Hyster-Yale Materials Handling, Inc. (NYSE:HY) Raises Dividend to $0.35 Per Share

Hyster-Yale Materials Handling, Inc. (NYSE:HY) declared a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Shareholders of record on Friday, May 31st will be given a dividend of 0.35 per share by the industrial products company on Friday, June 14th. This represents a $1.40 annualized dividend and a yield of 1.79%. The ex-dividend date is Friday, May 31st. This is a positive change from Hyster-Yale Materials Handling’s previous quarterly dividend of $0.33.

Hyster-Yale Materials Handling has raised its dividend by an average of 0.7% annually over the last three years and has increased its dividend annually for the last 1 consecutive years.

Hyster-Yale Materials Handling Stock Performance

NYSE:HY traded up $5.37 during trading hours on Thursday, hitting $78.29. 198,043 shares of the company were exchanged, compared to its average volume of 103,800. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 10.72 and a beta of 1.49. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.22 and a quick ratio of 0.55. The company’s 50 day moving average price is $60.63 and its 200-day moving average price is $58.47. Hyster-Yale Materials Handling has a 52-week low of $38.50 and a 52-week high of $79.12.

Hyster-Yale Materials Handling (NYSE:HY) last issued its quarterly earnings data on Tuesday, February 27th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.03). Hyster-Yale Materials Handling had a net margin of 3.06% and a return on equity of 40.35%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. As a group, research analysts forecast that Hyster-Yale Materials Handling will post 7.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HY. Roth Mkm restated a “buy” rating and set a $87.00 target price (up from $85.00) on shares of Hyster-Yale Materials Handling in a research report on Thursday. StockNews.com lowered shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 28th. Finally, TheStreet downgraded Hyster-Yale Materials Handling from a “b-” rating to a “c” rating in a research note on Monday, March 4th.

Insider Activity at Hyster-Yale Materials Handling

In related news, insider Frank F. Taplin sold 5,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $58.65, for a total value of $293,250.00. Following the completion of the sale, the insider now directly owns 378,872 shares of the company’s stock, valued at $22,220,842.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Frank F. Taplin sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $58.65, for a total value of $293,250.00. Following the completion of the sale, the insider now owns 378,872 shares in the company, valued at $22,220,842.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Frank F. Taplin sold 11,720 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $58.10, for a total transaction of $680,932.00. Following the sale, the insider now owns 367,152 shares in the company, valued at $21,331,531.20. The disclosure for this sale can be found here. 33.93% of the stock is owned by corporate insiders.

Hyster-Yale Materials Handling Company Profile

Hyster-Yale Materials Handling, 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.