Hyster-Yale Materials Handling, Inc. Plans Quarterly Dividend of $0.35 (NYSE:HY)

Hyster-Yale Materials Handling, Inc. (NYSE:HY) announced a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.35 per share by the industrial products company on Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Friday, November 29th.

Hyster-Yale Materials Handling has increased its dividend payment by an average of 0.7% per year over the last three years and has raised its dividend every year for the last 13 years. Hyster-Yale Materials Handling has a dividend payout ratio of 26.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Hyster-Yale Materials Handling to earn $5.39 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 26.0%.

Hyster-Yale Materials Handling Trading Down 1.2 %

Shares of Hyster-Yale Materials Handling stock opened at $56.14 on Thursday. The company has a fifty day simple moving average of $61.28 and a 200-day simple moving average of $66.00. Hyster-Yale Materials Handling has a 12-month low of $47.05 and a 12-month high of $84.44. The company has a current ratio of 1.36, a quick ratio of 0.61 and a debt-to-equity ratio of 0.46. The stock has a market cap of $982.90 million, a price-to-earnings ratio of 6.30 and a beta of 1.32.

Hyster-Yale Materials Handling (NYSE:HY) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share (EPS) 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 company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the company earned $2.06 EPS. On average, equities analysts forecast that Hyster-Yale Materials Handling will post 8.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Roth Mkm cut their price target on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Northland Capmk cut shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Hyster-Yale Materials Handling has a consensus rating of “Moderate Buy” and a consensus price target of $80.00.

Hyster-Yale Materials Handling declared that its board has initiated a share repurchase program on Monday, November 18th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the industrial products company to buy up to 5.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

About Hyster-Yale Materials Handling

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.