Hyster-Yale Materials Handling, Inc. (NYSE:HY) Declares $0.35 Quarterly Dividend

Hyster-Yale Materials Handling, Inc. (NYSE:HY) declared a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Investors of record on Friday, November 29th will be given a dividend of 0.35 per share by the industrial products company on Friday, December 13th. This represents a $1.40 annualized dividend and a yield of 2.49%. The ex-dividend date is Friday, November 29th.

Hyster-Yale Materials Handling has raised its dividend payment by an average of 0.7% per year over the last three years and has increased its dividend every year for the last 13 years. Hyster-Yale Materials Handling has a dividend payout ratio of 26.0% meaning its dividend is sufficiently covered by earnings. 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 Stock Down 1.2 %

Shares of NYSE:HY opened at $56.14 on Thursday. The firm has a market capitalization of $982.90 million, a PE ratio of 6.30 and a beta of 1.32. Hyster-Yale Materials Handling has a 1 year low of $47.05 and a 1 year high of $84.44. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.61. The firm’s 50-day moving average is $61.28 and its two-hundred day moving average is $66.00.

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

Hyster-Yale Materials Handling announced that its board has authorized a share repurchase program on Monday, November 18th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 5.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

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

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.