Hyster-Yale (NYSE:HY) Stock Price Down 7% – Time to Sell?

Hyster-Yale, Inc. (NYSE:HY) dropped 7% during mid-day trading on Tuesday . The stock traded as low as $31.30 and last traded at $31.40. Approximately 46,343 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 94,267 shares. The stock had previously closed at $33.77.

Analyst Ratings Changes

HY has been the topic of several analyst reports. Zacks Research raised shares of Hyster-Yale from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Northland Securities upgraded Hyster-Yale from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research note on Monday, March 2nd. Wall Street Zen cut Hyster-Yale from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Finally, Weiss Ratings cut Hyster-Yale from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $45.00.

Hyster-Yale Trading Down 6.8%

The stock has a 50-day moving average of $34.90 and a 200 day moving average of $33.91. The stock has a market cap of $563.85 million, a PE ratio of -5.63 and a beta of 1.66. The company has a quick ratio of 0.67, a current ratio of 1.31 and a debt-to-equity ratio of 0.58.

Hyster-Yale (NYSE:HY) last issued its earnings results on Tuesday, May 5th. The industrial products company reported ($1.64) EPS for the quarter, beating analysts’ consensus estimates of ($2.02) by $0.38. Hyster-Yale had a negative return on equity of 13.96% and a negative net margin of 2.71%.The firm had revenue of $795.20 million for the quarter, compared to analyst estimates of $878.10 million. As a group, sell-side analysts anticipate that Hyster-Yale, Inc. will post -2.75 earnings per share for the current year.

Hyster-Yale Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Monday, June 1st will be issued a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a dividend yield of 4.6%. This is a boost from Hyster-Yale’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, June 1st. Hyster-Yale’s dividend payout ratio is -25.76%.

Institutional Trading of Hyster-Yale

A number of hedge funds have recently modified their holdings of HY. Amundi boosted its stake in shares of Hyster-Yale by 10.1% in the first quarter. Amundi now owns 4,844 shares of the industrial products company’s stock worth $201,000 after buying an additional 444 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Hyster-Yale by 110.6% in the first quarter. AQR Capital Management LLC now owns 79,582 shares of the industrial products company’s stock worth $3,306,000 after buying an additional 41,795 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Hyster-Yale by 20.5% in the first quarter. Millennium Management LLC now owns 119,560 shares of the industrial products company’s stock worth $4,967,000 after buying an additional 20,305 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Hyster-Yale by 99.6% during the 1st quarter. Empowered Funds LLC now owns 48,701 shares of the industrial products company’s stock valued at $2,023,000 after purchasing an additional 24,302 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Hyster-Yale by 19.8% during the 1st quarter. Jane Street Group LLC now owns 35,034 shares of the industrial products company’s stock valued at $1,455,000 after purchasing an additional 5,802 shares in the last quarter. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Hyster-Yale Company Profile

Hyster-Yale Materials Handling, Inc is a global manufacturer and distributor of a wide range of industrial lift trucks, container handlers and aftermarket parts and services. Operating under the Hyster and Yale brand names, the company designs, engineers and assembles counterbalanced lift trucks, narrow-aisle trucks and specialty vehicles for clients in distribution, manufacturing, retail and warehousing.

The company’s product portfolio includes electric, diesel and LPG-powered forklifts, as well as reach stackers, empty container handlers and terminal tractors.