Hyster-Yale Materials Handling, Inc. Announces Quarterly Dividend of $0.35 (NYSE:HY)

Hyster-Yale Materials Handling, Inc. (NYSE:HY) announced a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.35 per share by the industrial products company on Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, November 29th.

Hyster-Yale Materials Handling has raised its dividend by an average of 0.7% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. Hyster-Yale Materials Handling has a dividend payout ratio of 26.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Hyster-Yale Materials Handling to earn $5.39 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 26.0%.

Hyster-Yale Materials Handling Price Performance

Shares of HY opened at $57.03 on Wednesday. The business has a 50-day moving average of $61.36 and a 200-day moving average of $66.07. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.61. The company has a market capitalization of $998.60 million, a price-to-earnings ratio of 6.40 and a beta of 1.32. Hyster-Yale Materials Handling has a 1 year low of $47.05 and a 1 year high of $84.44.

Hyster-Yale Materials Handling (NYSE:HY) last issued its earnings results on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by ($1.00). The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.06 billion. Hyster-Yale Materials Handling had a return on equity of 34.77% and a net margin of 3.68%. During the same quarter in the previous year, the firm posted $2.06 earnings per share. As a group, equities research analysts anticipate that Hyster-Yale Materials Handling will post 8.85 earnings per share for the current year.

Hyster-Yale Materials Handling declared that its Board of Directors has authorized a stock buyback plan on Monday, November 18th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 5.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HY. Northland Capmk downgraded shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. StockNews.com lowered shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Roth Mkm reduced their price target on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Hyster-Yale Materials Handling presently has an average rating of “Moderate Buy” and an average target price 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.