Hyster-Yale Materials Handling, Inc. (NYSE:HY) Sees Large Increase in Short Interest

Hyster-Yale Materials Handling, Inc. (NYSE:HY) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 544,400 shares, an increase of 16.0% from the March 31st total of 469,400 shares. Based on an average daily volume of 99,800 shares, the short-interest ratio is presently 5.5 days. Currently, 6.1% of the company’s stock are short sold.

Hyster-Yale Materials Handling Trading Up 2.7 %

Hyster-Yale Materials Handling stock traded up $1.58 during mid-day trading on Monday, hitting $60.26. 92,439 shares of the stock were exchanged, compared to its average volume of 100,276. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 8.33 and a beta of 1.48. Hyster-Yale Materials Handling has a 12 month low of $38.50 and a 12 month high of $72.40. The company has a quick ratio of 0.55, a current ratio of 1.22 and a debt-to-equity ratio of 0.62. The firm’s fifty day simple moving average is $61.80 and its two-hundred day simple moving average is $57.52.

Hyster-Yale Materials Handling (NYSE:HY) last announced its quarterly earnings data on Tuesday, February 27th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. Analysts forecast that Hyster-Yale Materials Handling will post 7.06 EPS for the current year.

Hyster-Yale Materials Handling Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.325 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.30 annualized dividend and a dividend yield of 2.16%. Hyster-Yale Materials Handling’s dividend payout ratio is 17.93%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Hyster-Yale Materials Handling

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC raised its holdings in shares of Hyster-Yale Materials Handling by 60.6% in the third quarter. FMR LLC now owns 589,093 shares of the industrial products company’s stock valued at $26,262,000 after purchasing an additional 222,340 shares during the last quarter. Hillsdale Investment Management Inc. increased its stake in Hyster-Yale Materials Handling by 92,150.0% in the 4th quarter. Hillsdale Investment Management Inc. now owns 92,250 shares of the industrial products company’s stock valued at $5,737,000 after buying an additional 92,150 shares during the last quarter. Valueworks LLC lifted its position in shares of Hyster-Yale Materials Handling by 74.9% during the 3rd quarter. Valueworks LLC now owns 210,980 shares of the industrial products company’s stock worth $9,405,000 after buying an additional 90,355 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Hyster-Yale Materials Handling by 86.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 124,733 shares of the industrial products company’s stock worth $7,757,000 after buying an additional 57,758 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Hyster-Yale Materials Handling by 38.8% during the fourth quarter. Federated Hermes Inc. now owns 131,538 shares of the industrial products company’s stock valued at $8,180,000 after acquiring an additional 36,758 shares during the last quarter. 46.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HY has been the topic of several research analyst reports. TheStreet cut shares of Hyster-Yale Materials Handling from a “b-” rating to a “c” rating in a report on Monday, March 4th. StockNews.com lowered Hyster-Yale Materials Handling from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 28th.

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.