Hyster-Yale (NYSE:HY) Sees Strong Trading Volume - Here's What Happened

Key Points

• Hyster-Yale's shares experienced a trading volume increase to 54,027 shares, close to a 2% rise from the previous day, with shares currently priced at $41.81.
• Analysts have downgraded Hyster-Yale's rating from "buy" to "hold", suggesting a cautious outlook for the stock.
• The company announced a quarterly dividend increase to $0.36, with a yield of 3.5%, boosting its previous dividend of $0.35.

Hyster-Yale, Inc. (NYSE:HY - Get Free Report) saw strong trading volume on Tuesday . 54,027 shares changed hands during mid-day trading, an increase of 2% from the previous session's volume of 52,876 shares.The stock last traded at $41.81 and had previously closed at $40.23.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Hyster-Yale from a "buy" rating to a "hold" rating in a report on Thursday, May 8th.

Hyster-Yale Stock Performance

The business's fifty day moving average price is $40.92 and its 200-day moving average price is $43.26. The stock has a market cap of $638.71 million, a PE ratio of 29.08 and a beta of 1.53. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.65 and a current ratio of 1.40.

Hyster-Yale (NYSE:HY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.40). Hyster-Yale had a net margin of 0.56% and a return on equity of 9.57%. The company had revenue of $956.60 million for the quarter, compared to the consensus estimate of $936.90 million. As a group, equities research analysts forecast that Hyster-Yale, Inc. will post 8.85 EPS for the current fiscal year.

Hyster-Yale Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.36 dividend. The ex-dividend date of this dividend was Friday, May 30th. This is an increase from Hyster-Yale's previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a dividend yield of 4.0%. Hyster-Yale's dividend payout ratio is presently 116.13%.

Institutional Trading of Hyster-Yale

Hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Hyster-Yale in the fourth quarter worth about $27,000. Mattson Financial Services LLC purchased a new stake in shares of Hyster-Yale during the 4th quarter valued at about $36,000. KLP Kapitalforvaltning AS bought a new position in shares of Hyster-Yale in the 4th quarter worth approximately $76,000. US Bancorp DE boosted its holdings in shares of Hyster-Yale by 15.2% in the first quarter. US Bancorp DE now owns 1,989 shares of the industrial products company's stock worth $83,000 after buying an additional 263 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in shares of Hyster-Yale by 164.5% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,468 shares of the industrial products company's stock worth $125,000 after buying an additional 1,535 shares during the last quarter. Hedge funds and other institutional investors own 46.47% of the company's stock.

Hyster-Yale Company Profile

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.