Hyster-Yale, Inc. (NYSE:HY) Sees Significant Decline in Short Interest

Hyster-Yale, Inc. (NYSE:HY) saw a significant drop in short interest in December. As of December 31st, there was short interest totaling 375,063 shares, a drop of 19.4% from the December 15th total of 465,312 shares. Based on an average daily trading volume, of 136,812 shares, the days-to-cover ratio is currently 2.7 days. Approximately 3.2% of the shares of the company are sold short. Approximately 3.2% of the shares of the company are sold short. Based on an average daily trading volume, of 136,812 shares, the days-to-cover ratio is currently 2.7 days.

Analyst Ratings Changes

A number of research firms recently commented on HY. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hyster-Yale in a research report on Wednesday, October 8th. Roth Capital set a $40.00 target price on shares of Hyster-Yale in a report on Thursday, November 6th. Finally, Zacks Research upgraded shares of Hyster-Yale from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $40.00.

Hyster-Yale Trading Down 4.2%

Shares of Hyster-Yale stock opened at $32.43 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 1.39 and a debt-to-equity ratio of 0.47. Hyster-Yale has a 12-month low of $26.41 and a 12-month high of $57.89. The company has a market capitalization of $575.00 million, a price-to-earnings ratio of 231.67 and a beta of 1.45. The firm’s 50-day moving average price is $31.16 and its two-hundred day moving average price is $35.46.

Hyster-Yale (NYSE:HY) last issued its quarterly earnings results on Tuesday, November 4th. The industrial products company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). The firm had revenue of $979.10 million for the quarter, compared to the consensus estimate of $955.69 million. Hyster-Yale had a return on equity of 5.93% and a net margin of 0.07%. On average, analysts forecast that Hyster-Yale will post 8.85 earnings per share for the current fiscal year.

Hyster-Yale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 16th. Shareholders of record on Monday, December 1st were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, December 1st. Hyster-Yale’s dividend payout ratio (DPR) is currently 1,028.57%.

Institutional Trading of Hyster-Yale

Several institutional investors and hedge funds have recently modified their holdings of HY. Assenagon Asset Management S.A. bought a new position in Hyster-Yale in the second quarter valued at about $704,000. American Century Companies Inc. boosted its stake in shares of Hyster-Yale by 8.1% in the 2nd quarter. American Century Companies Inc. now owns 327,204 shares of the industrial products company’s stock valued at $13,016,000 after purchasing an additional 24,389 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Hyster-Yale during the 2nd quarter valued at approximately $981,000. AlphaQuest LLC increased its position in Hyster-Yale by 23.3% during the 2nd quarter. AlphaQuest LLC now owns 19,201 shares of the industrial products company’s stock worth $764,000 after purchasing an additional 3,629 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in Hyster-Yale by 1,641.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,319 shares of the industrial products company’s stock valued at $172,000 after purchasing an additional 4,071 shares during the last quarter. 46.47% of the stock is currently owned by institutional investors.

About Hyster-Yale

Hyster-Yale Materials Handling, Inc is a global manufacturer and distributor of a wide range of industrial lift trucks, container handlers and aftermarket parts and services. Operating under the Hyster and Yale brand names, the company designs, engineers and assembles counterbalanced lift trucks, narrow-aisle trucks and specialty vehicles for clients in distribution, manufacturing, retail and warehousing.

The company’s product portfolio includes electric, diesel and LPG-powered forklifts, as well as reach stackers, empty container handlers and terminal tractors.