Short Interest in Hyster-Yale Materials Handling, Inc. (NYSE:HY) Drops By 6.3%

Hyster-Yale Materials Handling, Inc. (NYSE:HY) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 646,700 shares, a decline of 6.3% from the August 15th total of 690,100 shares. Approximately 7.2% of the company’s shares are short sold. Based on an average trading volume of 88,400 shares, the short-interest ratio is currently 7.3 days.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Northland Capmk downgraded Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. StockNews.com cut shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Roth Mkm restated a “buy” rating and issued a $84.00 price objective (down previously from $87.00) on shares of Hyster-Yale Materials Handling in a research report on Thursday, August 8th. Finally, Northland Securities raised Hyster-Yale Materials Handling from a “market perform” rating to an “outperform” rating and set a $90.00 target price on the stock in a research note on Wednesday, June 5th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HY. Algert Global LLC boosted its holdings in Hyster-Yale Materials Handling by 311.9% in the 2nd quarter. Algert Global LLC now owns 28,503 shares of the industrial products company’s stock worth $1,988,000 after buying an additional 21,583 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Hyster-Yale Materials Handling in the 2nd quarter worth approximately $358,000. The Manufacturers Life Insurance Company boosted its stake in Hyster-Yale Materials Handling by 4.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,442 shares of the industrial products company’s stock worth $310,000 after purchasing an additional 200 shares during the period. Millennium Management LLC grew its holdings in Hyster-Yale Materials Handling by 1.5% during the 2nd quarter. Millennium Management LLC now owns 48,064 shares of the industrial products company’s stock valued at $3,352,000 after buying an additional 713 shares in the last quarter. Finally, Dark Forest Capital Management LP lifted its stake in Hyster-Yale Materials Handling by 9.4% in the 2nd quarter. Dark Forest Capital Management LP now owns 5,873 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 503 shares in the last quarter. Institutional investors own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Trading Down 0.5 %

NYSE HY traded down $0.30 during trading on Wednesday, hitting $60.58. The company had a trading volume of 1,026 shares, compared to its average volume of 95,546. The company’s fifty day moving average is $65.57 and its 200-day moving average is $66.10. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 7.06 and a beta of 1.31. The company has a current ratio of 1.31, a quick ratio of 0.63 and a debt-to-equity ratio of 0.53. Hyster-Yale Materials Handling has a one year low of $38.50 and a one year high of $84.44.

Hyster-Yale Materials Handling (NYSE:HY) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $3.58 earnings per share for the quarter, beating the consensus estimate of $2.28 by $1.30. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Hyster-Yale Materials Handling had a return on equity of 44.49% and a net margin of 4.13%. During the same period in the previous year, the firm posted $2.21 EPS. On average, sell-side analysts predict that Hyster-Yale Materials Handling will post 9.69 earnings per share for the current year.

Hyster-Yale Materials Handling Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Friday, August 30th. Hyster-Yale Materials Handling’s payout ratio is currently 16.22%.

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.