Hyster-Yale (NYSE:HY) Shares Down 4.9% – Here’s What Happened

Hyster-Yale, Inc. (NYSE:HY)’s stock price traded down 4.9% on Thursday. The company traded as low as $30.22 and last traded at $29.9360. 7,627 shares were traded during mid-day trading, a decline of 92% from the average session volume of 98,798 shares. The stock had previously closed at $31.47.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HY shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Hyster-Yale in a research note on Monday, August 3rd. Wall Street Zen downgraded Hyster-Yale from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Roth Capital reiterated a “buy” rating and set a $45.00 target price on shares of Hyster-Yale in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Hyster-Yale currently has a consensus rating of “Hold” and an average target price of $47.50.

Hyster-Yale Stock Down 7.0%

The firm has a market capitalization of $524.88 million, a price-to-earnings ratio of -4.50 and a beta of 1.65. The stock has a 50 day moving average of $33.95 and a 200 day moving average of $34.55. The company has a quick ratio of 0.65, a current ratio of 1.28 and a debt-to-equity ratio of 0.66.

Hyster-Yale (NYSE:HY) last announced its quarterly earnings data on Tuesday, August 4th. The industrial products company reported ($1.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.20) by $0.56. Hyster-Yale had a negative return on equity of 21.03% and a negative net margin of 3.33%.The firm had revenue of $812.90 million for the quarter, compared to analysts’ expectations of $804.62 million. As a group, analysts expect that Hyster-Yale, Inc. will post -2.91 earnings per share for the current fiscal year.

Hyster-Yale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a dividend of $0.3650 per share. This represents a $1.46 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend was Tuesday, September 1st. Hyster-Yale’s dividend payout ratio is currently -22.26%.

Institutional Trading of Hyster-Yale

Institutional investors have recently added to or reduced their stakes in the business. Deprince Race & Zollo Inc. bought a new position in shares of Hyster-Yale in the 1st quarter worth about $8,696,000. OP Asset Management Ltd bought a new position in Hyster-Yale in the first quarter worth about $1,833,000. Impala Asset Management LLC acquired a new position in Hyster-Yale in the fourth quarter valued at approximately $1,486,000. Dimensional Fund Advisors LP boosted its stake in Hyster-Yale by 5.1% in the first quarter. Dimensional Fund Advisors LP now owns 587,683 shares of the industrial products company’s stock valued at $19,105,000 after acquiring an additional 28,642 shares during the period. Finally, Cooper Haims Advisors LLC bought a new position in shares of Hyster-Yale during the second quarter valued at approximately $898,000. Institutional investors own 46.47% of the company’s stock.

About Hyster-Yale

Hyster-Yale, Inc (NYSE: HY) is a global manufacturer of materials-handling equipment. Through its Hyster and Yale brands, the company designs and produces lift trucks, including electric, internal-combustion-engine and warehouse models, for moving and storing materials in industrial, manufacturing, distribution and logistics environments.

The company also provides related replacement parts, service and support through a network of dealers and other distribution channels. Its broader product portfolio includes warehouse equipment and specialized materials-handling solutions.