Zacks Investment Research upgraded shares of Hyster-Yale Materials Handling (NYSE:HY) from a strong sell rating to a hold rating in a research report released on Tuesday.

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. “

HY has been the subject of several other reports. Sidoti reissued a neutral rating on shares of Hyster-Yale Materials Handling in a research note on Friday, October 13th. ValuEngine raised shares of Hyster-Yale Materials Handling from a hold rating to a buy rating in a research note on Sunday, December 31st. Finally, Seaport Global Securities cut shares of Hyster-Yale Materials Handling from a neutral rating to a sell rating and set a $56.00 target price for the company. in a research note on Monday, November 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $74.00.

Shares of Hyster-Yale Materials Handling (NYSE:HY) opened at $87.74 on Tuesday. Hyster-Yale Materials Handling has a fifty-two week low of $53.50 and a fifty-two week high of $93.90. The company has a quick ratio of 1.02, a current ratio of 1.64 and a debt-to-equity ratio of 0.40. The stock has a market cap of $1,423.14, a P/E ratio of 24.49 and a beta of 1.09.

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a $0.3025 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.21 annualized dividend and a dividend yield of 1.38%. Hyster-Yale Materials Handling’s dividend payout ratio is presently 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 value of $99,423.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 26.34% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP boosted its position in Hyster-Yale Materials Handling by 9.5% during the third quarter. GSA Capital Partners LLP now owns 42,651 shares of the industrial products company’s stock worth $3,260,000 after purchasing an additional 3,707 shares during the period. Argent Capital Management LLC boosted its position in Hyster-Yale Materials Handling by 35.1% during the third quarter. Argent Capital Management LLC now owns 45,350 shares of the industrial products company’s stock worth $3,467,000 after purchasing an additional 11,770 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its position in Hyster-Yale Materials Handling by 1,062.4% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 20,132 shares of the industrial products company’s stock worth $1,538,000 after purchasing an additional 18,400 shares during the period. Royce & Associates LP boosted its position in Hyster-Yale Materials Handling by 3.6% during the third quarter. Royce & Associates LP now owns 295,233 shares of the industrial products company’s stock worth $22,568,000 after purchasing an additional 10,276 shares during the period. Finally, Convergence Investment Partners LLC bought a new position in Hyster-Yale Materials Handling during the third quarter worth $1,416,000. 50.88% of the stock is owned by hedge funds and other institutional investors.

WARNING: “Zacks Investment Research Upgrades Hyster-Yale Materials Handling (HY) to “Hold”” was published by Daily Political and is the property of of Daily Political. If you are reading this piece on another site, it was stolen and republished in violation of United States & international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.dailypolitical.com/2018/01/13/zacks-investment-research-upgrades-hyster-yale-materials-handling-hy-to-hold.html.

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.

Get a free copy of the Zacks research report on Hyster-Yale Materials Handling (HY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Hyster-Yale Materials Handling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hyster-Yale Materials Handling and related companies with MarketBeat.com's FREE daily email newsletter.