Hyster-Yale Materials Handling (NYSE:HY) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Hyster-Yale Materials Handling (NYSE:HY) from a hold rating to a buy rating in a report published on Thursday.

Separately, Roth Mkm lowered their price target on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Hyster-Yale Materials Handling currently has an average rating of “Moderate Buy” and a consensus target price of $80.00.

Hyster-Yale Materials Handling Trading Down 5.8 %

Hyster-Yale Materials Handling stock opened at $50.65 on Thursday. Hyster-Yale Materials Handling has a 52 week low of $48.73 and a 52 week high of $84.44. 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 firm has a market capitalization of $886.83 million, a price-to-earnings ratio of 5.68 and a beta of 1.26. The company has a 50 day moving average price of $52.16 and a 200 day moving average price of $57.08.

Hyster-Yale Materials Handling Announces Dividend

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. This represents a $1.40 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Friday, February 28th. Hyster-Yale Materials Handling’s payout ratio is presently 17.37%.

Hyster-Yale Materials Handling announced that its board has initiated a share repurchase program on Monday, November 18th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the industrial products company to buy up to 5.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Hyster-Yale Materials Handling

Several institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Hyster-Yale Materials Handling by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 515,809 shares of the industrial products company’s stock worth $26,270,000 after acquiring an additional 5,366 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Hyster-Yale Materials Handling by 15.8% during the 4th quarter. American Century Companies Inc. now owns 274,924 shares of the industrial products company’s stock worth $14,002,000 after purchasing an additional 37,432 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Hyster-Yale Materials Handling by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 255,870 shares of the industrial products company’s stock worth $16,320,000 after purchasing an additional 1,658 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Hyster-Yale Materials Handling by 16.0% during the 4th quarter. ProShare Advisors LLC now owns 144,433 shares of the industrial products company’s stock valued at $7,356,000 after buying an additional 19,975 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Hyster-Yale Materials Handling by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 115,159 shares of the industrial products company’s stock valued at $7,344,000 after buying an additional 4,296 shares in the last quarter. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

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.