Hyster-Yale, Inc. (NYSE:HY) Sees Significant Decline in Short Interest

Hyster-Yale, Inc. (NYSE:HY) was the recipient of a significant decrease in short interest in March. As of March 13th, there was short interest totaling 338,611 shares, a decrease of 26.2% from the February 26th total of 458,894 shares. Based on an average daily volume of 138,745 shares, the short-interest ratio is presently 2.4 days. Currently, 2.9% of the shares of the stock are sold short.

Analysts Set New Price Targets

HY has been the subject of several analyst reports. Wall Street Zen downgraded Hyster-Yale from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Northland Securities upgraded Hyster-Yale from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Monday, March 2nd. Zacks Research cut Hyster-Yale from a “hold” rating to a “strong sell” rating in a report on Friday, March 6th. Finally, Weiss Ratings downgraded shares of Hyster-Yale from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, March 5th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $45.00.

Institutional Trading of Hyster-Yale

Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue acquired a new position in Hyster-Yale during the 3rd quarter worth about $27,000. Kestra Advisory Services LLC acquired a new stake in Hyster-Yale in the 4th quarter valued at about $61,000. Aquatic Capital Management LLC increased its position in Hyster-Yale by 71.9% in the 3rd quarter. Aquatic Capital Management LLC now owns 3,372 shares of the industrial products company’s stock valued at $124,000 after acquiring an additional 1,410 shares in the last quarter. Amundi raised its stake in shares of Hyster-Yale by 10.1% in the first quarter. Amundi now owns 4,844 shares of the industrial products company’s stock worth $201,000 after acquiring an additional 444 shares during the last quarter. Finally, Intech Investment Management LLC raised its stake in shares of Hyster-Yale by 19.2% in the third quarter. Intech Investment Management LLC now owns 6,443 shares of the industrial products company’s stock worth $237,000 after acquiring an additional 1,036 shares during the last quarter. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Hyster-Yale Stock Performance

NYSE HY opened at $31.82 on Tuesday. Hyster-Yale has a 1-year low of $26.41 and a 1-year high of $44.55. The company has a 50 day moving average of $34.82 and a 200-day moving average of $33.89. The company has a current ratio of 1.34, a quick ratio of 0.71 and a debt-to-equity ratio of 0.53. The firm has a market cap of $569.49 million, a price-to-earnings ratio of -9.36 and a beta of 1.54.

Hyster-Yale (NYSE:HY) last announced its earnings results on Tuesday, March 3rd. The industrial products company reported ($2.06) EPS for the quarter, missing the consensus estimate of ($1.20) by ($0.86). Hyster-Yale had a negative return on equity of 6.12% and a negative net margin of 1.59%.The business had revenue of $923.20 million during the quarter, compared to analyst estimates of $916.43 million. On average, equities analysts forecast that Hyster-Yale will post 8.85 earnings per share for the current fiscal year.

Hyster-Yale Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.44 dividend on an annualized basis and a yield of 4.5%. Hyster-Yale’s payout ratio is currently -42.35%.

About Hyster-Yale

Hyster-Yale Materials Handling, Inc is a global manufacturer and distributor of a wide range of industrial lift trucks, container handlers and aftermarket parts and services. Operating under the Hyster and Yale brand names, the company designs, engineers and assembles counterbalanced lift trucks, narrow-aisle trucks and specialty vehicles for clients in distribution, manufacturing, retail and warehousing.

The company’s product portfolio includes electric, diesel and LPG-powered forklifts, as well as reach stackers, empty container handlers and terminal tractors.