Hyster-Yale Materials Handling (HY) Upgraded by TheStreet to B

TheStreet upgraded shares of Hyster-Yale Materials Handling (NYSE:HY) from a c+ rating to a b rating in a research note issued to investors on Wednesday.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird cut Hyster-Yale Materials Handling from an outperform rating to a neutral rating and set a $76.00 target price on the stock. in a report on Friday, March 2nd. ValuEngine raised Hyster-Yale Materials Handling from a hold rating to a buy rating in a report on Saturday, March 17th. Zacks Investment Research cut Hyster-Yale Materials Handling from a hold rating to a sell rating in a report on Wednesday, March 7th. Finally, Seaport Global Securities raised Hyster-Yale Materials Handling from a sell rating to a neutral rating in a report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $71.33.

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NYSE HY opened at $67.90 on Wednesday. The firm has a market cap of $1.13 billion, a P/E ratio of 16.72 and a beta of 1.14. The company has a current ratio of 1.68, a quick ratio of 1.07 and a debt-to-equity ratio of 0.34. Hyster-Yale Materials Handling has a fifty-two week low of $62.62 and a fifty-two week high of $93.90.

Hyster-Yale Materials Handling (NYSE:HY) last posted its quarterly earnings results on Tuesday, February 27th. The industrial products company reported $0.97 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.97. The business had revenue of $795.50 million for the quarter, compared to analysts’ expectations of $755.30 million. Hyster-Yale Materials Handling had a return on equity of 10.39% and a net margin of 1.53%. equities research analysts anticipate that Hyster-Yale Materials Handling will post 4.07 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, June 1st will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Thursday, May 31st. This is a positive change from Hyster-Yale Materials Handling’s previous quarterly dividend of $0.30. Hyster-Yale Materials Handling’s payout ratio is 29.80%.

In related news, insider Theodore D. Taplin sold 854 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $69.65, for a total value of $59,481.10. Following the completion of the sale, the insider now owns 47,472 shares in the company, valued at $3,306,424.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Theodore D. Taplin sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 10th. The shares were sold at an average price of $67.45, for a total value of $67,450.00. Following the completion of the sale, the insider now owns 47,072 shares of the company’s stock, valued at approximately $3,175,006.40. The disclosure for this sale can be found here. Insiders have sold 2,854 shares of company stock valued at $195,131 in the last 90 days. Company insiders own 26.34% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in HY. Wells Fargo & Company MN boosted its holdings in shares of Hyster-Yale Materials Handling by 43.5% in the third quarter. Wells Fargo & Company MN now owns 11,072 shares of the industrial products company’s stock valued at $846,000 after purchasing an additional 3,354 shares during the period. Bank of Montreal Can boosted its holdings in shares of Hyster-Yale Materials Handling by 41.2% in the fourth quarter. Bank of Montreal Can now owns 19,154 shares of the industrial products company’s stock valued at $1,631,000 after purchasing an additional 5,585 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Hyster-Yale Materials Handling by 4.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 98,126 shares of the industrial products company’s stock valued at $8,357,000 after purchasing an additional 4,282 shares during the period. Foundry Partners LLC boosted its holdings in shares of Hyster-Yale Materials Handling by 3.3% in the fourth quarter. Foundry Partners LLC now owns 120,101 shares of the industrial products company’s stock valued at $10,228,000 after purchasing an additional 3,813 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Hyster-Yale Materials Handling by 8.4% in the fourth quarter. American Century Companies Inc. now owns 44,591 shares of the industrial products company’s stock valued at $3,797,000 after purchasing an additional 3,437 shares during the period. Hedge funds and other institutional investors own 51.45% of the company’s stock.

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 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.