Hyster-Yale Materials Handling (NYSE:HY) Reaches New 12-Month High at $82.46

Hyster-Yale Materials Handling, Inc. (NYSE:HY) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $82.46 and last traded at $80.63, with a volume of 3119 shares traded. The stock had previously closed at $81.38.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on HY shares. Roth Mkm restated a “buy” rating and issued a $87.00 price target on shares of Hyster-Yale Materials Handling in a research report on Friday, June 7th. Northland Securities upgraded 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. Finally, Northland Capmk upgraded Hyster-Yale Materials Handling from a “hold” rating to a “strong-buy” rating in a report on Wednesday, June 5th. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $88.50.

Hyster-Yale Materials Handling Stock Performance

The company has a current ratio of 1.25, a quick ratio of 0.56 and a debt-to-equity ratio of 0.58. The firm’s fifty day moving average price is $72.34 and its 200 day moving average price is $67.33. The firm has a market capitalization of $1.45 billion, a PE ratio of 9.43 and a beta of 1.35.

Hyster-Yale Materials Handling (NYSE:HY) last released its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.79. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.03 billion. Hyster-Yale Materials Handling had a return on equity of 42.94% and a net margin of 3.61%. On average, research analysts anticipate that Hyster-Yale Materials Handling, Inc. will post 8.3 earnings per share for the current year.

Hyster-Yale Materials Handling Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a dividend of $0.35 per share. This is an increase from Hyster-Yale Materials Handling’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Friday, May 31st. Hyster-Yale Materials Handling’s dividend payout ratio is currently 16.22%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC bought a new position in Hyster-Yale Materials Handling in the 2nd quarter worth approximately $531,000. Panagora Asset Management Inc. lifted its stake in shares of Hyster-Yale Materials Handling by 3.3% in the second quarter. Panagora Asset Management Inc. now owns 48,329 shares of the industrial products company’s stock valued at $3,370,000 after buying an additional 1,553 shares during the period. Bank of New York Mellon Corp increased its stake in Hyster-Yale Materials Handling by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 115,550 shares of the industrial products company’s stock valued at $8,057,000 after acquiring an additional 2,619 shares during the period. Summit Global Investments raised its holdings 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 acquiring an additional 240 shares in the last quarter. Finally, Mcdonald Partners LLC lifted its position in shares of Hyster-Yale Materials Handling by 0.9% in the 2nd quarter. Mcdonald Partners LLC now owns 40,256 shares of the industrial products company’s stock worth $2,807,000 after acquiring an additional 352 shares during the period. Institutional investors and hedge funds own 46.47% of the company’s stock.

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.