Hyster-Yale Materials Handling, Inc. (NYSE:HY) Announces Dividend Increase - $0.35 Per Share

Hyster-Yale Materials Handling, Inc. (NYSE:HY - Get Free Report) declared a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Investors of record on Friday, May 31st will be given a dividend of 0.35 per share by the industrial products company on Friday, June 14th. This represents a $1.40 annualized dividend and a yield of 1.77%. The ex-dividend date is Friday, May 31st. This is a boost from Hyster-Yale Materials Handling's previous quarterly dividend of $0.33.

Hyster-Yale Materials Handling has raised its dividend by an average of 0.7% per year over the last three years and has raised its dividend annually for the last 1 consecutive years.

Hyster-Yale Materials Handling Price Performance

Shares of HY stock traded up $6.19 during trading hours on Thursday, hitting $79.11. The company had a trading volume of 262,338 shares, compared to its average volume of 104,635. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 1.22. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 10.91 and a beta of 1.49. Hyster-Yale Materials Handling has a 12 month low of $38.50 and a 12 month high of $79.66. The firm's fifty day moving average is $61.03 and its 200 day moving average is $58.61.

Hyster-Yale Materials Handling (NYSE:HY - Get Free Report) last issued its earnings results on Tuesday, February 27th. The industrial products company reported $1.43 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.03). Hyster-Yale Materials Handling had a net margin of 3.06% and a return on equity of 40.35%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. On average, sell-side analysts predict that Hyster-Yale Materials Handling will post 7.06 EPS for the current fiscal year.

Insider Transactions at Hyster-Yale Materials Handling

In other news, insider Frank F. Taplin sold 5,000 shares of the business's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.65, for a total value of $293,250.00. Following the sale, the insider now directly owns 378,872 shares in the company, valued at $22,220,842.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Frank F. Taplin sold 11,720 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $58.10, for a total transaction of $680,932.00. Following the completion of the transaction, the insider now directly owns 367,152 shares in the company, valued at approximately $21,331,531.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Frank F. Taplin sold 5,000 shares of the firm's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $58.65, for a total value of $293,250.00. Following the completion of the transaction, the insider now owns 378,872 shares of the company's stock, valued at approximately $22,220,842.80. The disclosure for this sale can be found here. 33.93% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HY. Roth Mkm reaffirmed a "buy" rating and issued a $87.00 target price (up from $85.00) on shares of Hyster-Yale Materials Handling in a research note on Thursday. TheStreet downgraded Hyster-Yale Materials Handling from a "b-" rating to a "c" rating in a report on Monday, March 4th. Finally, StockNews.com cut Hyster-Yale Materials Handling from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 28th.

Hyster-Yale Materials Handling Company Profile

Hyster-Yale Materials Handling, 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.