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

Hyster-Yale Materials Handling, Inc. (NYSE:HY)’s stock price gapped up prior to trading 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 changing hands.

Analysts Set New Price Targets

HY has been the topic of several analyst reports. Northland Capmk cut Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Roth Mkm dropped their target price on 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. Finally, StockNews.com lowered Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Hyster-Yale Materials Handling presently has an average rating of “Moderate Buy” and a consensus target price of $80.00.

Hyster-Yale Materials Handling Price Performance

The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.61 and a current ratio of 1.36. The company has a market capitalization of $930.48 million, a P/E ratio of 5.97 and a beta of 1.32. The firm’s fifty day moving average is $61.77 and its 200 day moving average is $66.48.

Hyster-Yale Materials Handling (NYSE:HY) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.97 by ($1.00). Hyster-Yale Materials Handling had a return on equity of 34.77% and a net margin of 3.68%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the company posted $2.06 earnings per share. As a group, analysts predict that Hyster-Yale Materials Handling, Inc. will post 8.85 earnings per share for the current fiscal year.

Hyster-Yale Materials Handling Announces Dividend

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

Hedge Funds Weigh In On Hyster-Yale Materials Handling

A number of hedge funds have recently added to or reduced their stakes in HY. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Hyster-Yale Materials Handling by 298.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 132,136 shares of the industrial products company’s stock valued at $8,479,000 after purchasing an additional 98,996 shares during the period. American Century Companies Inc. increased its stake in shares of Hyster-Yale Materials Handling by 149.8% during the second quarter. American Century Companies Inc. now owns 151,241 shares of the industrial products company’s stock valued at $10,546,000 after buying an additional 90,696 shares during the period. Swedbank AB bought a new stake in shares of Hyster-Yale Materials Handling in the first quarter valued at about $5,519,000. Acadian Asset Management LLC lifted its stake in Hyster-Yale Materials Handling by 63.7% in the second quarter. Acadian Asset Management LLC now owns 220,865 shares of the industrial products company’s stock worth $15,390,000 after acquiring an additional 85,906 shares during the period. Finally, Foundry Partners LLC bought a new position in Hyster-Yale Materials Handling during the 2nd quarter worth about $5,046,000. 46.47% of the stock is currently owned by institutional investors.

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.