Hyster-Yale Materials Handling, Inc. (NYSE:HY) Short Interest Down 9.3% in May

Hyster-Yale Materials Handling, Inc. (NYSE:HYGet Free Report) saw a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 552,100 shares, a decline of 9.3% from the May 15th total of 608,400 shares. Currently, 6.2% of the shares of the stock are sold short. Based on an average trading volume of 101,900 shares, the short-interest ratio is currently 5.4 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its holdings in Hyster-Yale Materials Handling by 60.6% during the third quarter. FMR LLC now owns 589,093 shares of the industrial products company’s stock worth $26,262,000 after purchasing an additional 222,340 shares during the last quarter. Valueworks LLC boosted its holdings in Hyster-Yale Materials Handling by 74.9% during the third quarter. Valueworks LLC now owns 210,980 shares of the industrial products company’s stock worth $9,405,000 after purchasing an additional 90,355 shares during the last quarter. Quadrature Capital Ltd boosted its holdings in Hyster-Yale Materials Handling by 78.1% during the third quarter. Quadrature Capital Ltd now owns 17,156 shares of the industrial products company’s stock worth $766,000 after purchasing an additional 7,523 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Hyster-Yale Materials Handling by 1.4% during the third quarter. Vanguard Group Inc. now owns 945,578 shares of the industrial products company’s stock worth $42,154,000 after purchasing an additional 12,747 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Hyster-Yale Materials Handling during the fourth quarter worth $151,000. Institutional investors and hedge funds own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Stock Up 2.5 %

Shares of NYSE HY opened at $74.31 on Wednesday. The stock has a market cap of $1.30 billion, a P/E ratio of 8.61 and a beta of 1.42. The firm has a 50 day moving average price of $68.64 and a 200 day moving average price of $64.67. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.56 and a current ratio of 1.25. Hyster-Yale Materials Handling has a 52-week low of $38.50 and a 52-week high of $79.66.

Hyster-Yale Materials Handling (NYSE:HYGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.79. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Hyster-Yale Materials Handling had a net margin of 3.61% and a return on equity of 42.94%. Analysts expect that Hyster-Yale Materials Handling will post 7.68 EPS for the current year.

Hyster-Yale Materials Handling Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, May 31st. This is a boost from Hyster-Yale Materials Handling’s previous quarterly dividend of $0.33. Hyster-Yale Materials Handling’s dividend payout ratio is 16.22%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on HY shares. StockNews.com downgraded shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 28th. TheStreet cut shares of Hyster-Yale Materials Handling from a “b-” rating to a “c” rating in a research report on Monday, March 4th. Roth Mkm reiterated a “buy” rating and set a $87.00 price target on shares of Hyster-Yale Materials Handling in a research report on Friday, June 7th. Northland Securities upgraded shares of Hyster-Yale Materials Handling from a “market perform” rating to an “outperform” rating and set a $90.00 price target for the company in a research report on Wednesday, June 5th. Finally, Northland Capmk upgraded shares of Hyster-Yale Materials Handling from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 5th. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $88.50.

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Hyster-Yale Materials Handling Company Profile

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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.

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