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

Hyster-Yale Materials Handling, Inc. (NYSE:HY) announced a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.35 per share by the industrial products company on Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend 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% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Performance

NYSE HY traded down $0.16 on Thursday, reaching $53.00. The stock had a trading volume of 79,170 shares, compared to its average volume of 92,403. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.61 and a current ratio of 1.36. Hyster-Yale Materials Handling has a 12-month low of $46.25 and a 12-month high of $84.44. The business’s 50-day moving average price is $61.98 and its 200 day moving average price is $66.62. The stock has a market cap of $927.50 million, a P/E ratio of 5.95 and a beta of 1.32.

Hyster-Yale Materials Handling (NYSE:HY) last issued 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). Hyster-Yale Materials Handling had a net margin of 3.68% and a return on equity of 34.77%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the firm posted $2.06 EPS. As a group, equities analysts expect that Hyster-Yale Materials Handling will post 8.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HY. Roth Mkm cut their price target on 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. Northland Capmk cut 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, Hyster-Yale Materials Handling presently has an average rating of “Moderate Buy” and a consensus target price of $80.00.

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.