Hyster-Yale Materials Handling, Inc. (NYSE:HY) Sees Large Drop in Short Interest

Hyster-Yale Materials Handling, Inc. (NYSE:HY - Get Free Report) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 646,700 shares, a drop of 6.3% from the August 15th total of 690,100 shares. Based on an average trading volume of 88,400 shares, the days-to-cover ratio is presently 7.3 days. Approximately 7.2% of the shares of the stock are short sold.

Institutional Trading of Hyster-Yale Materials Handling

Several hedge funds have recently made changes to their positions in the business. EntryPoint Capital LLC purchased a new position in Hyster-Yale Materials Handling in the first quarter valued at $27,000. Quest Partners LLC boosted its stake in shares of Hyster-Yale Materials Handling by 6,692.3% in the 2nd quarter. Quest Partners LLC now owns 883 shares of the industrial products company's stock valued at $62,000 after buying an additional 870 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Hyster-Yale Materials Handling during the second quarter worth about $67,000. DekaBank Deutsche Girozentrale increased its stake in shares of Hyster-Yale Materials Handling by 67.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,356 shares of the industrial products company's stock worth $83,000 after buying an additional 548 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Hyster-Yale Materials Handling during the first quarter worth approximately $190,000. Institutional investors and hedge funds own 46.47% of the company's stock.

Analyst Ratings Changes

HY has been the subject of a number of research reports. Roth Mkm reaffirmed a "buy" rating and set a $84.00 target price (down previously from $87.00) on shares of Hyster-Yale Materials Handling in a report on Thursday, August 8th. Northland Capmk downgraded shares of Hyster-Yale Materials Handling from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 7th. StockNews.com lowered shares of Hyster-Yale Materials Handling from a "buy" rating to a "hold" rating in a research note on Tuesday, September 10th. Finally, Northland Securities upgraded Hyster-Yale Materials Handling from a "market perform" rating to an "outperform" rating and set a $90.00 price target for the company in a research report on Wednesday, June 5th. 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 company presently has a consensus rating of "Moderate Buy" and an average price target of $87.00.

Hyster-Yale Materials Handling Trading Down 0.9 %

Hyster-Yale Materials Handling stock traded down $0.56 during midday trading on Wednesday, hitting $60.32. 60,370 shares of the stock were exchanged, compared to its average volume of 95,879. The company has a current ratio of 1.31, a quick ratio of 0.63 and a debt-to-equity ratio of 0.53. The stock's 50-day simple moving average is $65.57 and its 200 day simple moving average is $66.10. Hyster-Yale Materials Handling has a fifty-two week low of $38.50 and a fifty-two week high of $84.44. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 7.02 and a beta of 1.31.

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

Hyster-Yale Materials Handling Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.32%. The ex-dividend date was Friday, August 30th. Hyster-Yale Materials Handling's payout ratio is 16.22%.

Hyster-Yale Materials Handling Company Profile

Hyster-Yale Materials Handling, 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.