Hyster-Yale (NYSE:HY) Shares Gap Down – What’s Next?

Hyster-Yale, Inc. (NYSE:HY)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $33.54, but opened at $31.98. Hyster-Yale shares last traded at $32.3470, with a volume of 2,236 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Hyster-Yale from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Weiss Ratings lowered Hyster-Yale from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Finally, Zacks Research upgraded Hyster-Yale from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Hyster-Yale currently has a consensus rating of “Hold” and an average target price of $45.00.

Hyster-Yale Stock Performance

The company has a current ratio of 1.31, a quick ratio of 0.67 and a debt-to-equity ratio of 0.58. The company’s fifty day moving average is $36.10 and its 200 day moving average is $34.82. The company has a market cap of $583.28 million, a P/E ratio of -5.82 and a beta of 1.61.

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

Hyster-Yale Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 1st were issued a $0.365 dividend. This is an increase from Hyster-Yale’s previous quarterly dividend of $0.36. This represents a $1.46 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, June 1st. Hyster-Yale’s dividend payout ratio (DPR) is presently -26.12%.

Institutional Investors Weigh In On Hyster-Yale

Institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Hyster-Yale by 82.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 37,137 shares of the industrial products company’s stock worth $1,117,000 after purchasing an additional 16,740 shares during the period. OP Asset Management Ltd purchased a new stake in shares of Hyster-Yale during the first quarter valued at approximately $1,833,000. Deprince Race & Zollo Inc. bought a new position in shares of Hyster-Yale in the first quarter worth approximately $8,696,000. PNC Financial Services Group Inc. grew its holdings in shares of Hyster-Yale by 4.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 48,223 shares of the industrial products company’s stock worth $1,433,000 after purchasing an additional 1,991 shares during the last quarter. Finally, Gabelli Funds LLC increased its stake in shares of Hyster-Yale by 8.3% in the fourth quarter. Gabelli Funds LLC now owns 56,200 shares of the industrial products company’s stock worth $1,670,000 after buying an additional 4,300 shares during the period. 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.