Hyster-Yale (NYSE:HY) Shares Down 6.3% – Time to Sell?

Hyster-Yale, Inc. (NYSE:HY) shares fell 6.3% during trading on Monday . The company traded as low as $33.81 and last traded at $33.9540. 22,518 shares were traded during trading, a decline of 76% from the average session volume of 93,521 shares. The stock had previously closed at $36.23.

Analyst Upgrades and Downgrades

Several research firms recently commented on HY. Zacks Research raised Hyster-Yale from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings cut Hyster-Yale from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Northland Securities upgraded Hyster-Yale from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a report on Monday, March 2nd. Finally, Wall Street Zen raised shares of Hyster-Yale from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $45.00.

Hyster-Yale Stock Performance

The company has a market capitalization of $619.40 million, a price-to-earnings ratio of -6.17 and a beta of 1.61. The company has a 50 day moving average price of $36.56 and a 200 day moving average price of $34.83. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.67 and a current ratio of 1.31.

Hyster-Yale (NYSE:HY) last announced its quarterly earnings results on Tuesday, May 5th. The industrial products company reported ($1.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.02) by $0.38. The business had revenue of $795.20 million for the quarter, compared to analyst estimates of $878.10 million. Hyster-Yale had a negative return on equity of 13.96% and a negative net margin of 2.71%. Equities research analysts predict that Hyster-Yale, Inc. will post -2.75 earnings per share for the current fiscal year.

Hyster-Yale Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 1st were issued a dividend of $0.365 per share. The ex-dividend date was Monday, June 1st. This is a positive change from Hyster-Yale’s previous quarterly dividend of $0.36. This represents a $1.46 annualized dividend and a yield of 4.2%. Hyster-Yale’s dividend payout ratio is currently -26.12%.

Institutional Investors Weigh In On Hyster-Yale

Several hedge funds and other institutional investors have recently made changes to their positions in HY. Optiver Holding B.V. bought a new position in Hyster-Yale in the 1st quarter valued at about $33,000. Kestra Advisory Services LLC bought a new stake in Hyster-Yale during the 4th quarter worth approximately $61,000. Aquatic Capital Management LLC increased its holdings in Hyster-Yale by 71.9% during the 3rd quarter. Aquatic Capital Management LLC now owns 3,372 shares of the industrial products company’s stock worth $124,000 after purchasing an additional 1,410 shares in the last quarter. Amundi raised its stake in shares of Hyster-Yale by 10.1% in the first quarter. Amundi now owns 4,844 shares of the industrial products company’s stock worth $201,000 after purchasing an additional 444 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Hyster-Yale in the first quarter worth approximately $204,000. 46.47% of the stock is owned by institutional investors.

About Hyster-Yale

Hyster-Yale Materials Handling, Inc is a global manufacturer and distributor of a wide range of industrial lift trucks, container handlers and aftermarket parts and services. Operating under the Hyster and Yale brand names, the company designs, engineers and assembles counterbalanced lift trucks, narrow-aisle trucks and specialty vehicles for clients in distribution, manufacturing, retail and warehousing.

The company’s product portfolio includes electric, diesel and LPG-powered forklifts, as well as reach stackers, empty container handlers and terminal tractors.