Hyster-Yale Materials Handling (NYSE:HY) Upgraded at StockNews.com

StockNews.com upgraded shares of Hyster-Yale Materials Handling (NYSE:HY) from a hold rating to a buy rating in a research note released on Thursday morning.

Separately, Roth Mkm dropped their price objective on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.00.

Hyster-Yale Materials Handling Price Performance

Shares of NYSE HY opened at $50.65 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.61. The firm has a market capitalization of $886.83 million, a PE ratio of 5.68 and a beta of 1.26. Hyster-Yale Materials Handling has a 1-year low of $48.73 and a 1-year high of $84.44. The business’s fifty day moving average price is $52.16 and its two-hundred day moving average price is $57.08.

Hyster-Yale Materials Handling Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Friday, February 28th. Hyster-Yale Materials Handling’s payout ratio is currently 17.37%.

Hyster-Yale Materials Handling declared that its board has initiated a stock buyback program on Monday, November 18th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the industrial products company to buy up to 5.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Hyster-Yale Materials Handling

Institutional investors have recently bought and sold shares of the stock. Covestor Ltd raised its position in shares of Hyster-Yale Materials Handling by 21,350.0% during the 3rd quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock worth $27,000 after buying an additional 427 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Hyster-Yale Materials Handling during the fourth quarter valued at approximately $27,000. Pinpoint Asset Management Ltd bought a new stake in Hyster-Yale Materials Handling during the third quarter worth approximately $32,000. Meeder Asset Management Inc. lifted its position in Hyster-Yale Materials Handling by 421.8% in the fourth quarter. Meeder Asset Management Inc. now owns 741 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 599 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in Hyster-Yale Materials Handling during the 4th quarter valued at $76,000. Institutional investors and hedge funds own 46.47% of the company’s stock.

Hyster-Yale Materials Handling 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.