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

Hyster-Yale, Inc. (NYSE:HY)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $39.66, but opened at $37.41. Hyster-Yale shares last traded at $37.5110, with a volume of 1,720 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HY. Roth Mkm set a $40.00 price target on shares of Hyster-Yale in a report on Thursday, November 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Hyster-Yale in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Hold rating, According to MarketBeat, Hyster-Yale currently has a consensus rating of “Hold” and a consensus target price of $40.00.

Hyster-Yale Trading Up 0.3%

The business’s 50 day simple moving average is $33.81 and its two-hundred day simple moving average is $34.52. The stock has a market cap of $669.84 million, a P/E ratio of 270.34 and a beta of 1.56. The company has a quick ratio of 0.68, a current ratio of 1.39 and a debt-to-equity ratio of 0.47.

Hyster-Yale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, February 27th. Hyster-Yale’s dividend payout ratio (DPR) is 1,028.57%.

Hedge Funds Weigh In On Hyster-Yale

Several institutional investors and hedge funds have recently added to or reduced their stakes in HY. Gamco Investors INC. ET AL lifted its holdings in shares of Hyster-Yale by 1.7% during the second quarter. Gamco Investors INC. ET AL now owns 860,607 shares of the industrial products company’s stock worth $34,235,000 after purchasing an additional 14,700 shares during the period. Dimensional Fund Advisors LP raised its position in Hyster-Yale by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 576,509 shares of the industrial products company’s stock worth $21,250,000 after purchasing an additional 3,935 shares during the last quarter. Valueworks LLC raised its position in Hyster-Yale by 33.2% during the 4th quarter. Valueworks LLC now owns 399,344 shares of the industrial products company’s stock worth $11,865,000 after purchasing an additional 99,538 shares during the last quarter. American Century Companies Inc. lifted its holdings in Hyster-Yale by 8.1% during the 2nd quarter. American Century Companies Inc. now owns 327,204 shares of the industrial products company’s stock worth $13,016,000 after buying an additional 24,389 shares during the period. Finally, State Street Corp grew its position in shares of Hyster-Yale by 12.1% in the 4th quarter. State Street Corp now owns 307,794 shares of the industrial products company’s stock valued at $9,145,000 after buying an additional 33,281 shares during the last quarter. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Hyster-Yale Company Profile

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.