Hyster-Yale Materials Handling, Inc. (NYSE:HY – Get Free Report) announced a quarterly dividend on Wednesday, August 14th, Wall Street Journal reports. Investors of record on Friday, August 30th will be paid a dividend of 0.35 per share by the industrial products company on Friday, September 13th. This represents a $1.40 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Friday, August 30th.
Hyster-Yale Materials Handling has increased its dividend by an average of 0.7% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Hyster-Yale Materials Handling has a dividend payout ratio of 19.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Hyster-Yale Materials Handling to earn $7.37 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 19.0%.
Hyster-Yale Materials Handling Stock Up 3.0 %
Shares of Hyster-Yale Materials Handling stock traded up $1.76 on Thursday, reaching $60.74. The company’s stock had a trading volume of 89,341 shares, compared to its average volume of 100,623. The company has a quick ratio of 0.56, a current ratio of 1.25 and a debt-to-equity ratio of 0.58. Hyster-Yale Materials Handling has a 52 week low of $38.50 and a 52 week high of $84.44. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 7.02 and a beta of 1.35. The firm’s fifty day simple moving average is $70.76 and its two-hundred day simple moving average is $67.37.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on HY shares. Northland Capmk downgraded shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Roth Mkm reissued a “buy” rating and set a $84.00 price objective (down from $87.00) on shares of Hyster-Yale Materials Handling in a research note on Thursday, August 8th. Finally, Northland Securities upgraded shares of Hyster-Yale Materials Handling from a “market perform” rating to an “outperform” rating and set a $90.00 target price on the stock in a research report on Wednesday, June 5th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.00.
Check Out Our Latest Analysis on HY
Hyster-Yale Materials Handling Company Profile
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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