Hyster-Yale Materials Handling (NYSE:HY) Shares Up 7.3% – Should You Buy?

Hyster-Yale Materials Handling, Inc. (NYSE:HY) rose 7.3% on Monday . The company traded as high as $57.92 and last traded at $57.05. Approximately 15,602 shares changed hands during trading, a decline of 83% from the average daily volume of 92,117 shares. The stock had previously closed at $53.17.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Roth Mkm lowered their target price on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Northland Capmk downgraded Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, StockNews.com cut Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hyster-Yale Materials Handling currently has a consensus rating of “Moderate Buy” and an average price target of $80.00.

Hyster-Yale Materials Handling Stock Performance

The stock has a market cap of $946.66 million, a P/E ratio of 6.07 and a beta of 1.32. The company has a current ratio of 1.36, a quick ratio of 0.61 and a debt-to-equity ratio of 0.46. The company’s 50-day simple moving average is $61.74 and its 200 day simple moving average is $66.58.

Hyster-Yale Materials Handling (NYSE:HY) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.97 by ($1.00). The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Hyster-Yale Materials Handling had a return on equity of 34.77% and a net margin of 3.68%. During the same quarter last year, the business posted $2.06 EPS. As a group, sell-side analysts expect that Hyster-Yale Materials Handling, Inc. will post 8.85 EPS for the current fiscal year.

Hyster-Yale Materials Handling Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.40 dividend on an annualized basis and a yield of 2.59%. Hyster-Yale Materials Handling’s dividend payout ratio is 15.71%.

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

Institutional Investors Weigh In On Hyster-Yale Materials Handling

A number of institutional investors and hedge funds have recently modified their holdings of HY. Price T Rowe Associates Inc. MD grew its position in Hyster-Yale Materials Handling by 296.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,397 shares of the industrial products company’s stock worth $1,566,000 after buying an additional 18,247 shares in the last quarter. Swedbank AB purchased a new stake in shares of Hyster-Yale Materials Handling during the 1st quarter valued at $5,519,000. Sei Investments Co. grew its position in Hyster-Yale Materials Handling by 24.8% in the second quarter. Sei Investments Co. now owns 44,166 shares of the industrial products company’s stock worth $3,080,000 after acquiring an additional 8,764 shares in the last quarter. Inspire Investing LLC raised its position in Hyster-Yale Materials Handling by 86.8% during the third quarter. Inspire Investing LLC now owns 20,299 shares of the industrial products company’s stock valued at $1,294,000 after purchasing an additional 9,432 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Hyster-Yale Materials Handling by 4.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,442 shares of the industrial products company’s stock worth $310,000 after buying an additional 200 shares during the last quarter. 46.47% of the stock is owned by hedge funds and other institutional investors.

About Hyster-Yale Materials Handling

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.