Hyster-Yale (NYSE:HY) Stock Falls 6.3% – Here’s Why

Hyster-Yale, Inc. (NYSE:HY)’s stock price traded down 6.3% during trading on Thursday. The company traded as low as $30.90 and last traded at $30.83. Approximately 69,104 shares were traded during trading, a decline of 28% from the average session volume of 96,340 shares. The stock had previously closed at $32.89.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Roth Capital reissued a “buy” rating and issued a $45.00 price objective on shares of Hyster-Yale in a report on Thursday, August 6th. Wall Street Zen cut shares of Hyster-Yale from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Hyster-Yale in a research report on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $47.50.

Hyster-Yale Stock Up 1.0%

The company has a market capitalization of $558.21 million, a price-to-earnings ratio of -4.75 and a beta of 1.65. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.28 and a quick ratio of 0.65. The firm’s fifty day moving average price is $34.00 and its 200-day moving average price is $34.55.

Hyster-Yale (NYSE:HY) last released its quarterly earnings results on Tuesday, August 4th. The industrial products company reported ($1.64) earnings per share for the quarter, topping the consensus estimate of ($2.20) by $0.56. Hyster-Yale had a negative return on equity of 21.03% and a negative net margin of 3.33%.The company had revenue of $812.90 million for the quarter, compared to analysts’ expectations of $804.62 million. Sell-side analysts expect that Hyster-Yale, Inc. will post -2.91 earnings per share for the current fiscal year.

Hyster-Yale Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a $0.3650 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $1.46 annualized dividend and a yield of 4.7%. Hyster-Yale’s dividend payout ratio (DPR) is presently -22.26%.

Institutional Investors Weigh In On Hyster-Yale

A number of institutional investors have recently added to or reduced their stakes in the company. Optiver Holding B.V. purchased a new position in shares of Hyster-Yale in the 1st quarter worth approximately $33,000. State of Wyoming purchased a new stake in shares of Hyster-Yale during the 1st quarter valued at $204,000. Walleye Capital LLC bought a new stake in shares of Hyster-Yale during the 1st quarter worth $261,000. Parvin Asset Management LLC raised its stake in shares of Hyster-Yale by 10.3% during the 1st quarter. Parvin Asset Management LLC now owns 8,870 shares of the industrial products company’s stock worth $288,000 after purchasing an additional 825 shares during the period. Finally, Amundi boosted its holdings in shares of Hyster-Yale by 38.9% in the 1st quarter. Amundi now owns 12,520 shares of the industrial products company’s stock worth $407,000 after buying an additional 3,507 shares during the last quarter. 46.47% of the stock is owned by institutional investors.

About Hyster-Yale

Hyster-Yale, Inc (NYSE: HY) is a global manufacturer of materials-handling equipment. Through its Hyster and Yale brands, the company designs and produces lift trucks, including electric, internal-combustion-engine and warehouse models, for moving and storing materials in industrial, manufacturing, distribution and logistics environments.

The company also provides related replacement parts, service and support through a network of dealers and other distribution channels. Its broader product portfolio includes warehouse equipment and specialized materials-handling solutions.