Hyster-Yale Materials Handling (NYSE:HY) Stock Price Up 3.6% – Time to Buy?

Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) shot up 3.6% on Friday . The company traded as high as $51.56 and last traded at $51.56. 18,939 shares changed hands during trading, a decline of 79% from the average session volume of 91,425 shares. The stock had previously closed at $49.77.

Analysts Set New Price Targets

Several research firms recently commented on HY. Roth Mkm dropped their target price on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. StockNews.com downgraded 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 given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

Hyster-Yale Materials Handling Price Performance

The stock has a fifty day moving average of $58.50 and a two-hundred day moving average of $63.84. The stock has a market cap of $889.76 million, a price-to-earnings ratio of 5.70 and a beta of 1.25. The company has a quick ratio of 0.61, a current ratio of 1.36 and a debt-to-equity ratio of 0.46.

Hyster-Yale Materials Handling (NYSE:HY) last issued its earnings results on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.97 by ($1.00). The company 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 business posted $2.06 earnings per share. On average, equities research analysts anticipate that Hyster-Yale Materials Handling, Inc. will post 8.85 earnings per share for the current year.

Hyster-Yale Materials Handling Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.40 annualized dividend and a yield of 2.75%. Hyster-Yale Materials Handling’s payout ratio is 15.71%.

Hyster-Yale Materials Handling declared that its Board of Directors has approved a share buyback plan on Monday, November 18th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 5.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HY. Geode Capital Management LLC boosted its stake in shares of Hyster-Yale Materials Handling by 0.7% in the third quarter. Geode Capital Management LLC now owns 255,870 shares of the industrial products company’s stock valued at $16,320,000 after purchasing an additional 1,658 shares during the period. Acadian Asset Management LLC grew its stake in shares of Hyster-Yale Materials Handling by 63.7% during the second quarter. Acadian Asset Management LLC now owns 220,865 shares of the industrial products company’s stock valued at $15,390,000 after acquiring an additional 85,906 shares in the last quarter. American Century Companies Inc. increased its position 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 worth $10,546,000 after acquiring an additional 90,696 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Hyster-Yale Materials Handling by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 115,550 shares of the industrial products company’s stock worth $8,057,000 after acquiring an additional 2,619 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Hyster-Yale Materials Handling by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 115,159 shares of the industrial products company’s stock valued at $7,344,000 after purchasing an additional 4,296 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, 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.