Hyster-Yale Materials Handling, Inc. (NYSE:HY) Short Interest Down 7.5% in January

Hyster-Yale Materials Handling, Inc. (NYSE:HY) was the recipient of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 571,700 shares, a decrease of 7.5% from the January 15th total of 618,000 shares. Based on an average daily volume of 80,400 shares, the days-to-cover ratio is currently 7.1 days. Approximately 6.5% of the shares of the stock are sold short.

Hedge Funds Weigh In On Hyster-Yale Materials Handling

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

Hyster-Yale Materials Handling Price Performance

Shares of NYSE:HY traded up $0.48 during midday trading on Monday, hitting $52.81. The company’s stock had a trading volume of 44,817 shares, compared to its average volume of 60,625. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.61 and a current ratio of 1.36. The business’s 50 day simple moving average is $52.23 and its 200 day simple moving average is $57.72. The company has a market cap of $924.70 million, a P/E ratio of 5.93 and a beta of 1.26. Hyster-Yale Materials Handling has a 12-month low of $48.73 and a 12-month high of $84.44.

Hyster-Yale Materials Handling announced that its board has initiated a stock buyback plan on Monday, November 18th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 5.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Hyster-Yale Materials Handling Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.65%. Hyster-Yale Materials Handling’s payout ratio is currently 15.71%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. StockNews.com cut Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Roth Mkm cut their target price on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Hyster-Yale Materials Handling presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.00.

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.