Hyster-Yale Materials Handling Inc. (NYSE:HY)’s share price shot up 4.2% during mid-day trading on Friday after an insider bought additional shares in the company. The stock traded as high as $61.66 and last traded at $61.05, with a volume of 136,617 shares traded. The stock had previously closed at $58.60.
Specifically, insider Victoire G. Rankin bought 5,933 shares of the stock in a transaction dated Friday, September 23rd. The stock was acquired at an average price of $55.06 per share, for a total transaction of $326,670.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Clara L. T. Rankin bought 8,551 shares of the stock in a transaction dated Wednesday, September 28th. The stock was bought at an average price of $58.10 per share, with a total value of $496,813.10. The disclosure for this purchase can be found here. 25.56% of the stock is owned by insiders.
HY has been the subject of a number of analyst reports. Sidoti raised Hyster-Yale Materials Handling from a “neutral” rating to a “buy” rating in a report on Friday, September 23rd. Zacks Investment Research raised Hyster-Yale Materials Handling from a “sell” rating to a “hold” rating in a report on Thursday, June 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Hyster-Yale Materials Handling presently has a consensus rating of “Hold” and an average price target of $69.00.
The company’s 50-day moving average price is $52.25 and its 200 day moving average price is $60.25. The firm has a market capitalization of $996.84 million, a PE ratio of 17.644 and a beta of 1.05.
Hyster-Yale Materials Handling (NYSE:HY) last released its quarterly earnings data on Monday, August 8th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by $0.34. The firm had revenue of $645.60 million for the quarter, compared to analyst estimates of $632.33 million. Hyster-Yale Materials Handling had a net margin of 2.21% and a return on equity of 12.03%. Hyster-Yale Materials Handling’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.39 EPS. On average, analysts forecast that Hyster-Yale Materials Handling Inc. will post $3.04 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.295 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.18 dividend on an annualized basis and a yield of 2.01%. Hyster-Yale Materials Handling’s payout ratio is 34.20%.
Hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new stake in Hyster-Yale Materials Handling during the second quarter worth about $133,000. Acadian Asset Management LLC boosted its stake 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 during the last quarter. BlackRock Inc. boosted its stake 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 during the last quarter. Royal Bank of Canada boosted its stake 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 during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in Hyster-Yale Materials Handling during the second quarter worth about $301,000. 70.59% of the stock is owned by hedge funds and other institutional investors.
Hyster-Yale Materials Handling Company Profile
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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