Hyster-Yale (NYSE:HY) Stock Price Down 5.1% – What’s Next?

Hyster-Yale, Inc. (NYSE:HY)’s stock price was down 5.1% on Friday . The stock traded as low as $33.22 and last traded at $33.2530. Approximately 42,488 shares were traded during trading, a decline of 47% from the average daily volume of 80,904 shares. The stock had previously closed at $35.03.

Wall Street Analysts Forecast Growth

HY has been the topic of several research analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Hyster-Yale in a research note on Wednesday, October 8th. Roth Capital set a $40.00 price target on Hyster-Yale in a research report on Thursday, November 6th. Finally, Zacks Research raised shares of Hyster-Yale from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $40.00.

Hyster-Yale Stock Performance

The stock has a 50-day moving average price of $33.52 and a 200 day moving average price of $37.46. The firm has a market cap of $600.78 million, a PE ratio of 241.77 and a beta of 1.46. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.39 and a quick ratio of 0.68.

Hyster-Yale (NYSE:HY) last posted its quarterly earnings data on Tuesday, November 4th. The industrial products company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). The company had revenue of $979.10 million for the quarter, compared to the consensus estimate of $955.69 million. Hyster-Yale had a net margin of 0.07% and a return on equity of 5.93%. Research analysts forecast that Hyster-Yale, Inc. will post 8.85 earnings per share for the current year.

Hyster-Yale Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Monday, December 1st. Hyster-Yale’s dividend payout ratio (DPR) is currently 1,028.57%.

Hedge Funds Weigh In On Hyster-Yale

Hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC grew its holdings in shares of Hyster-Yale by 113.5% during the third quarter. Millennium Management LLC now owns 220,850 shares of the industrial products company’s stock valued at $8,141,000 after purchasing an additional 117,415 shares during the last quarter. AQR Capital Management LLC increased its position in Hyster-Yale by 110.6% in the first quarter. AQR Capital Management LLC now owns 79,582 shares of the industrial products company’s stock worth $3,306,000 after buying an additional 41,795 shares during the period. Bridgeway Capital Management LLC lifted its stake in Hyster-Yale by 133.7% in the first quarter. Bridgeway Capital Management LLC now owns 68,701 shares of the industrial products company’s stock valued at $2,854,000 after buying an additional 39,302 shares during the last quarter. Truvestments Capital LLC boosted its holdings in shares of Hyster-Yale by 89.4% during the first quarter. Truvestments Capital LLC now owns 77,918 shares of the industrial products company’s stock valued at $3,237,000 after acquiring an additional 36,786 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Hyster-Yale by 252.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 50,220 shares of the industrial products company’s stock worth $1,998,000 after acquiring an additional 35,957 shares during the last quarter. Institutional investors and hedge funds own 46.47% of the company’s stock.

About Hyster-Yale

Hyster-Yale, Inc, through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks, attachments, and aftermarket parts worldwide. The company manufactures components, such as frames, masts, and transmissions; and assembles lift trucks. It markets its products primarily under the Hyster and Yale brand names to independent Hyster and Yale retail dealerships.