Zacks Investment Research Lowers Hyster-Yale Materials Handling, Inc. (HY) to Sell

Hyster-Yale Materials Handling, Inc. (NYSE:HY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

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 firms also recently commented on HY. ValuEngine downgraded shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Sidoti upgraded shares of Hyster-Yale Materials Handling from a “neutral” rating to a “buy” rating in a report on Tuesday, August 8th. Finally, BidaskClub downgraded shares of Hyster-Yale Materials Handling from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Hyster-Yale Materials Handling presently has a consensus rating of “Hold” and an average target price of $74.00.

Shares of Hyster-Yale Materials Handling (NYSE HY) traded up 1.02% on Thursday, hitting $81.82. The company’s stock had a trading volume of 75,705 shares. Hyster-Yale Materials Handling has a one year low of $49.84 and a one year high of $82.32. The stock has a 50-day moving average price of $75.08 and a 200 day moving average price of $70.21. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 22.85 and a beta of 1.06.

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

A number of institutional investors have recently bought and sold shares of the stock. Curbstone Financial Management Corp increased its holdings in Hyster-Yale Materials Handling by 100.0% in the 3rd quarter. Curbstone Financial Management Corp now owns 61,940 shares of the industrial products company’s stock valued at $4,735,000 after purchasing an additional 30,970 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Hyster-Yale Materials Handling in the 2nd quarter valued at approximately $1,032,000. Argent Capital Management LLC acquired a new stake in Hyster-Yale Materials Handling in the 2nd quarter valued at approximately $2,359,000. The Manufacturers Life Insurance Company increased its holdings in Hyster-Yale Materials Handling by 8.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,131 shares of the industrial products company’s stock valued at $572,000 after purchasing an additional 648 shares during the last quarter. Finally, State Street Corp increased its holdings in Hyster-Yale Materials Handling by 10.4% in the 2nd quarter. State Street Corp now owns 219,916 shares of the industrial products company’s stock valued at $15,446,000 after purchasing an additional 20,740 shares during the last quarter. Hedge funds and other institutional investors own 51.54% of the company’s stock.

Hyster-Yale Materials Handling Company Profile

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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