Hyster-Yale (NYSE:HY) Sees Unusually-High Trading Volume - Should You Buy?

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) shares 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 Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Hyster-Yale from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th.

Hyster-Yale Stock Up 0.9%

The business's fifty day moving average price is $41.09 and its 200 day moving average price is $43.72. The company has a market capitalization of $738.77 million, a P/E ratio of 7.44 and a beta of 1.53. The company has a current ratio of 1.38, a quick ratio of 0.65 and a debt-to-equity ratio of 0.47.

Hyster-Yale (NYSE:HY - Get Free Report) last announced its earnings results on Tuesday, May 6th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.02. The business had revenue of $910.40 million during the quarter, compared to analysts' expectations of $947.80 million. Hyster-Yale had a net margin of 2.39% and a return on equity of 23.11%. As a group, equities research analysts predict that Hyster-Yale, Inc. will post 8.85 earnings per share for the current fiscal year.

Hyster-Yale Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 3.5%. The ex-dividend date was Friday, May 30th. This is a boost from Hyster-Yale's previous quarterly dividend of $0.35. Hyster-Yale's dividend payout ratio is 25.67%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Scotia Capital Inc. boosted its stake in shares of Hyster-Yale by 0.7% in the 4th quarter. Scotia Capital Inc. now owns 31,873 shares of the industrial products company's stock valued at $1,623,000 after purchasing an additional 223 shares during the last quarter. US Bancorp DE boosted its stake in Hyster-Yale by 15.2% during the 1st quarter. US Bancorp DE now owns 1,989 shares of the industrial products company's stock worth $83,000 after acquiring an additional 263 shares during the last quarter. Inspire Investing LLC boosted its stake in Hyster-Yale by 4.5% during the 1st quarter. Inspire Investing LLC now owns 8,232 shares of the industrial products company's stock worth $342,000 after acquiring an additional 358 shares during the last quarter. Amundi boosted its stake 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 acquiring an additional 444 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Hyster-Yale by 17.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,018 shares of the industrial products company's stock worth $154,000 after acquiring an additional 448 shares during the last quarter. Institutional investors own 46.47% of the company's stock.

About Hyster-Yale

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.

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