Hyster-Yale Materials Handling (HY) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of Hyster-Yale Materials Handling (NYSE:HY) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.

According to Zacks, “Hyster-Yale Materials Handling, Inc. designs, engineers, manufactures, sells and services a comprehensive line of lift trucks, warehouse trucks, counterbalanced trucks, cargo, container handling trucks and aftermarket parts. The Company’s products are marketed globally under the Hyster(R) and Yale(R) brand names. It conducts its operations primarily in America, Europe and Asia-Pacific. Hyster-Yale Materials Handling, Inc. is based in Portland, Oregon. “

Several other equities research analysts have also weighed in on the stock. ValuEngine upgraded shares of Hyster-Yale Materials Handling from a hold rating to a buy rating in a report on Sunday, December 31st. Seaport Global Securities lowered shares of Hyster-Yale Materials Handling from a neutral rating to a sell rating and set a $56.00 target price on the stock. in a report on Monday, November 6th. Finally, Sidoti restated a neutral rating on shares of Hyster-Yale Materials Handling in a report on Friday, October 13th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $74.00.

Hyster-Yale Materials Handling (HY) traded up $0.76 on Wednesday, reaching $86.32. 46,900 shares of the company’s stock traded hands, compared to its average volume of 37,200. The company has a current ratio of 1.64, a quick ratio of 1.02 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $1,410.00, a price-to-earnings ratio of 22.54 and a beta of 1.09. Hyster-Yale Materials Handling has a 12 month low of $53.50 and a 12 month high of $93.90.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were issued a dividend of $0.3025 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 1.40%. Hyster-Yale Materials Handling’s payout ratio is 31.59%.

In related news, insider Frank F. Taplin sold 1,178 shares of the firm’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $84.40, for a total transaction of $99,423.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 26.34% of the company’s stock.

Several large investors have recently modified their holdings of HY. BNP Paribas Arbitrage SA grew its position in 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 in the last quarter. Victory Capital Management Inc. grew its position in 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 in the last quarter. Simplex Trading LLC grew its position in 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 in the last quarter. Weik Investment Services Inc. bought a new position in Hyster-Yale Materials Handling in the second quarter valued at $211,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in Hyster-Yale Materials Handling in the second quarter valued at $216,000. Institutional investors and hedge funds own 50.88% of the company’s stock.

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About Hyster-Yale Materials Handling

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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