Hyster-Yale Materials Handling (NYSE:HY) Reaches New 12-Month High at $72.51

Hyster-Yale Materials Handling, Inc. (NYSE:HY) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $72.51 and last traded at $69.90, with a volume of 148076 shares traded. The stock had previously closed at $59.02.

Analysts Set New Price Targets

Several research firms recently issued reports on HY. TheStreet cut Hyster-Yale Materials Handling from a “b-” rating to a “c” rating in a research report on Monday, March 4th. StockNews.com cut Hyster-Yale Materials Handling from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 28th. Finally, Roth Mkm reissued a “buy” rating and set a $87.00 price target (up from $85.00) on shares of Hyster-Yale Materials Handling in a report on Thursday.

Hyster-Yale Materials Handling Price Performance

The company has a current ratio of 1.22, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $1.38 billion, a PE ratio of 10.91 and a beta of 1.49. The firm has a 50 day moving average price of $61.03 and a 200 day moving average price of $58.61.

Hyster-Yale Materials Handling (NYSE:HY) last issued its quarterly earnings results on Tuesday, February 27th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). Hyster-Yale Materials Handling had a return on equity of 40.35% and a net margin of 3.06%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Research analysts anticipate that Hyster-Yale Materials Handling, Inc. will post 7.06 earnings per share for the current year.

Hyster-Yale Materials Handling Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Friday, May 31st. This is a positive change from Hyster-Yale Materials Handling’s previous quarterly dividend of $0.33. Hyster-Yale Materials Handling’s dividend payout ratio is presently 17.93%.

Insiders Place Their Bets

In other Hyster-Yale Materials Handling news, insider Frank F. Taplin sold 11,720 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $58.10, for a total value of $680,932.00. Following the completion of the sale, the insider now owns 367,152 shares in the company, valued at approximately $21,331,531.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Frank F. Taplin sold 5,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $58.65, for a total value of $293,250.00. Following the completion of the transaction, the insider now directly owns 378,872 shares of the company’s stock, valued at $22,220,842.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Frank F. Taplin sold 11,720 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $58.10, for a total transaction of $680,932.00. Following the sale, the insider now directly owns 367,152 shares in the company, valued at approximately $21,331,531.20. The disclosure for this sale can be found here. 33.93% of the stock is currently owned by company insiders.

Institutional Trading of Hyster-Yale Materials Handling

Large investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC lifted its position in Hyster-Yale Materials Handling by 10.3% in the third quarter. Los Angeles Capital Management LLC now owns 39,453 shares of the industrial products company’s stock worth $1,759,000 after buying an additional 3,700 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Hyster-Yale Materials Handling by 86.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 124,733 shares of the industrial products company’s stock worth $7,757,000 after purchasing an additional 57,758 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of Hyster-Yale Materials Handling during the third quarter valued at approximately $334,000. FMR LLC lifted its stake in shares of Hyster-Yale Materials Handling by 60.6% during the 3rd quarter. FMR LLC now owns 589,093 shares of the industrial products company’s stock worth $26,262,000 after acquiring an additional 222,340 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Hyster-Yale Materials Handling by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 945,578 shares of the industrial products company’s stock valued at $42,154,000 after buying an additional 12,747 shares in the last quarter. 46.47% of the stock is currently owned by institutional investors.

About Hyster-Yale Materials Handling

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.