Hyster-Yale Materials Handling (NYSE:HY) Sees Large Volume Increase

Hyster-Yale Materials Handling, Inc. (NYSE:HY) shares saw an uptick in trading volume on Friday . 40,234 shares traded hands during mid-day trading, a decline of 59% from the previous session’s volume of 98,516 shares.The stock last traded at $80.00 and had previously closed at $77.33.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on HY shares. Northland Capmk raised Hyster-Yale Materials Handling from a “hold” rating to a “strong-buy” rating in a report on Wednesday, June 5th. Northland Securities raised Hyster-Yale Materials Handling from a “market perform” rating to an “outperform” rating and set a $90.00 price target on the stock in a report on Wednesday, June 5th. Finally, Roth Mkm reissued a “buy” rating and set a $87.00 target price on shares of Hyster-Yale Materials Handling in a report on Friday, June 7th. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $88.50.

Hyster-Yale Materials Handling Stock Performance

The company has a current ratio of 1.25, a quick ratio of 0.56 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $1.37 billion, a PE ratio of 8.97 and a beta of 1.35. The firm’s 50-day simple moving average is $72.05 and its two-hundred day simple moving average is $66.98.

Hyster-Yale Materials Handling (NYSE:HY) last posted its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.14 by $0.79. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Hyster-Yale Materials Handling had a net margin of 3.61% and a return on equity of 42.94%. On average, equities research analysts expect that Hyster-Yale Materials Handling, Inc. will post 8.3 earnings per share for the current fiscal year.

Hyster-Yale Materials Handling Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a dividend of $0.35 per share. This is a positive change from Hyster-Yale Materials Handling’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.78%. Hyster-Yale Materials Handling’s payout ratio is currently 16.22%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. grew its stake in shares of Hyster-Yale Materials Handling by 298.7% during 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 last quarter. Hillsdale Investment Management Inc. grew its stake in shares of Hyster-Yale Materials Handling by 92,150.0% during the fourth quarter. Hillsdale Investment Management Inc. now owns 92,250 shares of the industrial products company’s stock valued at $5,737,000 after purchasing an additional 92,150 shares during the last quarter. Swedbank AB bought a new stake in shares of Hyster-Yale Materials Handling during the first quarter valued at approximately $5,519,000. Lazard Asset Management LLC grew its stake in shares of Hyster-Yale Materials Handling by 2,033.6% during the first quarter. Lazard Asset Management LLC now owns 69,449 shares of the industrial products company’s stock valued at $4,456,000 after purchasing an additional 66,194 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Hyster-Yale Materials Handling by 29.6% during the first 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 last quarter. Institutional investors and hedge funds own 46.47% of the company’s stock.

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.