Short Interest in Hyster-Yale Materials Handling, Inc. (NYSE:HY) Declines By 7.5%

Hyster-Yale Materials Handling, Inc. (NYSE:HY) saw a large decrease in short interest in January. As of January 31st, there was short interest totalling 571,700 shares, a decrease of 7.5% from the January 15th total of 618,000 shares. Currently, 6.5% of the company’s stock are short sold. Based on an average daily volume of 80,400 shares, the short-interest ratio is presently 7.1 days.

Hyster-Yale Materials Handling Stock Performance

HY stock traded up $0.87 during midday trading on Tuesday, reaching $53.69. 45,325 shares of the company were exchanged, compared to its average volume of 64,985. Hyster-Yale Materials Handling has a one year low of $48.73 and a one year high of $84.44. The firm has a market capitalization of $940.02 million, a price-to-earnings ratio of 6.03 and a beta of 1.26. The business has a 50-day moving average price of $52.23 and a two-hundred day moving average price of $57.72. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.61.

Hyster-Yale Materials Handling Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Friday, February 28th. Hyster-Yale Materials Handling’s payout ratio is 15.71%.

Hyster-Yale Materials Handling declared that its board has authorized a stock buyback plan on Monday, November 18th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 5.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on HY shares. StockNews.com cut shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Roth Mkm decreased their price objective on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Institutional Investors Weigh In On Hyster-Yale Materials Handling

Hedge funds have recently bought and sold shares of the stock. Covestor Ltd boosted its position in shares of Hyster-Yale Materials Handling by 21,350.0% in the third quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 427 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Hyster-Yale Materials Handling in the 4th quarter worth about $27,000. Pinpoint Asset Management Ltd bought a new stake in Hyster-Yale Materials Handling in the 3rd quarter valued at about $32,000. Meeder Asset Management Inc. grew its position in shares of Hyster-Yale Materials Handling by 421.8% during 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 bought a new position in shares of Hyster-Yale Materials Handling during the fourth quarter worth approximately $76,000. 46.47% of the stock is currently owned by institutional investors and hedge funds.

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.