Hyster-Yale (NYSE:HY) Shares Down 12.3% – Should You Sell?

Shares of Hyster-Yale, Inc. (NYSE:HY) were down 12.3% on Wednesday . The company traded as low as $38.60 and last traded at $35.0330. Approximately 5,418 shares traded hands during trading, a decline of 94% from the average daily volume of 91,940 shares. The stock had previously closed at $39.95.

Analyst Ratings Changes

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

Hyster-Yale Trading Up 0.5%

The firm has a market capitalization of $663.28 million, a P/E ratio of -6.63 and a beta of 1.66. The business’s 50-day moving average is $35.20 and its 200 day moving average is $33.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 0.71.

Hyster-Yale (NYSE:HY) last released its quarterly earnings results on Tuesday, May 5th. The industrial products company reported ($1.64) EPS for the quarter, topping analysts’ consensus estimates 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. As a group, analysts anticipate that Hyster-Yale, Inc. will post -2.94 EPS for the current fiscal year.

Hyster-Yale Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Friday, February 27th. Hyster-Yale’s dividend payout ratio is -25.76%.

Institutional Trading of Hyster-Yale

Several large investors have recently modified their holdings of the stock. Amundi grew its holdings in shares of Hyster-Yale by 3.8% during the 4th quarter. Amundi now owns 9,013 shares of the industrial products company’s stock worth $268,000 after purchasing an additional 334 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Hyster-Yale by 0.6% during the 3rd quarter. Federated Hermes Inc. now owns 96,194 shares of the industrial products company’s stock worth $3,546,000 after purchasing an additional 546 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Hyster-Yale by 7.6% during the 2nd quarter. Legal & General Group Plc now owns 9,284 shares of the industrial products company’s stock worth $369,000 after purchasing an additional 654 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Hyster-Yale during the 3rd quarter worth $27,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Hyster-Yale by 2.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 46,232 shares of the industrial products company’s stock worth $1,704,000 after purchasing an additional 948 shares in the last quarter. 46.47% of the stock is owned by institutional investors and hedge funds.

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.