Hyster-Yale Materials Handling (NYSE:HY) Raised 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 dropped 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Hyster-Yale Materials Handling Trading Up 1.3 %

NYSE:HY opened at $53.92 on Thursday. Hyster-Yale Materials Handling has a 52 week low of $48.73 and a 52 week high of $84.44. The firm has a 50-day moving average price of $52.08 and a two-hundred day moving average price of $57.16. 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 cap of $944.07 million, a price-to-earnings ratio of 6.05 and a beta of 1.26.

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

Hyster-Yale Materials Handling Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders 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 dividend yield of 2.60%. The ex-dividend date is Friday, February 28th. Hyster-Yale Materials Handling’s dividend payout ratio is currently 15.71%.

Hedge Funds Weigh In On Hyster-Yale Materials Handling

Institutional investors have recently bought and sold shares of the company. Shufro Rose & Co. LLC bought a new stake in shares of Hyster-Yale Materials Handling in the fourth quarter valued at $458,000. Mackenzie Financial Corp purchased a new stake in Hyster-Yale Materials Handling in the 4th quarter worth about $242,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Hyster-Yale Materials Handling by 17.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,789 shares of the industrial products company’s stock valued at $855,000 after acquiring an additional 2,468 shares during the period. Two Sigma Advisers LP raised its stake in Hyster-Yale Materials Handling by 118.2% in the 4th quarter. Two Sigma Advisers LP now owns 7,200 shares of the industrial products company’s stock valued at $367,000 after acquiring an additional 3,900 shares during the period. Finally, Two Sigma Investments LP lifted its holdings in Hyster-Yale Materials Handling by 162.5% during the fourth quarter. Two Sigma Investments LP now owns 20,426 shares of the industrial products company’s stock valued at $1,040,000 after purchasing an additional 12,645 shares during the last quarter. Hedge funds and other institutional investors own 46.47% of the company’s stock.

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.