Hyster-Yale Materials Handling Inc. (HY) Chairman Acquires $587,104.56 in Stock
Hyster-Yale Materials Handling Inc. (NYSE:HY) Chairman Alfred M. Et Al Rankin bought 9,576 shares of the stock in a transaction on Wednesday, October 5th. The stock was bought at an average price of $61.31 per share, for a total transaction of $587,104.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Hyster-Yale Materials Handling Inc. (NYSE:HY) traded down 2.07% during mid-day trading on Friday, hitting $58.56. The company had a trading volume of 134,510 shares. Hyster-Yale Materials Handling Inc. has a 52-week low of $44.41 and a 52-week high of $70.19. The firm has a market cap of $959.56 million, a P/E ratio of 16.98 and a beta of 1.01. The stock’s 50 day moving average price is $53.25 and its 200 day moving average price is $60.09.
Hyster-Yale Materials Handling (NYSE:HY) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by $0.34. The business earned $645.60 million during the quarter, compared to analysts’ expectations of $632.33 million. Hyster-Yale Materials Handling had a net margin of 2.21% and a return on equity of 12.03%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.39 EPS. On average, equities research analysts predict that Hyster-Yale Materials Handling Inc. will post $3.04 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Tuesday, August 30th. Hyster-Yale Materials Handling’s dividend payout ratio is currently 34.20%.
A number of hedge funds and other institutional investors have recently modified their holdings of HY. Bank of Montreal Can acquired a new position in shares of Hyster-Yale Materials Handling during the second quarter worth approximately $133,000. Acadian Asset Management LLC increased its position in Hyster-Yale Materials Handling by 77.4% in the second quarter. Acadian Asset Management LLC now owns 3,002 shares of the company’s stock worth $179,000 after buying an additional 1,310 shares in the last quarter. BlackRock Inc. increased its position in Hyster-Yale Materials Handling by 242.2% in the second quarter. BlackRock Inc. now owns 3,114 shares of the company’s stock worth $184,000 after buying an additional 2,204 shares in the last quarter. Royal Bank of Canada increased its position in Hyster-Yale Materials Handling by 1,624.0% in the second quarter. Royal Bank of Canada now owns 3,517 shares of the company’s stock worth $209,000 after buying an additional 3,313 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new position in Hyster-Yale Materials Handling during the second quarter worth approximately $301,000. 70.59% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have weighed in on HY shares. Zacks Investment Research downgraded Hyster-Yale Materials Handling from a “hold” rating to a “sell” rating in a research note on Wednesday, August 10th. Sidoti upgraded Hyster-Yale Materials Handling from a “neutral” rating to a “buy” rating in a research note on Friday, September 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $69.00.
About Hyster-Yale Materials Handling
Hyster-Yale Materials Handling, Inc, and its subsidiaries, design, engineer, manufacture, sell and service lift trucks and aftermarket parts. The Company markets its lift trucks and aftermarket parts under the Hyster and Yale brand names. The Company also operates through Nuvera Fuel Cells, Inc (Nuvera), which is an alternative-power technology company focused on fuel-cell stacks and related systems.
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