Hyster-Yale (NYSE:HY) Shares Gap Down – Here’s What Happened

Hyster-Yale, Inc. (NYSE:HY)’s share price gapped down prior to trading on Monday . The stock had previously closed at $33.54, but opened at $31.98. Hyster-Yale shares last traded at $32.3470, with a volume of 2,236 shares traded.

Analysts Set New Price Targets

A number of analysts recently issued reports on HY shares. Weiss Ratings lowered Hyster-Yale from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Zacks Research upgraded Hyster-Yale from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Wall Street Zen raised Hyster-Yale from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Hyster-Yale currently has a consensus rating of “Hold” and an average price target of $45.00.

Hyster-Yale Stock Up 1.7%

The company’s 50 day simple moving average is $36.10 and its 200-day simple moving average is $34.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.67 and a current ratio of 1.31. The firm has a market capitalization of $583.28 million, a PE ratio of -5.82 and a beta of 1.61.

Hyster-Yale (NYSE:HY) last released its quarterly earnings results on Tuesday, May 5th. The industrial products company reported ($1.64) EPS for the quarter, beating analysts’ consensus estimates of ($2.02) by $0.38. Hyster-Yale had a negative net margin of 2.71% and a negative return on equity of 13.96%. The firm had revenue of $795.20 million during the quarter, compared to analyst estimates of $878.10 million. On average, analysts forecast that Hyster-Yale, Inc. will post -2.75 EPS for the current fiscal year.

Hyster-Yale Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 1st were paid a $0.365 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.46 dividend on an annualized basis and a yield of 4.5%. This is an increase from Hyster-Yale’s previous quarterly dividend of $0.36. Hyster-Yale’s dividend payout ratio is currently -26.12%.

Institutional Trading of Hyster-Yale

Large investors have recently modified their holdings of the business. Optiver Holding B.V. bought a new position in shares of Hyster-Yale in the first quarter worth approximately $33,000. Kestra Advisory Services LLC bought a new stake in Hyster-Yale during the fourth quarter valued at approximately $61,000. Aquatic Capital Management LLC grew its stake in Hyster-Yale by 71.9% in the 3rd quarter. Aquatic Capital Management LLC now owns 3,372 shares of the industrial products company’s stock worth $124,000 after buying an additional 1,410 shares in the last quarter. Amundi increased its holdings in shares of Hyster-Yale by 10.1% in the 1st quarter. Amundi now owns 4,844 shares of the industrial products company’s stock worth $201,000 after buying an additional 444 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Hyster-Yale in the 1st quarter worth $204,000. Institutional investors own 46.47% of the company’s stock.

About Hyster-Yale

Hyster-Yale Materials Handling, Inc is a global manufacturer and distributor of a wide range of industrial lift trucks, container handlers and aftermarket parts and services. Operating under the Hyster and Yale brand names, the company designs, engineers and assembles counterbalanced lift trucks, narrow-aisle trucks and specialty vehicles for clients in distribution, manufacturing, retail and warehousing.

The company’s product portfolio includes electric, diesel and LPG-powered forklifts, as well as reach stackers, empty container handlers and terminal tractors.