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

Hyster-Yale Materials Handling, Inc. (NYSE:HY - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $62.68, but opened at $55.49. Hyster-Yale Materials Handling shares last traded at $51.19, with a volume of 19,885 shares trading hands.

Analyst Upgrades and Downgrades

HY has been the subject of a number of analyst reports. StockNews.com raised Hyster-Yale Materials Handling from a "hold" rating to a "buy" rating in a research note on Tuesday, September 24th. Northland Capmk cut Hyster-Yale Materials Handling from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 7th. Finally, Roth Mkm reaffirmed a "buy" rating and set a $84.00 price objective (down from $87.00) on shares of Hyster-Yale Materials Handling in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.00.

Hyster-Yale Materials Handling Stock Down 14.6 %

The firm has a 50-day moving average price of $62.86 and a 200 day moving average price of $66.92. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.31 and a quick ratio of 0.63. The company has a market cap of $936.25 million, a price-to-earnings ratio of 5.35 and a beta of 1.32.

Hyster-Yale Materials Handling (NYSE:HY - Get Free Report) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $3.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.28 by $1.30. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.08 billion. Hyster-Yale Materials Handling had a return on equity of 44.49% and a net margin of 4.13%. During the same quarter last year, the business posted $2.21 EPS. Sell-side analysts predict that Hyster-Yale Materials Handling, Inc. will post 9.69 EPS for the current year.

Hyster-Yale Materials Handling Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.62%. The ex-dividend date was Friday, August 30th. Hyster-Yale Materials Handling's payout ratio is presently 14.00%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC raised its position in shares of Hyster-Yale Materials Handling by 63.7% in the 2nd quarter. Acadian Asset Management LLC now owns 220,865 shares of the industrial products company's stock worth $15,390,000 after acquiring an additional 85,906 shares in the last quarter. American Century Companies Inc. boosted its stake in Hyster-Yale Materials Handling by 149.8% during the 2nd quarter. American Century Companies Inc. now owns 151,241 shares of the industrial products company's stock valued at $10,546,000 after purchasing an additional 90,696 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Hyster-Yale Materials Handling by 298.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 132,136 shares of the industrial products company's stock valued at $8,479,000 after purchasing an additional 98,996 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Hyster-Yale Materials Handling by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 115,550 shares of the industrial products company's stock valued at $8,057,000 after purchasing an additional 2,619 shares during the last quarter. Finally, Swedbank AB acquired a new position in Hyster-Yale Materials Handling during the 1st quarter valued at about $5,519,000. 46.47% of the stock is owned by institutional investors.

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.