Hyster-Yale Materials Handling, Inc. (NYSE:HY) Plans $0.35 Quarterly Dividend

Hyster-Yale Materials Handling, Inc. (NYSE:HY) announced a quarterly dividend on Wednesday, February 12th,RTT News reports. Stockholders of record on Friday, February 28th will be given a dividend of 0.35 per share by the industrial products company on Friday, March 14th. This represents a $1.40 annualized dividend and a dividend yield of 2.73%.

Hyster-Yale Materials Handling has raised its dividend payment by an average of 2.3% per year over the last three years. Hyster-Yale Materials Handling has a dividend payout ratio of 23.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Hyster-Yale Materials Handling to earn $5.39 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 26.0%.

Hyster-Yale Materials Handling Price Performance

Shares of HY opened at $51.37 on Thursday. Hyster-Yale Materials Handling has a fifty-two week low of $48.73 and a fifty-two week high of $84.44. The firm has a 50-day simple moving average of $52.54 and a 200-day simple moving average of $58.52. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.61 and a current ratio of 1.36. The company has a market capitalization of $899.49 million, a price-to-earnings ratio of 5.77 and a beta of 1.26.

Hyster-Yale Materials Handling announced that its board has approved a stock repurchase plan on Monday, November 18th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the industrial products company to repurchase up to 5.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

HY has been the subject of several research analyst reports. Roth Mkm cut their price objective on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. StockNews.com downgraded shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Hyster-Yale Materials Handling currently has an average rating of “Moderate Buy” and an average price target of $80.00.

Hyster-Yale Materials Handling Company Profile

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.