Hyster-Yale, Inc. (NYSE:HY) Sees Significant Decrease in Short Interest

Hyster-Yale, Inc. (NYSE:HY) saw a significant decline in short interest in March. As of March 13th, there was short interest totaling 338,611 shares, a decline of 26.2% from the February 26th total of 458,894 shares. Currently, 2.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 138,745 shares, the short-interest ratio is currently 2.4 days.

Hyster-Yale Stock Down 1.3%

Shares of NYSE HY opened at $31.82 on Tuesday. Hyster-Yale has a 52-week low of $26.41 and a 52-week high of $44.55. The firm has a market capitalization of $569.49 million, a price-to-earnings ratio of -9.36 and a beta of 1.54. The stock has a 50 day moving average price of $34.82 and a 200 day moving average price of $33.89. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.71 and a current ratio of 1.34.

Hyster-Yale (NYSE:HY) last issued its earnings results on Tuesday, March 3rd. The industrial products company reported ($2.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.86). The firm had revenue of $923.20 million for the quarter, compared to the consensus estimate of $916.43 million. Hyster-Yale had a negative net margin of 1.59% and a negative return on equity of 6.12%. Sell-side analysts expect that Hyster-Yale will post 8.85 earnings per share for the current year.

Hyster-Yale Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Friday, February 27th. Hyster-Yale’s dividend payout ratio (DPR) is presently -42.35%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Weiss Ratings cut Hyster-Yale from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, March 5th. Northland Securities raised shares of Hyster-Yale from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Monday, March 2nd. Wall Street Zen lowered shares of Hyster-Yale from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Finally, Zacks Research cut Hyster-Yale from a “hold” rating to a “strong sell” rating in a research note on Friday, March 6th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Hyster-Yale presently has an average rating of “Reduce” and a consensus target price of $45.00.

Institutional Trading of Hyster-Yale

Hedge funds have recently bought and sold shares of the stock. Amundi lifted its stake in shares of Hyster-Yale by 10.1% during the 1st quarter. Amundi now owns 4,844 shares of the industrial products company’s stock worth $201,000 after purchasing an additional 444 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Hyster-Yale by 110.6% in the 1st 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 last quarter. Millennium Management LLC raised its stake in shares of Hyster-Yale by 20.5% during the 1st quarter. Millennium Management LLC now owns 119,560 shares of the industrial products company’s stock worth $4,967,000 after acquiring an additional 20,305 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Hyster-Yale by 99.6% during the 1st quarter. Empowered Funds LLC now owns 48,701 shares of the industrial products company’s stock worth $2,023,000 after acquiring an additional 24,302 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Hyster-Yale by 19.8% during the 1st quarter. Jane Street Group LLC now owns 35,034 shares of the industrial products company’s stock valued at $1,455,000 after purchasing an additional 5,802 shares during the last quarter. Hedge funds and other institutional investors own 46.47% of the company’s stock.

About Hyster-Yale

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.