Hyster-Yale (NYSE:HY) Shares Gap Up – Time to Buy?

Hyster-Yale, Inc. (NYSE:HY) gapped up before the market opened on Thursday . The stock had previously closed at $34.40, but opened at $38.27. Hyster-Yale shares last traded at $34.21, with a volume of 235,199 shares.

Wall Street Analysts Forecast Growth

HY has been the topic of several recent analyst reports. Zacks Research upgraded Hyster-Yale from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Hyster-Yale in a research report on Wednesday, October 8th. Finally, Roth Capital set a $40.00 target price on shares of Hyster-Yale in a report on Thursday, November 6th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $40.00.

Hyster-Yale Stock Up 0.8%

The stock has a market capitalization of $614.75 million, a price-to-earnings ratio of 249.16 and a beta of 1.46. The company has a quick ratio of 0.68, a current ratio of 1.39 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average price of $33.54 and a 200 day moving average price of $37.48.

Hyster-Yale (NYSE:HY) last issued its quarterly earnings data on Tuesday, November 4th. The industrial products company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). Hyster-Yale had a net margin of 0.07% and a return on equity of 5.93%. The business had revenue of $979.10 million during the quarter, compared to the consensus estimate of $955.69 million. As a group, analysts forecast that Hyster-Yale, Inc. will post 8.85 EPS for the current year.

Hyster-Yale Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Monday, December 1st will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.44 annualized dividend and a dividend yield of 4.2%. Hyster-Yale’s payout ratio is currently 1,028.57%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Prelude Capital Management LLC acquired a new stake in shares of Hyster-Yale in the third quarter valued at about $342,000. Millennium Management LLC boosted its holdings in Hyster-Yale by 113.5% in the third quarter. Millennium Management LLC now owns 220,850 shares of the industrial products company’s stock valued at $8,141,000 after acquiring an additional 117,415 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Hyster-Yale by 20.9% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 102,194 shares of the industrial products company’s stock valued at $3,764,000 after purchasing an additional 17,693 shares during the period. Aquatic Capital Management LLC raised its holdings in Hyster-Yale by 71.9% during the 3rd quarter. Aquatic Capital Management LLC now owns 3,372 shares of the industrial products company’s stock worth $124,000 after purchasing an additional 1,410 shares during the last quarter. Finally, Algert Global LLC lifted its position in shares of Hyster-Yale by 13.2% in the 3rd quarter. Algert Global LLC now owns 37,454 shares of the industrial products company’s stock worth $1,381,000 after purchasing an additional 4,380 shares during the period. 46.47% of the stock is owned by institutional investors and hedge funds.

Hyster-Yale 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.