Hyster-Yale Materials Handling (NYSE:HY) Trading Up 7.3% - Should You Buy?

Hyster-Yale Materials Handling, Inc. (NYSE:HY - Get Free Report) shares shot up 7.3% during mid-day trading on Monday . The stock traded as high as $57.92 and last traded at $57.05. 15,602 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 92,117 shares. The stock had previously closed at $53.17.

Analyst Ratings Changes

Several brokerages have issued reports on HY. StockNews.com downgraded Hyster-Yale Materials Handling from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Roth Mkm cut their price objective on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Finally, Northland Capmk downgraded Hyster-Yale Materials Handling from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.00.

Hyster-Yale Materials Handling Trading Up 3.6 %

The company has a market cap of $964.43 million, a P/E ratio of 6.40 and a beta of 1.32. The company has a quick ratio of 0.61, a current ratio of 1.36 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $61.77 and a two-hundred day moving average price of $66.60.

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). The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.06 billion. Hyster-Yale Materials Handling had a return on equity of 34.77% and a net margin of 3.68%. During the same quarter in the previous year, the firm earned $2.06 EPS. On average, analysts predict that Hyster-Yale Materials Handling, Inc. will post 8.85 EPS for the current year.

Hyster-Yale Materials Handling Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, November 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.54%. Hyster-Yale Materials Handling's dividend payout ratio (DPR) is presently 15.71%.

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

Institutional Investors Weigh In On Hyster-Yale Materials Handling

A number of institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in shares of Hyster-Yale Materials Handling by 0.7% during the third quarter. Geode Capital Management LLC now owns 255,870 shares of the industrial products company's stock worth $16,320,000 after purchasing an additional 1,658 shares during the period. Acadian Asset Management LLC grew its stake in Hyster-Yale Materials Handling by 63.7% in the second quarter. Acadian Asset Management LLC now owns 220,865 shares of the industrial products company's stock valued at $15,390,000 after acquiring an additional 85,906 shares during the period. American Century Companies Inc. grew its stake in Hyster-Yale Materials Handling by 149.8% in the second quarter. American Century Companies Inc. now owns 151,241 shares of the industrial products company's stock valued at $10,546,000 after acquiring an additional 90,696 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in Hyster-Yale Materials Handling by 298.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 132,136 shares of the industrial products company's stock valued at $8,479,000 after acquiring an additional 98,996 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Hyster-Yale Materials Handling by 2.3% in the second 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 acquiring an additional 2,619 shares during the period. 46.47% of the stock is owned by institutional investors and hedge funds.

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.