Hyster-Yale Materials Handling, Inc. (NYSE:HY – Get Free Report) declared a quarterly dividend on Wednesday, August 14th, Wall Street Journal reports. Shareholders of record on Friday, August 30th will be paid a dividend of 0.35 per share by the industrial products company on Friday, September 13th. This represents a $1.40 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Friday, August 30th.
Hyster-Yale Materials Handling has increased its dividend payment by an average of 0.7% per year over the last three years and has raised its dividend every year for the last 12 years. Hyster-Yale Materials Handling has a dividend payout ratio of 18.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Hyster-Yale Materials Handling to earn $7.37 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 19.0%.
Hyster-Yale Materials Handling Trading Down 2.3 %
Shares of NYSE HY opened at $60.83 on Wednesday. Hyster-Yale Materials Handling has a fifty-two week low of $38.50 and a fifty-two week high of $84.44. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.56 and a current ratio of 1.25. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 7.05 and a beta of 1.35. The business’s 50 day moving average price is $68.33 and its 200-day moving average price is $66.90.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Northland Capmk lowered shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Roth Mkm reaffirmed a “buy” rating and set a $84.00 price target (down previously from $87.00) on shares of Hyster-Yale Materials Handling in a research note on Thursday, August 8th. Finally, Northland Securities raised Hyster-Yale Materials Handling from a “market perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research note on Wednesday, June 5th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Hyster-Yale Materials Handling has an average rating of “Moderate Buy” and a consensus price target of $87.00.
Read Our Latest Stock Analysis on Hyster-Yale Materials Handling
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.
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