a debt-to-equity ratio of 0.46.

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 for the quarter, missing analysts’ consensus estimates of $1.97 by ($1.00). The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.06 billion. Hyster-Yale Materials Handling had a return on equity of 34.77% and a net margin of 3.68%. During the same period in the prior year, the business earned $2.06 EPS. On average, equities analysts anticipate that Hyster-Yale Materials Handling, Inc. will post 8.85 earnings per share for the current fiscal year.

Hyster-Yale Materials Handling Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Friday, November 29th. Hyster-Yale Materials Handling’s dividend payout ratio is 15.71%.

Institutional Trading of Hyster-Yale Materials Handling

Large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its position in shares of Hyster-Yale Materials Handling by 296.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,397 shares of the industrial products company’s stock valued at $1,566,000 after acquiring an additional 18,247 shares during the period. Swedbank AB bought a new position in shares of Hyster-Yale Materials Handling during the 1st quarter worth about $5,519,000. Acadian Asset Management LLC boosted its position 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 worth $8,656,000 after purchasing an additional 58,814 shares in the last quarter. Sei Investments Co. grew its stake in shares of Hyster-Yale Materials Handling by 24.8% in the 2nd quarter. Sei Investments Co. now owns 44,166 shares of the industrial products company’s stock valued at $3,080,000 after buying an additional 8,764 shares during the period. Finally, Inspire Investing LLC increased its position in Hyster-Yale Materials Handling by 86.8% in the 3rd quarter. Inspire Investing LLC now owns 20,299 shares of the industrial products company’s stock valued at $1,294,000 after buying an additional 9,432 shares in the last quarter. Institutional investors and hedge funds own 46.47% of the company’s stock.

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.