Hyster-Yale Materials Handling (NYSE:HY) Reaches New 12-Month Low – Here’s Why

Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) reached a new 52-week low during trading on Monday . The stock traded as low as $48.33 and last traded at $47.71, with a volume of 23485 shares changing hands. The stock had previously closed at $50.82.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HY. Roth Mkm dropped their price objective on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. StockNews.com raised Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a research report on Thursday. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Hyster-Yale Materials Handling Trading Down 12.9 %

The company has a quick ratio of 0.61, a current ratio of 1.36 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $775.08 million, a PE ratio of 4.97 and a beta of 1.26. The business’s fifty day moving average price is $52.16 and its 200 day moving average price is $57.05.

Hyster-Yale Materials Handling Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.40 annualized dividend and a yield of 3.16%. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is presently 17.37%.

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

Hedge Funds Weigh In On Hyster-Yale Materials Handling

Institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd lifted its holdings in shares of Hyster-Yale Materials Handling by 21,350.0% during the 3rd quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 427 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Hyster-Yale Materials Handling during the fourth quarter worth approximately $27,000. Pinpoint Asset Management Ltd purchased a new position in Hyster-Yale Materials Handling during the third quarter worth approximately $32,000. Meeder Asset Management Inc. boosted its holdings in shares of Hyster-Yale Materials Handling by 421.8% in the 4th quarter. Meeder Asset Management Inc. now owns 741 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 599 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Hyster-Yale Materials Handling during the 4th quarter valued at $76,000. 46.47% of the stock is currently owned by institutional investors and hedge funds.

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.