Hyster-Yale Materials Handling (NYSE:HY) Shares Gap Up - Here's What Happened

Hyster-Yale Materials Handling, Inc. (NYSE:HY - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $53.00, but opened at $55.04. Hyster-Yale Materials Handling shares last traded at $54.62, with a volume of 21,061 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Roth Mkm dropped 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 note on Wednesday, November 6th. StockNews.com downgraded Hyster-Yale Materials Handling from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Finally, Northland Capmk lowered Hyster-Yale Materials Handling from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $80.00.

Hyster-Yale Materials Handling Stock Up 0.5 %

The firm has a market capitalization of $932.40 million, a price-to-earnings ratio of 5.97 and a beta of 1.32. 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 stock has a fifty day moving average of $61.85 and a two-hundred day moving average of $66.53.

Hyster-Yale Materials Handling (NYSE:HY - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.97 EPS for the quarter, missing analysts' consensus estimates of $1.97 by ($1.00). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.06 billion. Hyster-Yale Materials Handling had a net margin of 3.68% and a return on equity of 34.77%. During the same quarter last year, the firm posted $2.06 EPS. Sell-side analysts anticipate that Hyster-Yale Materials Handling, Inc. will post 8.85 earnings per share for the current year.

Hyster-Yale Materials Handling Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given 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 2.63%. Hyster-Yale Materials Handling's dividend payout ratio (DPR) is currently 15.71%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HY. Price T Rowe Associates Inc. MD grew its stake in Hyster-Yale Materials Handling by 296.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,397 shares of the industrial products company's stock worth $1,566,000 after purchasing an additional 18,247 shares during the period. Swedbank AB acquired a new stake in shares of Hyster-Yale Materials Handling during the 1st quarter worth approximately $5,519,000. Acadian Asset Management LLC increased its stake in shares of Hyster-Yale Materials Handling by 77.2% in the 1st quarter. Acadian Asset Management LLC now owns 134,959 shares of the industrial products company's stock valued at $8,656,000 after acquiring an additional 58,814 shares in the last quarter. Sei Investments Co. lifted its position in shares of Hyster-Yale Materials Handling by 24.8% during the 2nd quarter. Sei Investments Co. now owns 44,166 shares of the industrial products company's stock valued at $3,080,000 after acquiring an additional 8,764 shares during the period. Finally, Inspire Investing LLC boosted its stake in Hyster-Yale Materials Handling by 86.8% during the third quarter. Inspire Investing LLC now owns 20,299 shares of the industrial products company's stock worth $1,294,000 after acquiring an additional 9,432 shares in the last quarter. 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.