Hyster-Yale Materials Handling (NYSE:HY) Stock Price Up 3.6% - Still a Buy?

Hyster-Yale Materials Handling, Inc. (NYSE:HY - Get Free Report) traded up 3.6% during trading on Friday . The stock traded as high as $51.56 and last traded at $51.56. 18,939 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 91,425 shares. The stock had previously closed at $49.77.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Roth Mkm dropped their price target on shares of 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. StockNews.com cut Hyster-Yale Materials Handling from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $80.00.

Hyster-Yale Materials Handling Trading Up 1.4 %

The business's 50 day moving average price is $58.50 and its two-hundred day moving average price is $63.84. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.61 and a current ratio of 1.36. The company has a market capitalization of $883.45 million, a price-to-earnings ratio of 5.66 and a beta of 1.25.

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

Hyster-Yale Materials Handling Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Friday, November 29th. Hyster-Yale Materials Handling's dividend payout ratio (DPR) is presently 15.71%.

Hyster-Yale Materials Handling declared that its board has authorized a stock buyback 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 buy up to 5.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HY. The Manufacturers Life Insurance Company increased its stake in Hyster-Yale Materials Handling by 4.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,442 shares of the industrial products company's stock worth $310,000 after purchasing an additional 200 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Hyster-Yale Materials Handling by 0.5% during the second quarter. AQR Capital Management LLC now owns 76,587 shares of the industrial products company's stock valued at $5,340,000 after acquiring an additional 363 shares during the period. Covestor Ltd lifted its position in shares of Hyster-Yale Materials Handling by 21,350.0% in the 3rd quarter. Covestor Ltd now owns 429 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 427 shares in the last quarter. Dark Forest Capital Management LP boosted its stake in Hyster-Yale Materials Handling by 9.4% in the 2nd quarter. Dark Forest Capital Management LP now owns 5,873 shares of the industrial products company's stock worth $410,000 after purchasing an additional 503 shares during the period. Finally, Pinpoint Asset Management Ltd purchased a new position in Hyster-Yale Materials Handling during the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 46.47% of the company's stock.

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.