Hyster-Yale Materials Handling, Inc. (NYSE:HY) Short Interest Update

Hyster-Yale Materials Handling, Inc. (NYSE:HY - Get Free Report) was the recipient of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 571,700 shares, a decrease of 7.5% from the January 15th total of 618,000 shares. Approximately 6.5% of the company's shares are sold short. Based on an average daily volume of 80,400 shares, the days-to-cover ratio is currently 7.1 days.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on HY shares. StockNews.com lowered shares of Hyster-Yale Materials Handling from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. Roth Mkm dropped their price objective on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Two investment 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 has a consensus rating of "Moderate Buy" and a consensus price target of $80.00.

Hyster-Yale Materials Handling Trading Down 2.7 %

HY stock traded down $1.45 during mid-day trading on Friday, hitting $52.00. 58,220 shares of the company were exchanged, compared to its average volume of 50,577. 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 firm has a market capitalization of $910.43 million, a P/E ratio of 5.84 and a beta of 1.26. The business has a fifty day simple moving average of $52.16 and a 200-day simple moving average of $57.53. Hyster-Yale Materials Handling has a 12-month low of $48.73 and a 12-month high of $84.44.

Hyster-Yale Materials Handling announced that its Board of Directors has authorized a stock buyback plan on Monday, November 18th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 5.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Hyster-Yale Materials Handling Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.35 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.40 annualized dividend and a yield of 2.69%. Hyster-Yale Materials Handling's dividend payout ratio (DPR) is 15.71%.

Institutional Trading of Hyster-Yale Materials Handling

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HY. Covestor Ltd raised its holdings in Hyster-Yale Materials Handling by 21,350.0% during the third quarter. Covestor Ltd now owns 429 shares of the industrial products company's stock worth $27,000 after purchasing an additional 427 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Hyster-Yale Materials Handling during the fourth quarter worth approximately $27,000. Pinpoint Asset Management Ltd acquired a new stake in Hyster-Yale Materials Handling during the third quarter worth approximately $32,000. Meeder Asset Management Inc. raised its holdings in Hyster-Yale Materials Handling by 421.8% during the fourth quarter. Meeder Asset Management Inc. now owns 741 shares of the industrial products company's stock worth $38,000 after purchasing an additional 599 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Hyster-Yale Materials Handling during the fourth quarter worth approximately $76,000. 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.