Hyster-Yale Materials Handling, Inc. (NYSE:HY) Announces Quarterly Dividend of $0.30
Hyster-Yale Materials Handling, Inc. (NYSE:HY) announced a quarterly dividend on Thursday, August 10th, Wall Street Journal reports. Investors of record on Friday, September 1st will be given a dividend of 0.3025 per share by the industrial products company on Friday, September 15th. This represents a $1.21 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Wednesday, August 30th.
Hyster-Yale Materials Handling has increased its dividend payment by an average of 5.4% annually over the last three years and has raised its dividend every year for the last 4 years. Hyster-Yale Materials Handling has a payout ratio of 31.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Hyster-Yale Materials Handling to earn $5.21 per share next year, which means the company should continue to be able to cover its $1.21 annual dividend with an expected future payout ratio of 23.2%.
Hyster-Yale Materials Handling (HY) traded down 2.87% during mid-day trading on Thursday, reaching $65.75. The company’s stock had a trading volume of 86,372 shares. The stock has a 50-day moving average price of $70.27 and a 200-day moving average price of $65.63. Hyster-Yale Materials Handling has a one year low of $47.25 and a one year high of $76.48. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 18.37 and a beta of 1.05.
In other news, insider Susan Sichel sold 1,250 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $64.46, for a total transaction of $80,575.00. Following the sale, the insider now owns 16,850 shares of the company’s stock, valued at $1,086,151. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Frank F. Taplin sold 1,400 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $73.93, for a total value of $103,502.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,778 shares of company stock worth $418,083. Corporate insiders own 26.34% of the company’s stock.
A number of equities analysts have weighed in on the company. Zacks Investment Research lowered Hyster-Yale Materials Handling from a “hold” rating to a “sell” rating in a research note on Tuesday. Sidoti upgraded Hyster-Yale Materials Handling from a “neutral” rating to a “buy” rating in a research note on Tuesday. BidaskClub lowered Hyster-Yale Materials Handling from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. TheStreet upgraded Hyster-Yale Materials Handling from a “c+” rating to a “b-” rating in a report on Friday, May 12th. Finally, Seaport Global Securities upgraded Hyster-Yale Materials Handling from a “sell” rating to a “neutral” rating and set a $56.00 price objective on the stock in a report on Thursday, April 20th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. Hyster-Yale Materials Handling has an average rating of “Hold” and an average target price of $74.75.
About Hyster-Yale Materials Handling
Hyster-Yale Materials Handling, Inc is a lift truck manufacturer. The Company designs, engineers, manufactures, sells and services a line of lift trucks, attachments and aftermarket parts marketed globally under the Hyster and Yale brand names, mainly to independent Hyster and Yale retail dealerships.
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