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

Hyster-Yale Materials Handling, Inc. (NYSE:HY - Get Free Report) was the target of a large growth in short interest in October. As of October 15th, there was short interest totalling 682,800 shares, a growth of 6.8% from the September 30th total of 639,500 shares. Approximately 7.3% of the shares of the company are short sold. Based on an average daily volume of 78,000 shares, the days-to-cover ratio is presently 8.8 days.

Institutional Trading of Hyster-Yale Materials Handling

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Hyster-Yale Materials Handling by 29.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 287,698 shares of the industrial products company's stock valued at $18,462,000 after acquiring an additional 65,708 shares during the period. Acadian Asset Management LLC increased 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 purchasing an additional 85,906 shares during the period. American Century Companies Inc. raised its holdings in shares of 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 buying an additional 90,696 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Hyster-Yale Materials Handling by 298.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 132,136 shares of the industrial products company's stock worth $8,479,000 after buying an additional 98,996 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Hyster-Yale Materials Handling by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 115,550 shares of the industrial products company's stock worth $8,057,000 after buying an additional 2,619 shares during the last quarter. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HY has been the subject of several research reports. Roth Mkm restated 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. Northland Capmk downgraded Hyster-Yale Materials Handling from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 7th. Finally, StockNews.com raised shares of Hyster-Yale Materials Handling from a "hold" rating to a "buy" rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $87.00.

Hyster-Yale Materials Handling Price Performance

HY stock traded down $1.28 during midday trading on Friday, reaching $62.19. The stock had a trading volume of 47,687 shares, compared to its average volume of 90,711. Hyster-Yale Materials Handling has a 52-week low of $41.35 and a 52-week high of $84.44. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 6.35 and a beta of 1.31. The company's fifty day simple moving average is $62.99 and its 200 day simple moving average is $66.84. The company has a current ratio of 1.31, a quick ratio of 0.63 and a debt-to-equity ratio of 0.53.

Hyster-Yale Materials Handling (NYSE:HY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $3.58 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the business earned $2.21 earnings per share. As a group, sell-side analysts predict that Hyster-Yale Materials Handling will post 9.69 earnings per share for the current fiscal year.

Hyster-Yale Materials Handling Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.40 annualized dividend and a yield of 2.25%. Hyster-Yale Materials Handling's dividend payout ratio (DPR) is 14.00%.

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.