Hyster-Yale Materials Handling, Inc. (HY) to Issue Quarterly Dividend of $0.35 on March 14th

Hyster-Yale Materials Handling, Inc. (NYSE:HY) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.35 per share by the industrial products company on Friday, March 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Friday, February 28th.

Hyster-Yale Materials Handling has increased its dividend by an average of 2.3% per year over the last three years. Hyster-Yale Materials Handling has a payout ratio of 23.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Hyster-Yale Materials Handling to earn $5.39 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 26.0%.

Hyster-Yale Materials Handling Price Performance

Shares of NYSE HY opened at $52.29 on Friday. Hyster-Yale Materials Handling has a fifty-two week low of $48.73 and a fifty-two week high of $84.44. The company has a 50 day simple moving average of $52.40 and a two-hundred day simple moving average of $58.47. The company has a market capitalization of $915.63 million, a price-to-earnings ratio of 5.87 and a beta of 1.26. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.61 and a current ratio of 1.36.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HY. StockNews.com downgraded shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Roth Mkm cut their target price on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $80.00.

Hyster-Yale Materials Handling declared that its Board of Directors has authorized a share buyback plan on Monday, November 18th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the industrial products company to buy up to 5.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Hyster-Yale Materials Handling Company Profile

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.