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

Hyster-Yale Materials Handling, Inc. (NYSE:HY) announced a quarterly dividend on Wednesday, February 12th, RTT News reports. Investors of record on Friday, February 28th will be given a dividend of 0.35 per share by the industrial products company on Friday, March 14th. This represents a $1.40 annualized dividend and a yield of 2.71%. The ex-dividend date is Friday, February 28th.

Hyster-Yale Materials Handling has increased its dividend by an average of 2.3% per year over the last three years. Hyster-Yale Materials Handling has a payout ratio of 23.6% indicating that 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 Trading Up 2.1 %

NYSE:HY opened at $51.67 on Wednesday. The company’s 50 day moving average is $52.04 and its 200-day moving average is $57.24. The company has a quick ratio of 0.61, a current ratio of 1.36 and a debt-to-equity ratio of 0.46. Hyster-Yale Materials Handling has a 12 month low of $48.73 and a 12 month high of $84.44. The firm has a market cap of $904.64 million, a price-to-earnings ratio of 5.80 and a beta of 1.26.

Hyster-Yale Materials Handling declared that its Board of Directors has approved a stock repurchase 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 buy up to 5.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Roth Mkm decreased their price target on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. StockNews.com downgraded Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.