Hyster-Yale Materials Handling (NYSE:HY) Stock Price Passes Below Two Hundred Day Moving Average – Here’s Why

Hyster-Yale Materials Handling, Inc. (NYSE:HY) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $58.87 and traded as low as $51.75. Hyster-Yale Materials Handling shares last traded at $52.56, with a volume of 40,550 shares changing hands.

Wall Street Analyst Weigh In

HY has been the topic of a number of recent analyst reports. StockNews.com lowered Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Roth Mkm cut their price target on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Hyster-Yale Materials Handling Stock Up 0.8 %

The company’s fifty day simple moving average is $52.70 and its 200 day simple moving average is $58.87. 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 $920.31 million, a PE ratio of 5.90 and a beta of 1.26.

Hyster-Yale Materials Handling Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Friday, November 29th. Hyster-Yale Materials Handling’s payout ratio is presently 15.71%.

Hyster-Yale Materials Handling announced that its Board of Directors has authorized a stock buyback program on Monday, November 18th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 5.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Hyster-Yale Materials Handling

Several institutional investors and hedge funds have recently added to or reduced their stakes in HY. Covestor Ltd grew its position in shares of Hyster-Yale Materials Handling by 21,350.0% in the 3rd quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock worth $27,000 after buying an additional 427 shares during the period. Pinpoint Asset Management Ltd bought a new stake in Hyster-Yale Materials Handling during the third quarter worth about $32,000. US Bancorp DE grew its holdings in Hyster-Yale Materials Handling by 29.1% in the fourth quarter. US Bancorp DE now owns 1,726 shares of the industrial products company’s stock worth $88,000 after purchasing an additional 389 shares during the period. Quest Partners LLC grew its holdings in Hyster-Yale Materials Handling by 189.0% in the third quarter. Quest Partners LLC now owns 2,552 shares of the industrial products company’s stock worth $163,000 after purchasing an additional 1,669 shares during the period. Finally, Amundi increased its stake in shares of Hyster-Yale Materials Handling by 111.6% during the fourth quarter. Amundi now owns 4,400 shares of the industrial products company’s stock valued at $221,000 after purchasing an additional 2,321 shares in the last quarter. Hedge funds and other institutional investors own 46.47% of the company’s stock.

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.