Hyster-Yale (NYSE:HY) Shares Break Below 200-Day Moving Average – Here’s Why

Shares of Hyster-Yale, Inc. (NYSE:HY) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $34.61 and traded as low as $31.50. Hyster-Yale shares last traded at $32.4240, with a volume of 185,296 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on HY shares. Wall Street Zen cut Hyster-Yale from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Roth Capital reiterated a “buy” rating and set a $45.00 price objective on shares of Hyster-Yale in a research report on Thursday, August 6th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Hyster-Yale in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $47.50.

Hyster-Yale Stock Performance

The company has a market cap of $582.92 million, a price-to-earnings ratio of -4.96 and a beta of 1.63. The company has a current ratio of 1.28, a quick ratio of 0.65 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average price is $33.77 and its 200 day moving average price is $34.60.

Hyster-Yale (NYSE:HY) last released its earnings results on Tuesday, August 4th. The industrial products company reported ($1.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.20) by $0.56. Hyster-Yale had a negative net margin of 3.33% and a negative return on equity of 21.03%. The business had revenue of $812.90 million for the quarter, compared to analysts’ expectations of $804.62 million. On average, analysts expect that Hyster-Yale, Inc. will post -2.91 EPS for the current fiscal year.

Hyster-Yale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a $0.3650 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Tuesday, September 1st. Hyster-Yale’s dividend payout ratio (DPR) is -22.26%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in Hyster-Yale by 5.1% during the first quarter. Dimensional Fund Advisors LP now owns 587,683 shares of the industrial products company’s stock worth $19,105,000 after acquiring an additional 28,642 shares during the last quarter. OP Asset Management Ltd purchased a new position in shares of Hyster-Yale in the 1st quarter worth about $1,833,000. Cooper Haims Advisors LLC acquired a new position in shares of Hyster-Yale in the 2nd quarter valued at about $898,000. Deprince Race & Zollo Inc. acquired a new position in shares of Hyster-Yale in the 1st quarter valued at about $8,696,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Hyster-Yale during the 2nd quarter worth about $775,000. 46.47% of the stock is owned by hedge funds and other institutional investors.

Hyster-Yale Company Profile

Hyster-Yale Materials Handling, Inc (NYSE: HY) designs, engineers, manufactures, sells and services materials-handling equipment and related solutions. Its principal products include lift trucks, warehouse equipment and replacement parts used to move, store and manage materials in industrial, distribution, manufacturing and logistics operations.

The company markets its lift trucks and materials-handling products primarily under the Hyster and Yale brand names. Its portfolio includes electric, internal-combustion and fuel-cell-powered lift trucks, as well as warehouse equipment and other specialized solutions.