Hyster-Yale (NYSE:HY) Stock Price Down 6.3% – Here’s Why

Shares of Hyster-Yale, Inc. (NYSE:HY) dropped 6.3% during trading on Monday . The stock traded as low as $33.81 and last traded at $33.9540. 22,518 shares were traded during mid-day trading, a decline of 76% from the average session volume of 93,521 shares. The stock had previously closed at $36.23.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Weiss Ratings cut shares of Hyster-Yale from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Zacks Research upgraded shares of Hyster-Yale from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Wall Street Zen raised shares of Hyster-Yale from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Hyster-Yale has an average rating of “Hold” and a consensus target price of $45.00.

Hyster-Yale Stock Up 2.5%

The firm has a market capitalization of $628.44 million, a PE ratio of -6.27 and a beta of 1.61. The company has a fifty day moving average price of $36.45 and a 200-day moving average price of $34.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.67 and a current ratio of 1.31.

Hyster-Yale (NYSE:HY) last posted its earnings results on Tuesday, May 5th. The industrial products company reported ($1.64) EPS for the quarter, beating analysts’ consensus estimates of ($2.02) by $0.38. Hyster-Yale had a negative return on equity of 13.96% and a negative net margin of 2.71%.The firm had revenue of $795.20 million during the quarter, compared to the consensus estimate of $878.10 million. As a group, analysts expect that Hyster-Yale, Inc. will post -2.75 earnings per share for the current year.

Hyster-Yale Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 1st were paid a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Monday, June 1st. This is an increase from Hyster-Yale’s previous quarterly dividend of $0.36. Hyster-Yale’s dividend payout ratio is -26.12%.

Institutional Trading of Hyster-Yale

Several hedge funds have recently made changes to their positions in the business. Optiver Holding B.V. bought a new position in shares of Hyster-Yale in the 1st quarter valued at about $33,000. Kestra Advisory Services LLC purchased a new stake in Hyster-Yale during the fourth quarter valued at approximately $61,000. Aquatic Capital Management LLC raised its position in Hyster-Yale by 71.9% during the third quarter. Aquatic Capital Management LLC now owns 3,372 shares of the industrial products company’s stock valued at $124,000 after purchasing an additional 1,410 shares during the period. Amundi lifted its stake in shares of Hyster-Yale by 10.1% in the 1st quarter. Amundi now owns 4,844 shares of the industrial products company’s stock valued at $201,000 after purchasing an additional 444 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of Hyster-Yale in the 1st quarter valued at approximately $204,000. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

Hyster-Yale Company Profile

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.