Hyster-Yale Materials Handling, Inc. (NYSE:HY) Short Interest Up 6.8% in October

Hyster-Yale Materials Handling, Inc. (NYSE:HY) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 682,800 shares, an increase of 6.8% from the September 30th total of 639,500 shares. Based on an average trading volume of 78,000 shares, the days-to-cover ratio is presently 8.8 days. Currently, 7.3% of the shares of the stock are short sold.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. StockNews.com raised Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. Roth Mkm reiterated a “buy” rating and set 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 Capmk cut shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.00.

Hedge Funds Weigh In On Hyster-Yale Materials Handling

Several hedge funds have recently bought and sold shares of HY. EntryPoint Capital LLC purchased a new stake in shares of Hyster-Yale Materials Handling during the first quarter valued at $27,000. Quest Partners LLC grew its stake in Hyster-Yale Materials Handling by 6,692.3% in the 2nd quarter. Quest Partners LLC now owns 883 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 870 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Hyster-Yale Materials Handling during the second quarter worth approximately $67,000. DekaBank Deutsche Girozentrale raised its stake in shares of Hyster-Yale Materials Handling by 67.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,356 shares of the industrial products company’s stock valued at $83,000 after acquiring an additional 548 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Hyster-Yale Materials Handling in the second quarter valued at approximately $194,000. Institutional investors own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Trading Up 1.1 %

Shares of Hyster-Yale Materials Handling stock traded up $0.67 on Friday, reaching $64.14. The company had a trading volume of 1,160 shares, compared to its average volume of 90,492. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 6.35 and a beta of 1.31. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.31 and a quick ratio of 0.63. The firm’s 50-day moving average price is $62.99 and its two-hundred day moving average price is $66.84. Hyster-Yale Materials Handling has a 1 year low of $41.35 and a 1 year high of $84.44.

Hyster-Yale Materials Handling (NYSE:HY) last released its earnings results on Tuesday, August 6th. The industrial products company reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $1.30. Hyster-Yale Materials Handling had a net margin of 4.13% and a return on equity of 44.49%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business earned $2.21 EPS. As a group, research analysts predict that Hyster-Yale Materials Handling will post 9.69 earnings per share for the current fiscal year.

Hyster-Yale Materials Handling Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date was Friday, August 30th. Hyster-Yale Materials Handling’s payout ratio is currently 14.00%.

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.