Hyster-Yale Materials Handling, Inc. (HY) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) from a sell rating to a hold rating in a report released on Wednesday.

According to Zacks, “Hyster-Yale Materials Handling, Inc. designs, engineers, manufactures, sells and services a comprehensive line of lift trucks, warehouse trucks, counterbalanced trucks, cargo, container handling trucks and aftermarket parts. The Company’s products are marketed globally under the Hyster(R) and Yale(R) brand names. It conducts its operations primarily in America, Europe and Asia-Pacific. Hyster-Yale Materials Handling, Inc. is based in Portland, Oregon. “

A number of other research analysts also recently issued reports on HY. Sidoti downgraded shares of Hyster-Yale Materials Handling from a buy rating to a neutral rating and set a $82.00 target price for the company. in a research report on Wednesday, June 7th. BidaskClub downgraded shares of Hyster-Yale Materials Handling from a hold rating to a sell rating in a research report on Saturday, July 8th. Finally, ValuEngine upgraded shares of Hyster-Yale Materials Handling from a hold rating to a buy rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $74.00.

Shares of Hyster-Yale Materials Handling (NYSE:HY) opened at 79.93 on Wednesday. The stock has a 50 day moving average price of $72.00 and a 200 day moving average price of $68.67. Hyster-Yale Materials Handling has a 1-year low of $49.84 and a 1-year high of $80.28. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 22.33 and a beta of 1.06.

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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a $0.3025 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $1.21 dividend on an annualized basis and a yield of 1.51%. Hyster-Yale Materials Handling’s payout ratio is 33.80%.

In other Hyster-Yale Materials Handling news, insider Frank F. Taplin sold 1,464 shares of Hyster-Yale Materials Handling stock in a transaction on Friday, August 25th. The shares were sold at an average price of $68.25, for a total value of $99,918.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Susan Sichel sold 1,250 shares of Hyster-Yale Materials Handling stock in a transaction on Monday, August 7th. The shares were sold at an average price of $64.46, for a total transaction of $80,575.00. Following the completion of the transaction, the insider now directly owns 16,850 shares of the company’s stock, valued at approximately $1,086,151. The disclosure for this sale can be found here. 26.34% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. purchased a new position in Hyster-Yale Materials Handling in the second quarter valued at $966,000. Federated Investors Inc. PA increased its holdings in Hyster-Yale Materials Handling by 2,279,500.0% in the second quarter. Federated Investors Inc. PA now owns 68,388 shares of the industrial products company’s stock valued at $4,805,000 after buying an additional 68,385 shares in the last quarter. SG Americas Securities LLC purchased a new position in Hyster-Yale Materials Handling in the first quarter valued at $110,000. Credit Suisse AG increased its holdings in Hyster-Yale Materials Handling by 27.9% in the first quarter. Credit Suisse AG now owns 17,047 shares of the industrial products company’s stock valued at $962,000 after buying an additional 3,721 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Hyster-Yale Materials Handling by 15.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 81,543 shares of the industrial products company’s stock valued at $4,599,000 after buying an additional 11,080 shares in the last quarter. 51.36% of the stock is owned by institutional investors.

About Hyster-Yale Materials Handling

Hyster-Yale Materials Handling, Inc is a lift truck manufacturer. The Company designs, engineers, manufactures, sells and services a line of lift trucks, attachments and aftermarket parts marketed globally under the Hyster and Yale brand names, mainly to independent Hyster and Yale retail dealerships.

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