Hyster-Yale Materials Handling (NYSE:HY) Shares Gap Down – Time to Sell?

Hyster-Yale Materials Handling, Inc. (NYSE:HY) shares gapped down prior to trading on Monday . The stock had previously closed at $56.24, but opened at $55.06. Hyster-Yale Materials Handling shares last traded at $55.76, with a volume of 17,214 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HY. Northland Capmk lowered Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Roth Mkm reduced their price objective on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, StockNews.com cut shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $80.00.

Hyster-Yale Materials Handling Price Performance

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 company has a 50 day moving average of $61.04 and a two-hundred day moving average of $65.67. The firm has a market cap of $991.13 million, a P/E ratio of 6.31 and a beta of 1.32.

Hyster-Yale Materials Handling (NYSE:HY) last posted its quarterly earnings data 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). Hyster-Yale Materials Handling had a net margin of 3.68% and a return on equity of 34.77%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the business posted $2.06 EPS. Sell-side analysts expect that Hyster-Yale Materials Handling, Inc. will post 8.85 EPS for the current year.

Hyster-Yale Materials Handling Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, November 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.47%. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is presently 15.71%.

Hyster-Yale Materials Handling announced that its Board of Directors has initiated a share repurchase program on Monday, November 18th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 5.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Hyster-Yale Materials Handling

A number of hedge funds have recently bought and sold shares of the company. Covestor Ltd lifted its holdings in shares of Hyster-Yale Materials Handling by 21,350.0% in the third quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 427 shares in the last quarter. Pinpoint Asset Management Ltd acquired a new stake in Hyster-Yale Materials Handling during the 3rd quarter worth about $32,000. Quest Partners LLC grew its stake in Hyster-Yale Materials Handling by 6,692.3% during the 2nd quarter. Quest Partners LLC now owns 883 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 870 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Hyster-Yale Materials Handling during the second quarter worth approximately $67,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Hyster-Yale Materials Handling by 67.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,356 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 548 shares during the period. 46.47% of the stock is owned by hedge funds and other 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.