Hyster-Yale (NYSE:HY) Shares Gap Down – Should You Sell?

Hyster-Yale, Inc. (NYSE:HY)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $39.66, but opened at $37.41. Hyster-Yale shares last traded at $37.5110, with a volume of 1,720 shares traded.

Wall Street Analysts Forecast Growth

HY has been the subject of several recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Hyster-Yale in a research report on Thursday, January 22nd. Roth Mkm set a $40.00 price target on shares of Hyster-Yale in a research report on Thursday, November 6th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Hyster-Yale currently has a consensus rating of “Hold” and an average price target of $40.00.

Hyster-Yale Stock Up 0.3%

The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.68 and a current ratio of 1.39. The firm’s 50 day moving average price is $33.81 and its two-hundred day moving average price is $34.52. The company has a market cap of $669.84 million, a P/E ratio of 270.34 and a beta of 1.56.

Hyster-Yale Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, February 27th. Hyster-Yale’s payout ratio is 1,028.57%.

Institutional Trading of Hyster-Yale

Large investors have recently made changes to their positions in the company. Amundi increased its position in Hyster-Yale by 3.8% in the 4th quarter. Amundi now owns 9,013 shares of the industrial products company’s stock valued at $268,000 after buying an additional 334 shares in the last quarter. Federated Hermes Inc. grew its stake in Hyster-Yale by 0.6% in the third quarter. Federated Hermes Inc. now owns 96,194 shares of the industrial products company’s stock valued at $3,546,000 after acquiring an additional 546 shares during the period. Legal & General Group Plc increased its holdings in shares of Hyster-Yale by 7.6% during the second quarter. Legal & General Group Plc now owns 9,284 shares of the industrial products company’s stock valued at $369,000 after acquiring an additional 654 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Hyster-Yale during the third quarter valued at approximately $27,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Hyster-Yale by 2.1% during the third quarter. PNC Financial Services Group Inc. now owns 46,232 shares of the industrial products company’s stock worth $1,704,000 after purchasing an additional 948 shares during the period. 46.47% of the stock is currently owned by institutional investors and hedge funds.

About Hyster-Yale

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.