Hyster-Yale Materials Handling, Inc. (NYSE:HY) Short Interest Update

by · The Markets Daily

Hyster-Yale Materials Handling, Inc. (NYSE:HY – Get Free Report) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 682,800 shares, an increase of 6.8% from the September 30th total of 639,500 shares. Approximately 7.3% of the company’s shares are sold short. Based on an average daily volume of 78,000 shares, the days-to-cover ratio is presently 8.8 days.

Hedge Funds Weigh In On Hyster-Yale Materials Handling

A number of hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. acquired a new stake in Hyster-Yale Materials Handling during the 3rd quarter valued at $582,000. Allspring Global Investments Holdings LLC grew its holdings in Hyster-Yale Materials Handling by 27.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,762 shares of the industrial products company’s stock valued at $878,000 after purchasing an additional 2,963 shares in the last quarter. Inspire Investing LLC grew its holdings in Hyster-Yale Materials Handling by 86.8% during the 3rd quarter. Inspire Investing LLC now owns 20,299 shares of the industrial products company’s stock valued at $1,294,000 after purchasing an additional 9,432 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Hyster-Yale Materials Handling during the 3rd quarter valued at $2,309,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Hyster-Yale Materials Handling during the 2nd quarter valued at $1,262,000. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Wall Street Analyst Weigh In

HY has been the subject of several research reports. StockNews.com upgraded shares of Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Roth Mkm restated a “buy” rating and issued a $84.00 price target (down previously from $87.00) on shares of Hyster-Yale Materials Handling in a research note on Thursday, August 8th. Finally, Northland Capmk downgraded shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Hyster-Yale Materials Handling presently has a consensus rating of “Moderate Buy” and an average target price of $87.00.

Get Our Latest Report on Hyster-Yale Materials Handling

Hyster-Yale Materials Handling Price Performance

HY traded down $0.95 on Friday, hitting $62.52. 23,659 shares of the company were exchanged, compared to its average volume of 90,598. Hyster-Yale Materials Handling has a fifty-two week low of $41.35 and a fifty-two week high of $84.44. The business’s fifty day moving average is $62.99 and its 200 day moving average is $66.84. The firm has a market capitalization of $1.09 billion, a P/E ratio of 6.35 and a beta of 1.31. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.63 and a current ratio of 1.31.

Hyster-Yale Materials Handling (NYSE:HY – Get Free Report) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $3.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $1.30. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.08 billion. Hyster-Yale Materials Handling had a net margin of 4.13% and a return on equity of 44.49%. During the same quarter last year, the business earned $2.21 earnings per share. As a group, sell-side analysts anticipate that Hyster-Yale Materials Handling will post 9.69 EPS for the current year.

Hyster-Yale Materials Handling Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday, August 30th. Hyster-Yale Materials Handling’s dividend payout ratio is presently 14.00%.

About Hyster-Yale Materials Handling

(Get Free Report)

Hyster-Yale, 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.

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