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

Hyster-Yale Materials Handling, Inc. (NYSE:HY - Get Free Report) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.35 per share by the industrial products company on Friday, March 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Friday, February 28th.

Hyster-Yale Materials Handling has raised its dividend by an average of 2.3% annually over the last three years. Hyster-Yale Materials Handling has a payout ratio of 23.6% 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 Trading Up 0.9 %

Shares of NYSE:HY traded up $0.48 during trading on Friday, reaching $52.81. The company's stock had a trading volume of 44,817 shares, compared to its average volume of 60,625. The stock has a market capitalization of $924.60 million, a PE ratio of 5.93 and a beta of 1.26. Hyster-Yale Materials Handling has a 12 month low of $48.73 and a 12 month high of $84.44. 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 firm's 50 day simple moving average is $52.28 and its two-hundred day simple moving average is $57.91.

Analyst Upgrades and Downgrades

HY has been the topic of a number of analyst reports. StockNews.com downgraded shares of Hyster-Yale Materials Handling from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. Roth Mkm reduced their price objective on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $80.00.

Hyster-Yale Materials Handling announced that its Board of Directors has initiated a share repurchase program on Monday, November 18th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

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.