Hyster-Yale Materials Handling (NYSE:HY) Reaches New 1-Year High at $82.46

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Roth Mkm reaffirmed a “buy” rating and set a $87.00 price target on shares of Hyster-Yale Materials Handling in a research note on Friday, June 7th. Northland Securities raised shares of Hyster-Yale Materials Handling from a “market perform” rating to an “outperform” rating and set a $90.00 price objective for the company in a research report on Wednesday, June 5th. Finally, Northland Capmk raised shares of Hyster-Yale Materials Handling from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 5th. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Hyster-Yale Materials Handling presently has a consensus rating of “Buy” and an average price target of $88.50.

Hyster-Yale Materials Handling Stock Down 2.9 %

The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.56 and a current ratio of 1.25. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 9.20 and a beta of 1.35. The firm’s 50-day simple moving average is $72.58 and its two-hundred day simple moving average is $67.51.

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

Hyster-Yale Materials Handling Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, May 31st. This is an increase from Hyster-Yale Materials Handling’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.76%. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is 16.22%.

Hedge Funds Weigh In On Hyster-Yale Materials Handling

A number of institutional investors have recently added to or reduced their stakes in HY. Privium Fund Management UK Ltd bought a new stake in shares of Hyster-Yale Materials Handling in the second quarter valued at about $1,235,000. Rhumbline Advisers boosted its position in shares of Hyster-Yale Materials Handling by 14.9% in the second quarter. Rhumbline Advisers now owns 17,581 shares of the industrial products company’s stock valued at $1,226,000 after acquiring an additional 2,282 shares during the period. Commonwealth Equity Services LLC bought a new stake in shares of Hyster-Yale Materials Handling in the second quarter valued at about $531,000. Panagora Asset Management Inc. boosted its position 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 acquiring an additional 1,553 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Hyster-Yale Materials Handling by 2.3% in 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. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Hyster-Yale Materials Handling Company Profile

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.