Hyster-Yale Materials Handling Inc (NYSE:HY) announced a quarterly dividend on Thursday, May 10th, Wall Street Journal reports. Stockholders of record on Friday, June 1st will be given a dividend of 0.31 per share by the industrial products company on Friday, June 15th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Thursday, May 31st. This is a positive change from Hyster-Yale Materials Handling’s previous quarterly dividend of $0.30.
Hyster-Yale Materials Handling has increased its dividend payment by an average of 3.8% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Hyster-Yale Materials Handling has a payout ratio of 29.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Hyster-Yale Materials Handling to earn $5.99 per share next year, which means the company should continue to be able to cover its $1.21 annual dividend with an expected future payout ratio of 20.2%.
HY stock opened at $67.90 on Friday. The stock has a market cap of $1.13 billion, a PE ratio of 19.20 and a beta of 1.14. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.68 and a quick ratio of 1.07. Hyster-Yale Materials Handling has a 52 week low of $62.62 and a 52 week high of $93.90.
Hyster-Yale Materials Handling (NYSE:HY) last released its earnings results on Tuesday, February 27th. The industrial products company reported $0.97 EPS for the quarter, hitting analysts’ consensus estimates of $0.97. The business had revenue of $795.50 million during the quarter, compared to analysts’ expectations of $755.30 million. Hyster-Yale Materials Handling had a net margin of 1.53% and a return on equity of 10.39%. equities analysts anticipate that Hyster-Yale Materials Handling will post 4.07 EPS for the current fiscal year.
In related news, insider Theodore D. Taplin sold 1,000 shares of the company’s stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $67.45, for a total transaction of $67,450.00. Following the completion of the sale, the insider now owns 47,072 shares of the company’s stock, valued at approximately $3,175,006.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Theodore D. Taplin sold 854 shares of the business’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $69.65, for a total transaction of $59,481.10. Following the completion of the transaction, the insider now owns 47,472 shares in the company, valued at $3,306,424.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,854 shares of company stock valued at $195,131. 26.34% of the stock is owned by corporate insiders.
HY has been the subject of a number of research reports. ValuEngine raised shares of Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Robert W. Baird cut shares of Hyster-Yale Materials Handling from an “outperform” rating to a “neutral” rating and set a $76.00 target price for the company. in a research note on Friday, March 2nd. Zacks Investment Research cut shares of Hyster-Yale Materials Handling from a “hold” rating to a “sell” rating in a research note on Wednesday, March 7th. Finally, TheStreet cut shares of Hyster-Yale Materials Handling from a “b” rating to a “c+” rating in a research note on Friday, March 9th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Hyster-Yale Materials Handling presently has a consensus rating of “Hold” and an average target price of $71.33.
Hyster-Yale Materials Handling Company Profile
Hyster-Yale Materials Handling, Inc, through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks and aftermarket parts worldwide. The company operates through five segments: the Americas, EMEA, JAPIC, Bolzoni, and Nuvera. It manufactures components, such as frames, masts, and transmissions; and assembles lift trucks.
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