Hyster-Yale Materials Handling (NYSE:HY) Shares Gap Down – What’s Next?

Hyster-Yale Materials Handling, Inc. (NYSE:HY)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $56.24, but opened at $55.06. Hyster-Yale Materials Handling shares last traded at $55.76, with a volume of 17,214 shares traded.

Wall Street Analyst Weigh In

HY has been the topic of a number of recent research reports. Roth Mkm lowered 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. Northland Capmk cut shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, StockNews.com downgraded shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

Hyster-Yale Materials Handling Trading Up 0.7 %

The stock has a market capitalization of $991.13 million, a price-to-earnings ratio of 6.31 and a beta of 1.32. The company has a current ratio of 1.36, a quick ratio of 0.61 and a debt-to-equity ratio of 0.46. The company has a fifty day moving average of $61.04 and a two-hundred day moving average of $65.67.

Hyster-Yale Materials Handling (NYSE:HY) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by ($1.00). The firm had revenue of $1.02 billion for 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 period in the prior year, the company posted $2.06 earnings per share. On average, research analysts expect that Hyster-Yale Materials Handling, Inc. will post 8.85 EPS for the current year.

Hyster-Yale Materials Handling Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.47%. Hyster-Yale Materials Handling’s payout ratio is presently 15.71%.

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

Institutional Investors Weigh In On Hyster-Yale Materials Handling

Several hedge funds have recently modified their holdings of the business. Covestor Ltd increased its position in Hyster-Yale Materials Handling by 21,350.0% during the third quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 427 shares during the period. Pinpoint Asset Management Ltd acquired a new stake in Hyster-Yale Materials Handling in the 3rd quarter worth $32,000. Quest Partners LLC increased its holdings in shares of Hyster-Yale Materials Handling by 6,692.3% during the 2nd quarter. Quest Partners LLC now owns 883 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 870 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Hyster-Yale Materials Handling during the second quarter valued at about $67,000. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Hyster-Yale Materials Handling by 67.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,356 shares of the industrial products company’s stock valued at $83,000 after buying an additional 548 shares during the period. 46.47% of the stock is owned by institutional investors.

About Hyster-Yale Materials Handling

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.