Hyster-Yale Materials Handling (NYSE:HY) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Hyster-Yale Materials Handling (NYSE:HY) from a hold rating to a buy rating in a research note published on Thursday morning.

Separately, Roth Mkm cut their price objective on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Hyster-Yale Materials Handling Stock Up 1.3 %

Shares of NYSE HY opened at $53.92 on Thursday. The company has a quick ratio of 0.61, a current ratio of 1.36 and a debt-to-equity ratio of 0.46. The firm has a market cap of $944.07 million, a PE ratio of 6.05 and a beta of 1.26. The company’s fifty day simple moving average is $52.08 and its 200 day simple moving average is $57.16. Hyster-Yale Materials Handling has a 12-month low of $48.73 and a 12-month high of $84.44.

Hyster-Yale Materials Handling declared that its board has authorized a stock buyback program on Monday, November 18th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 5.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Hyster-Yale Materials Handling Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Friday, February 28th. Hyster-Yale Materials Handling’s payout ratio is currently 15.71%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Shufro Rose & Co. LLC bought a new stake in shares of Hyster-Yale Materials Handling during the fourth quarter worth about $458,000. Mackenzie Financial Corp bought a new stake in Hyster-Yale Materials Handling during the 4th quarter worth approximately $242,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Hyster-Yale Materials Handling by 17.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,789 shares of the industrial products company’s stock worth $855,000 after purchasing an additional 2,468 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Hyster-Yale Materials Handling by 118.2% in the fourth quarter. Two Sigma Advisers LP now owns 7,200 shares of the industrial products company’s stock valued at $367,000 after purchasing an additional 3,900 shares in the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of Hyster-Yale Materials Handling by 162.5% in the fourth quarter. Two Sigma Investments LP now owns 20,426 shares of the industrial products company’s stock valued at $1,040,000 after purchasing an additional 12,645 shares in the last quarter. 46.47% of the stock is owned by institutional investors.

Hyster-Yale Materials Handling Company Profile

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.