Hyster-Yale Materials Handling, Inc. (HY) to Issue Quarterly Dividend of $0.36 on June 13th

Hyster-Yale Materials Handling, Inc. (NYSE:HY) declared a quarterly dividend on Tuesday, May 13th, RTT News reports. Stockholders of record on Friday, May 30th will be given a dividend of 0.36 per share by the industrial products company on Friday, June 13th. This represents a $1.44 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Friday, May 30th. This is a 2.9% increase from Hyster-Yale Materials Handling’s previous quarterly dividend of $0.35.

Hyster-Yale Materials Handling has raised its dividend by an average of 2.3% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Hyster-Yale Materials Handling has a dividend payout ratio of 48.3% meaning its dividend is sufficiently covered by earnings. 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 Stock Up 4.9%

Shares of NYSE:HY opened at $41.54 on Wednesday. The firm has a 50 day simple moving average of $40.12 and a 200 day simple moving average of $47.81. Hyster-Yale Materials Handling has a 52 week low of $34.13 and a 52 week high of $84.44. 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 cap of $735.54 million, a PE ratio of 4.66 and a beta of 1.49.

Hyster-Yale Materials Handling (NYSE:HY) last announced its earnings results on Tuesday, May 6th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.02. The company had revenue of $910.40 million for the quarter, compared to the consensus estimate of $947.80 million. Hyster-Yale Materials Handling had a net margin of 3.68% and a return on equity of 34.77%. As a group, research analysts expect that Hyster-Yale Materials Handling will post 8.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC boosted its stake in shares of Hyster-Yale Materials Handling by 19.8% during the 1st quarter. Jane Street Group LLC now owns 35,034 shares of the industrial products company’s stock valued at $1,455,000 after buying an additional 5,802 shares during the period. Empowered Funds LLC raised its holdings in shares of Hyster-Yale Materials Handling by 99.6% during the first quarter. Empowered Funds LLC now owns 48,701 shares of the industrial products company’s stock worth $2,023,000 after acquiring an additional 24,302 shares in the last quarter. Millennium Management LLC boosted its position in Hyster-Yale Materials Handling by 20.5% during the first quarter. Millennium Management LLC now owns 119,560 shares of the industrial products company’s stock valued at $4,967,000 after purchasing an additional 20,305 shares during the last quarter. AQR Capital Management LLC grew its stake in Hyster-Yale Materials Handling by 110.6% in the first quarter. AQR Capital Management LLC now owns 79,582 shares of the industrial products company’s stock valued at $3,306,000 after purchasing an additional 41,795 shares in the last quarter. Finally, Amundi grew its stake in Hyster-Yale Materials Handling by 10.1% in the first quarter. Amundi now owns 4,844 shares of the industrial products company’s stock valued at $201,000 after purchasing an additional 444 shares in the last quarter. 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.