Brokerages Set Hyster-Yale Materials Handling, Inc. (HY) Price Target at $70.00

Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) have received an average recommendation of “Hold” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $70.00.

A number of research firms have weighed in on HY. Sidoti reaffirmed a “neutral” rating on shares of Hyster-Yale Materials Handling in a research note on Friday, October 13th. Zacks Investment Research raised shares of Hyster-Yale Materials Handling from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. ValuEngine raised shares of Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Seaport Global Securities lowered shares of Hyster-Yale Materials Handling from a “neutral” rating to a “sell” rating and set a $56.00 price objective on the stock. in a research note on Monday, November 6th.

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In other news, insider Frank F. Taplin sold 1,464 shares of the stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $68.25, for a total value of $99,918.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 26.34% of the company’s stock.

Several hedge funds have recently made changes to their positions in HY. SG Americas Securities LLC purchased a new stake in shares of Hyster-Yale Materials Handling in the first quarter valued at about $110,000. BNP Paribas Arbitrage SA raised its holdings in shares of Hyster-Yale Materials Handling by 519.8% in the second quarter. BNP Paribas Arbitrage SA now owns 1,624 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 1,362 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Hyster-Yale Materials Handling by 17.7% in the second quarter. Victory Capital Management Inc. now owns 2,119 shares of the industrial products company’s stock valued at $149,000 after purchasing an additional 319 shares during the last quarter. Simplex Trading LLC raised its holdings in shares of Hyster-Yale Materials Handling by 123.9% in the third quarter. Simplex Trading LLC now owns 2,243 shares of the industrial products company’s stock valued at $171,000 after purchasing an additional 1,241 shares during the last quarter. Finally, Weik Investment Services Inc. purchased a new stake in shares of Hyster-Yale Materials Handling in the second quarter valued at about $211,000. Institutional investors own 51.85% of the company’s stock.

Hyster-Yale Materials Handling (HY) traded down $0.93 during trading on Friday, hitting $80.09. 39,400 shares of the company’s stock were exchanged, compared to its average volume of 59,714. Hyster-Yale Materials Handling has a 12-month low of $53.50 and a 12-month high of $93.90. The company has a market capitalization of $1,321.90, a price-to-earnings ratio of 22.75 and a beta of 1.06. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.64 and a quick ratio of 1.02.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.3025 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.21 annualized dividend and a dividend yield of 1.51%. Hyster-Yale Materials Handling’s dividend payout ratio is currently 31.59%.

Hyster-Yale Materials Handling Company Profile

Hyster-Yale Materials Handling, Inc is a lift truck manufacturer. The Company designs, engineers, manufactures, sells and services a line of lift trucks, attachments and aftermarket parts marketed globally under the Hyster and Yale brand names, mainly to independent Hyster and Yale retail dealerships.

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