Hyster-Yale Materials Handling, Inc. (NYSE:HY) Short Interest Down 6.3% in August

Hyster-Yale Materials Handling, Inc. (NYSE:HY) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 646,700 shares, a decline of 6.3% from the August 15th total of 690,100 shares. Currently, 7.2% of the shares of the stock are sold short. Based on an average trading volume of 88,400 shares, the days-to-cover ratio is currently 7.3 days.

Institutional Trading of Hyster-Yale Materials Handling

Several hedge funds and other institutional investors have recently modified their holdings of HY. Algert Global LLC grew its holdings in shares of Hyster-Yale Materials Handling by 311.9% during the second quarter. Algert Global LLC now owns 28,503 shares of the industrial products company’s stock worth $1,988,000 after buying an additional 21,583 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Hyster-Yale Materials Handling during the 2nd quarter worth approximately $358,000. The Manufacturers Life Insurance Company grew its stake in shares of Hyster-Yale Materials Handling by 4.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,442 shares of the industrial products company’s stock worth $310,000 after acquiring an additional 200 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Hyster-Yale Materials Handling by 1.5% in the second quarter. Millennium Management LLC now owns 48,064 shares of the industrial products company’s stock valued at $3,352,000 after purchasing an additional 713 shares during the last quarter. Finally, Dark Forest Capital Management LP lifted its position in shares of Hyster-Yale Materials Handling by 9.4% in the second quarter. Dark Forest Capital Management LP now owns 5,873 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 503 shares in the last quarter. Institutional investors and hedge funds own 46.47% of the company’s stock.

Analysts Set New Price Targets

HY has been the topic of several analyst reports. Northland Securities upgraded Hyster-Yale Materials Handling from a “market perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research note on Wednesday, June 5th. Northland Capmk cut shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. StockNews.com lowered Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $84.00 target price (down previously from $87.00) on shares of Hyster-Yale Materials Handling in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Hyster-Yale Materials Handling currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

Hyster-Yale Materials Handling Stock Down 0.9 %

NYSE:HY opened at $60.31 on Thursday. The company has a quick ratio of 0.63, a current ratio of 1.31 and a debt-to-equity ratio of 0.53. Hyster-Yale Materials Handling has a 12-month low of $38.50 and a 12-month high of $84.44. The stock’s fifty day simple moving average is $65.45 and its 200-day simple moving average is $66.06. The firm has a market capitalization of $1.06 billion, a P/E ratio of 6.99 and a beta of 1.31.

Hyster-Yale Materials Handling (NYSE:HY) last posted its earnings results on Tuesday, August 6th. The industrial products company reported $3.58 earnings per share for the quarter, topping the consensus estimate of $2.28 by $1.30. Hyster-Yale Materials Handling had a net margin of 4.13% and a return on equity of 44.49%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the business posted $2.21 earnings per share. Equities research analysts expect that Hyster-Yale Materials Handling will post 9.69 earnings per share for the current year.

Hyster-Yale Materials Handling Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Friday, August 30th. Hyster-Yale Materials Handling’s payout ratio is presently 16.22%.

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, 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.