Hyster-Yale Materials Handling (NYSE:HY) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Hyster-Yale Materials Handling (NYSE:HY) from a buy rating to a hold rating in a report released on Friday morning.

Hyster-Yale Materials Handling Stock Down 0.7 %

Shares of Hyster-Yale Materials Handling stock opened at $44.55 on Friday. The firm’s 50 day moving average price is $51.58 and its 200-day moving average price is $56.50. 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 52-week low of $42.59 and a 52-week high of $84.44. The company has a market cap of $779.89 million, a P/E ratio of 5.00 and a beta of 1.27.

Hyster-Yale Materials Handling Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Friday, February 28th. Hyster-Yale Materials Handling’s payout ratio is currently 17.37%.

Hyster-Yale Materials Handling declared that its Board of Directors has initiated a share 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 reacquire up to 5.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Hyster-Yale Materials Handling

A number of institutional investors have recently bought and sold shares of HY. Covestor Ltd boosted its stake in 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 purchasing an additional 427 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Hyster-Yale Materials Handling in the 4th quarter worth approximately $27,000. Pinpoint Asset Management Ltd acquired a new stake in Hyster-Yale Materials Handling in the 3rd quarter worth approximately $32,000. Meeder Asset Management Inc. boosted its stake in 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 worth $38,000 after purchasing an additional 599 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Hyster-Yale Materials Handling in the 4th quarter worth approximately $76,000. 46.47% of the stock is currently owned by institutional investors and hedge funds.

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.