Hyster-Yale Materials Handling (NYSE:HY) Downgraded to “Hold” Rating by StockNews.com

StockNews.com cut shares of Hyster-Yale Materials Handling (NYSE:HY) from a buy rating to a hold rating in a research note published on Friday morning.

Hyster-Yale Materials Handling Stock Down 0.7 %

HY stock opened at $44.55 on Friday. Hyster-Yale Materials Handling has a twelve month low of $42.59 and a twelve month high of $84.44. The company has a quick ratio of 0.61, a current ratio of 1.36 and a debt-to-equity ratio of 0.46. The stock has a market cap of $779.89 million, a P/E ratio of 5.00 and a beta of 1.27. The business’s 50-day moving average price is $51.58 and its 200-day moving average price is $56.55.

Hyster-Yale Materials Handling declared that its board has approved a share buyback program on Monday, November 18th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 5.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Hyster-Yale Materials Handling Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, February 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.14%. Hyster-Yale Materials Handling’s payout ratio is currently 17.37%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HY. First Trust Advisors LP purchased a new position in Hyster-Yale Materials Handling in the 4th quarter worth approximately $3,265,000. JPMorgan Chase & Co. lifted its holdings in Hyster-Yale Materials Handling by 165.5% in the 4th quarter. JPMorgan Chase & Co. now owns 63,231 shares of the industrial products company’s stock worth $3,220,000 after purchasing an additional 39,415 shares in the last quarter. American Century Companies Inc. lifted its holdings in Hyster-Yale Materials Handling by 15.8% in the 4th quarter. American Century Companies Inc. now owns 274,924 shares of the industrial products company’s stock worth $14,002,000 after purchasing an additional 37,432 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Hyster-Yale Materials Handling by 76.3% in the 4th quarter. Renaissance Technologies LLC now owns 80,900 shares of the industrial products company’s stock worth $4,120,000 after purchasing an additional 35,000 shares in the last quarter. Finally, Brightline Capital Management LLC purchased a new position in Hyster-Yale Materials Handling in the 4th quarter worth approximately $1,528,000. 46.47% of the stock is owned by hedge funds and other institutional investors.

About Hyster-Yale Materials Handling

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.