Hyster-Yale Materials Handling, Inc. (NYSE:HY) Short Interest Update

Hyster-Yale Materials Handling, Inc. (NYSE:HY - Get Free Report) saw a large decline in short interest in January. As of January 31st, there was short interest totalling 571,700 shares, a decline of 7.5% from the January 15th total of 618,000 shares. Based on an average daily trading volume, of 80,400 shares, the short-interest ratio is presently 7.1 days. Approximately 6.5% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of research firms have recently commented on HY. StockNews.com downgraded Hyster-Yale Materials Handling from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. Roth Mkm decreased their target price 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. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $80.00.

Hyster-Yale Materials Handling Price Performance

Shares of NYSE HY traded down $1.45 during mid-day trading on Friday, reaching $52.00. The company had a trading volume of 58,220 shares, compared to its average volume of 65,315. 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 stock has a market cap of $910.33 million, a PE ratio of 5.84 and a beta of 1.26. The company has a 50-day moving average price of $52.16 and a two-hundred day moving average price of $57.53. Hyster-Yale Materials Handling has a 1-year low of $48.73 and a 1-year high of $84.44.

Remove Ads

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

Hyster-Yale Materials Handling Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.69%. Hyster-Yale Materials Handling's dividend payout ratio is 15.71%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC grew its holdings in shares of Hyster-Yale Materials Handling by 19.0% during the third quarter. Barclays PLC now owns 26,492 shares of the industrial products company's stock valued at $1,690,000 after buying an additional 4,226 shares in the last quarter. FMR LLC grew its holdings in shares of Hyster-Yale Materials Handling by 31.9% during the third quarter. FMR LLC now owns 51,280 shares of the industrial products company's stock valued at $3,270,000 after buying an additional 12,390 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Hyster-Yale Materials Handling during the third quarter valued at $866,000. Martingale Asset Management L P purchased a new position in shares of Hyster-Yale Materials Handling during the third quarter valued at $675,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Hyster-Yale Materials Handling during the third quarter valued at $582,000. 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.