Hyster-Yale (NYSE:HY) Stock Price Down 7% – Time to Sell?

Hyster-Yale, Inc. (NYSE:HY)’s stock price fell 7% on Tuesday . The stock traded as low as $31.30 and last traded at $31.40. 46,343 shares traded hands during trading, a decline of 51% from the average session volume of 94,267 shares. The stock had previously closed at $33.77.

Analyst Ratings Changes

A number of research analysts have weighed in on HY shares. Wall Street Zen downgraded shares of Hyster-Yale from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Northland Securities upgraded Hyster-Yale from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research note on Monday, March 2nd. Weiss Ratings lowered Hyster-Yale from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Finally, Zacks Research upgraded Hyster-Yale from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $45.00.

Hyster-Yale Trading Down 6.8%

The company’s 50-day moving average price is $34.90 and its 200-day moving average price is $33.91. The firm has a market cap of $563.85 million, a price-to-earnings ratio of -5.63 and a beta of 1.66. The company has a quick ratio of 0.67, a current ratio of 1.31 and a debt-to-equity ratio of 0.58.

Hyster-Yale (NYSE:HY) last announced its earnings results on Tuesday, May 5th. The industrial products company reported ($1.64) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $795.20 million for the quarter, compared to analyst estimates of $878.10 million. Equities analysts expect that Hyster-Yale, Inc. will post -2.75 EPS for the current fiscal year.

Hyster-Yale Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.365 per share. The ex-dividend date of this dividend is Monday, June 1st. This is an increase from Hyster-Yale’s previous quarterly dividend of $0.36. This represents a $1.46 dividend on an annualized basis and a dividend yield of 4.6%. Hyster-Yale’s payout ratio is currently -25.76%.

Hedge Funds Weigh In On Hyster-Yale

Hedge funds have recently made changes to their positions in the company. Deprince Race & Zollo Inc. acquired a new stake in Hyster-Yale during the 1st quarter worth $8,696,000. Millennium Management LLC boosted its stake in Hyster-Yale by 113.5% during the 3rd quarter. Millennium Management LLC now owns 220,850 shares of the industrial products company’s stock worth $8,141,000 after purchasing an additional 117,415 shares during the last quarter. Valueworks LLC boosted its stake 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. OP Asset Management Ltd purchased a new stake in shares of Hyster-Yale in the first quarter valued at about $1,833,000. Finally, Impala Asset Management LLC purchased a new stake in shares of Hyster-Yale in the fourth quarter valued at about $1,486,000. Institutional investors and hedge funds own 46.47% of the company’s stock.

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.