Hyster-Yale, Inc. to Issue Quarterly Dividend of $0.36 (NYSE:HY)

Key Points

• Hyster-Yale declared a quarterly dividend of $0.365 per share, payable September 15 to shareholders of record as of September 1. The payment implies an annualized dividend of approximately $1.46 and a 4.2% yield.
• The dividend is supported by a 50.3% current payout ratio, though analysts expect that ratio to rise to about 70.9% based on projected future earnings.
• Hyster-Yale reported quarterly revenue of $812.9 million and an adjusted loss of $1.64 per share, outperforming analysts’ loss estimate of $2.20 per share. The company’s shares opened at $34.61, while institutional investors and hedge funds own 46.47% of the stock.

Hyster-Yale, Inc. (NYSE:HY - Get Free Report) announced a quarterly dividend on Wednesday, August 12th. Investors of record on Tuesday, September 1st will be given a dividend of 0.365 per share by the industrial products company on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, September 1st.

Hyster-Yale has increased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 1 years. Hyster-Yale has a payout ratio of 50.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Hyster-Yale to earn $2.06 per share next year, which means the company should continue to be able to cover its $1.46 annual dividend with an expected future payout ratio of 70.9%.

Hyster-Yale Price Performance

Shares of NYSE:HY opened at $34.61 on Thursday. The firm's fifty day moving average is $34.68 and its 200-day moving average is $35.18. Hyster-Yale has a 52 week low of $26.41 and a 52 week high of $41.30. The firm has a market cap of $620.21 million, a PE ratio of -5.28 and a beta of 1.62. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.65 and a current ratio of 1.28.

Hyster-Yale (NYSE:HY - Get Free Report) last announced its earnings results on Tuesday, August 4th. The industrial products company reported ($1.64) EPS for the quarter, beating 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 business had revenue of $812.90 million for the quarter, compared to analysts' expectations of $804.62 million. Sell-side analysts predict that Hyster-Yale will post -2.91 earnings per share for the current year.

Hedge Funds Weigh In On Hyster-Yale

A number of institutional investors have recently modified their holdings of HY. Amundi lifted its position in shares of Hyster-Yale by 3.8% during the fourth quarter. Amundi now owns 9,013 shares of the industrial products company's stock worth $268,000 after acquiring an additional 334 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Hyster-Yale by 7.6% in the second quarter. Legal & General Group Plc now owns 9,284 shares of the industrial products company's stock worth $369,000 after acquiring an additional 654 shares during the period. Parvin Asset Management LLC grew its position in shares of Hyster-Yale by 10.3% in the first quarter. Parvin Asset Management LLC now owns 8,870 shares of the industrial products company's stock valued at $288,000 after purchasing an additional 825 shares in the last quarter. Optiver Holding B.V. purchased a new position in shares of Hyster-Yale in the first quarter valued at $33,000. Finally, Intech Investment Management LLC raised its stake in shares of Hyster-Yale by 19.2% during the 3rd quarter. Intech Investment Management LLC now owns 6,443 shares of the industrial products company's stock valued at $237,000 after purchasing an additional 1,036 shares during the period. 46.47% of the stock is owned by institutional investors and hedge funds.

Hyster-Yale Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source