Roth Mkm Lowers Hyster-Yale Materials Handling (NYSE:HY) Price Target to $70.00

Hyster-Yale Materials Handling (NYSE:HY) had its target price cut by Roth Mkm from $84.00 to $70.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Other equities research analysts also recently issued research reports about the company. StockNews.com upgraded Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Northland Capmk lowered shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Two 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $80.00.

Hyster-Yale Materials Handling Trading Down 4.0 %

Hyster-Yale Materials Handling stock traded down $2.24 during trading on Wednesday, reaching $53.38. 92,366 shares of the company were exchanged, compared to its average volume of 75,573. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.63. Hyster-Yale Materials Handling has a 52-week low of $43.98 and a 52-week high of $84.44. The stock’s 50 day simple moving average is $62.45 and its two-hundred day simple moving average is $66.72. The company has a market capitalization of $934.15 million, a P/E ratio of 6.00 and a beta of 1.32.

Hyster-Yale Materials Handling (NYSE:HY) last posted 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). The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Hyster-Yale Materials Handling had a net margin of 3.68% and a return on equity of 34.77%. During the same period last year, the company earned $2.06 EPS. On average, equities research analysts expect that Hyster-Yale Materials Handling will post 9.69 earnings per share for the current fiscal year.

Hyster-Yale Materials Handling Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Friday, August 30th. Hyster-Yale Materials Handling’s dividend payout ratio is currently 15.71%.

Institutional Investors Weigh In On Hyster-Yale Materials Handling

Several large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its position in shares of Hyster-Yale Materials Handling by 296.7% in 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 purchasing an additional 18,247 shares during the last quarter. Swedbank AB purchased a new position in Hyster-Yale Materials Handling during the 1st quarter worth $5,519,000. Acadian Asset Management LLC raised its holdings in shares of Hyster-Yale Materials Handling by 77.2% in the first quarter. Acadian Asset Management LLC now owns 134,959 shares of the industrial products company’s stock valued at $8,656,000 after buying an additional 58,814 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Hyster-Yale Materials Handling by 24.8% during the second quarter. Sei Investments Co. now owns 44,166 shares of the industrial products company’s stock worth $3,080,000 after buying an additional 8,764 shares during the last quarter. Finally, Inspire Investing LLC raised its stake in Hyster-Yale Materials Handling by 86.8% during the 3rd quarter. Inspire Investing LLC now owns 20,299 shares of the industrial products company’s stock valued at $1,294,000 after acquiring an additional 9,432 shares during the last quarter. 46.47% of the stock is owned by hedge funds and other institutional investors.

About Hyster-Yale Materials Handling

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.