Roth Mkm reissued their buy rating on shares of Hyster-Yale Materials Handling (NYSE:HY - Free Report) in a research report report published on Thursday morning, Benzinga reports. Roth Mkm currently has a $87.00 price objective on the industrial products company's stock, up from their previous price objective of $85.00.
Other research analysts have also recently issued reports about the company. StockNews.com cut Hyster-Yale Materials Handling from a strong-buy rating to a buy rating in a research note on Wednesday, February 28th. TheStreet downgraded shares of Hyster-Yale Materials Handling from a b- rating to a c rating in a report on Monday, March 4th.
Get Our Latest Research Report on Hyster-Yale Materials Handling
Hyster-Yale Materials Handling Stock Up 8.5 %
Shares of NYSE HY traded up $6.19 during mid-day trading on Thursday, reaching $79.11. 262,338 shares of the company were exchanged, compared to its average volume of 104,635. The firm has a 50-day moving average of $61.03 and a 200 day moving average of $58.61. Hyster-Yale Materials Handling has a 1 year low of $38.50 and a 1 year high of $79.66. The company has a quick ratio of 0.55, a current ratio of 1.22 and a debt-to-equity ratio of 0.62. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 10.91 and a beta of 1.49.
Hyster-Yale Materials Handling (NYSE:HY - Get Free Report) last announced its earnings results on Tuesday, February 27th. The industrial products company reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.03). The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. Hyster-Yale Materials Handling had a net margin of 3.06% and a return on equity of 40.35%. On average, research analysts expect that Hyster-Yale Materials Handling will post 7.06 earnings per share for the current year.
Hyster-Yale Materials Handling Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a dividend of $0.35 per share. The ex-dividend date is Friday, May 31st. This is a positive change from Hyster-Yale Materials Handling's previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 1.77%. Hyster-Yale Materials Handling's payout ratio is presently 17.93%.
Insider Buying and Selling at Hyster-Yale Materials Handling
In other news, insider Frank F. Taplin sold 11,720 shares of the company's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $58.10, for a total value of $680,932.00. Following the completion of the sale, the insider now directly owns 367,152 shares in the company, valued at $21,331,531.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Frank F. Taplin sold 5,000 shares of the firm's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.65, for a total transaction of $293,250.00. Following the completion of the sale, the insider now directly owns 378,872 shares of the company's stock, valued at approximately $22,220,842.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Frank F. Taplin sold 11,720 shares of the company's 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 disclosure for this sale can be found here. 33.93% of the stock is owned by insiders.
Hedge Funds Weigh In On Hyster-Yale Materials Handling
A number of hedge funds and other institutional investors have recently bought and sold shares of HY. Gladius Capital Management LP purchased a new stake in shares of Hyster-Yale Materials Handling during the fourth quarter worth $40,000. New York State Teachers Retirement System acquired a new position in Hyster-Yale Materials Handling during the 4th quarter worth $61,000. AJOVista LLC purchased a new stake in Hyster-Yale Materials Handling during the 4th quarter worth about $71,000. SG Americas Securities LLC acquired a new stake in Hyster-Yale Materials Handling in the 4th quarter valued at about $151,000. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Hyster-Yale Materials Handling in the 1st quarter valued at about $190,000. 46.47% of the stock is currently owned by hedge funds and other institutional investors.
About Hyster-Yale Materials Handling
(
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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.
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