Hyster-Yale Materials Handling (NYSE:HY) Downgraded by StockNews.com

StockNews.com downgraded shares of Hyster-Yale Materials Handling (NYSE:HY) from a buy rating to a hold rating in a research report released on Tuesday morning.

HY has been the topic of several other research reports. Northland Capmk lowered Hyster-Yale Materials Handling from a strong-buy rating to a hold rating in a research note on Wednesday, August 7th. Roth Mkm reissued a buy rating and issued a $84.00 price objective (down from $87.00) on shares of Hyster-Yale Materials Handling in a research report on Thursday, August 8th. Finally, Northland Securities raised shares of Hyster-Yale Materials Handling from a market perform rating to an outperform rating and set a $90.00 target price for the company in a report on Wednesday, June 5th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Hyster-Yale Materials Handling has a consensus rating of Moderate Buy and an average price target of $87.00.

Hyster-Yale Materials Handling Price Performance

NYSE:HY opened at $57.75 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 0.63 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $65.94 and a 200 day simple moving average of $66.11. Hyster-Yale Materials Handling has a 1-year low of $38.50 and a 1-year high of $84.44. The stock has a market capitalization of $1.01 billion, a PE ratio of 6.69 and a beta of 1.32.

Hyster-Yale Materials Handling (NYSE:HY) last announced its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $3.58 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $1.30. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.08 billion. Hyster-Yale Materials Handling had a net margin of 4.13% and a return on equity of 44.49%. During the same quarter last year, the firm posted $2.21 EPS. On average, research analysts expect that Hyster-Yale Materials Handling will post 9.69 EPS for the current fiscal year.

Hyster-Yale Materials Handling Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Friday, August 30th. Hyster-Yale Materials Handling’s dividend payout ratio is currently 16.22%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HY. CWM LLC lifted its stake in Hyster-Yale Materials Handling by 0.5% during the second quarter. CWM LLC now owns 41,992 shares of the industrial products company’s stock worth $2,928,000 after purchasing an additional 192 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Hyster-Yale Materials Handling by 4.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,442 shares of the industrial products company’s stock valued at $310,000 after purchasing an additional 200 shares in the last quarter. Summit Global Investments lifted its stake in Hyster-Yale Materials Handling by 2.4% in the 2nd quarter. Summit Global Investments now owns 10,334 shares of the industrial products company’s stock valued at $721,000 after purchasing an additional 240 shares during the last quarter. Mcdonald Partners LLC boosted its position in Hyster-Yale Materials Handling by 0.9% in the second quarter. Mcdonald Partners LLC now owns 40,256 shares of the industrial products company’s stock valued at $2,807,000 after buying an additional 352 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Hyster-Yale Materials Handling by 0.5% in the 2nd quarter. AQR Capital Management LLC now owns 76,587 shares of the industrial products company’s stock valued at $5,340,000 after acquiring an additional 363 shares during the last quarter. Institutional investors own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Company Profile

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.