Hyster-Yale (NYSE:HY) Shares Gap Down - What's Next?

Key Points

• Hyster-Yale's stock price fell significantly from a previous close of $42.20 to $38.32, and it last traded at $36.37, showing a clear downward trend.
• Wall Street analysts downgraded Hyster-Yale from a "buy" to a "hold" rating, indicating a cautious outlook on the company's performance.
• The company recently increased its quarterly dividend to $0.36, representing a 4.0% dividend yield and a positive change from the previous dividend of $0.35.

Hyster-Yale, Inc. (NYSE:HY - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $42.20, but opened at $38.32. Hyster-Yale shares last traded at $36.37, with a volume of 49,139 shares trading hands.

Wall Street Analyst Weigh In

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 Performance

The company has a current ratio of 1.38, a quick ratio of 0.65 and a debt-to-equity ratio of 0.47. The company has a market cap of $639.51 million, a PE ratio of 6.45 and a beta of 1.53. The firm's fifty day moving average is $41.14 and its 200 day moving average is $43.62.

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

Hyster-Yale Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.0%. This is a positive change from Hyster-Yale's previous quarterly dividend of $0.35. The ex-dividend date was Friday, May 30th. Hyster-Yale's payout ratio is presently 25.67%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Hyster-Yale in the fourth quarter valued at about $27,000. Mattson Financial Services LLC acquired a new position in Hyster-Yale during the fourth quarter worth about $36,000. KLP Kapitalforvaltning AS purchased a new position in shares of Hyster-Yale in the fourth quarter valued at $76,000. US Bancorp DE increased its position in Hyster-Yale by 15.2% during 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 in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in Hyster-Yale by 164.5% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,468 shares of the industrial products company's stock valued at $125,000 after purchasing an additional 1,535 shares in the last quarter. 46.47% of the stock is owned by institutional investors and hedge funds.

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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