Hyster-Yale Materials Handling (HY) Upgraded at ValuEngine

ValuEngine upgraded shares of Hyster-Yale Materials Handling (NYSE:HY) from a sell rating to a hold rating in a research report released on Friday.

Other analysts have also issued reports about the stock. TheStreet lowered shares of Hyster-Yale Materials Handling from a b rating to a c rating in a report on Friday, August 3rd. Zacks Investment Research upgraded shares of Hyster-Yale Materials Handling from a sell rating to a hold rating in a report on Thursday, June 28th. Five investment analysts have rated the stock with a hold rating, The stock has a consensus rating of Hold and an average target price of $66.00.

Shares of HY opened at $65.67 on Friday. The stock has a market capitalization of $1.10 billion, a P/E ratio of 16.24 and a beta of 1.25. Hyster-Yale Materials Handling has a 12-month low of $56.40 and a 12-month high of $93.90. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.87 and a current ratio of 1.51.

Hyster-Yale Materials Handling (NYSE:HY) last issued its quarterly earnings data on Tuesday, July 31st. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.19). The company had revenue of $765.60 million during the quarter, compared to analysts’ expectations of $797.00 million. Hyster-Yale Materials Handling had a net margin of 1.14% and a return on equity of 8.26%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 earnings per share. analysts expect that Hyster-Yale Materials Handling will post 3.31 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.89%. Hyster-Yale Materials Handling’s payout ratio is 30.54%.

In other Hyster-Yale Materials Handling news, Chairman Alfred M. Et Al Rankin purchased 418 shares of the stock in a transaction that occurred on Monday, September 17th. The stock was purchased at an average cost of $64.99 per share, with a total value of $27,165.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Alfred M. Et Al Rankin purchased 3,143 shares of the stock in a transaction that occurred on Friday, September 7th. The stock was acquired at an average cost of $62.34 per share, with a total value of $195,934.62. The disclosure for this purchase can be found here. Insiders have purchased 10,461 shares of company stock worth $656,796 over the last 90 days. Insiders own 26.58% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in HY. Matarin Capital Management LLC acquired a new position in Hyster-Yale Materials Handling in the first quarter valued at approximately $5,329,000. Diamond Hill Capital Management Inc. boosted its holdings in shares of Hyster-Yale Materials Handling by 28.6% in the second quarter. Diamond Hill Capital Management Inc. now owns 216,672 shares of the industrial products company’s stock valued at $13,921,000 after acquiring an additional 48,193 shares during the period. BlackRock Inc. boosted its holdings in shares of Hyster-Yale Materials Handling by 5.9% in the second quarter. BlackRock Inc. now owns 659,197 shares of the industrial products company’s stock valued at $42,353,000 after acquiring an additional 36,744 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Hyster-Yale Materials Handling by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 950,676 shares of the industrial products company’s stock valued at $61,081,000 after acquiring an additional 34,490 shares during the period. Finally, Millennium Management LLC acquired a new stake in shares of Hyster-Yale Materials Handling in the first quarter valued at approximately $2,158,000. 50.63% of the stock is owned by hedge funds and other institutional investors.

About Hyster-Yale Materials Handling

Hyster-Yale Materials Handling, Inc, through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks and aftermarket parts worldwide. The company operates through five segments: the Americas, EMEA, JAPIC, Bolzoni, and Nuvera. It manufactures components, such as frames, masts, and transmissions; and assembles lift trucks.

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