Hyster-Yale, Inc. (NYSE:HY) Short Interest Update

Key Points

• Short interest plunged 26.2% in March to 338,611 shares (about 2.9% of shares short), leaving a short-interest ratio of roughly 2.4 days based on average volume.
• Hyster‑Yale missed on quarterly EPS, reporting a loss of $2.06 versus analysts' -$1.20 estimate while revenue slightly beat at $923.2M; the stock traded down about 3% to $32.13 and the company shows negative net margin and ROE.
• The company pays a quarterly dividend of $0.36 (annualized $1.44, ~4.5% yield) despite a negative payout ratio, and analyst coverage is mixed with a MarketBeat consensus rating of "Reduce" and a $45 price target.

Hyster-Yale, Inc. (NYSE:HY - Get Free Report) was the target of a large decline in short interest in the month of March. As of March 13th, there was short interest totaling 338,611 shares, a decline of 26.2% from the February 26th total of 458,894 shares. Currently, 2.9% of the company's shares are short sold. Based on an average trading volume of 138,745 shares, the short-interest ratio is currently 2.4 days.

Hyster-Yale Stock Down 3.0%

Shares of HY traded down $0.99 during mid-day trading on Friday, hitting $32.13. 61,066 shares of the company's stock were exchanged, compared to its average volume of 117,626. The stock's 50-day moving average is $34.86 and its 200-day moving average is $33.94. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.71 and a current ratio of 1.34. Hyster-Yale has a fifty-two week low of $26.41 and a fifty-two week high of $44.55. The company has a market cap of $575.11 million, a price-to-earnings ratio of -9.45 and a beta of 1.54.

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

Hyster-Yale Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Northland Securities raised shares of Hyster-Yale from a "market perform" rating to an "outperform" rating and set a $50.00 price objective for the company in a research report on Monday, March 2nd. Weiss Ratings lowered Hyster-Yale from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, March 5th. Zacks Research cut Hyster-Yale from a "hold" rating to a "strong sell" rating in a research note on Friday, March 6th. Finally, Wall Street Zen lowered Hyster-Yale from a "hold" rating to a "sell" rating in a research report on Saturday, March 7th. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, Hyster-Yale has an average rating of "Reduce" and a consensus price target of $45.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HY. Amundi increased its holdings in Hyster-Yale by 10.1% during the 1st quarter. Amundi now owns 4,844 shares of the industrial products company's stock worth $201,000 after purchasing an additional 444 shares during the period. AQR Capital Management LLC boosted its stake in shares of Hyster-Yale by 110.6% in the 1st quarter. AQR Capital Management LLC now owns 79,582 shares of the industrial products company's stock valued at $3,306,000 after buying an additional 41,795 shares during the period. Millennium Management LLC grew its position in shares of Hyster-Yale by 20.5% during the first quarter. Millennium Management LLC now owns 119,560 shares of the industrial products company's stock worth $4,967,000 after buying an additional 20,305 shares in the last quarter. Empowered Funds LLC grew its position in shares of Hyster-Yale by 99.6% during the first quarter. Empowered Funds LLC now owns 48,701 shares of the industrial products company's stock worth $2,023,000 after buying an additional 24,302 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Hyster-Yale by 19.8% during the first quarter. Jane Street Group LLC now owns 35,034 shares of the industrial products company's stock worth $1,455,000 after buying an additional 5,802 shares during the period. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

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.

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