Hyster-Yale Materials Handling, Inc. (NYSE:HY – Get Rating) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 222,200 shares, an increase of 6.4% from the February 13th total of 208,800 shares. Based on an average daily volume of 69,700 shares, the short-interest ratio is currently 3.2 days. Currently, 3.8% of the company's stock are short sold.
Analyst Upgrades and Downgrades
HY has been the topic of several research analyst reports. StockNews.com initiated coverage on Hyster-Yale Materials Handling in a research note on Thursday. They set a "strong-buy" rating on the stock. EF Hutton Acquisition Co. I reiterated a "buy" rating and set a $75.00 price target on shares of Hyster-Yale Materials Handling in a research note on Wednesday, March 1st.
Get Hyster-Yale Materials Handling alerts:Hyster-Yale Materials Handling Stock Down 5.3 %
Shares of HY opened at $42.37 on Friday. Hyster-Yale Materials Handling has a 52 week low of $20.99 and a 52 week high of $48.80. The company has a quick ratio of 0.49, a current ratio of 1.09 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $727.07 million, a price-to-earnings ratio of -9.65 and a beta of 1.26. The stock's 50-day moving average price is $35.08 and its 200-day moving average price is $30.30.
Hyster-Yale Materials Handling Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were issued a $0.322 dividend. The ex-dividend date of this dividend was Tuesday, February 28th. This represents a $1.29 dividend on an annualized basis and a yield of 3.04%. Hyster-Yale Materials Handling's payout ratio is -29.38%.
Insider Buying and Selling at Hyster-Yale Materials Handling
In other news, insider Martha S. Kelly sold 1,500 shares of the business's stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $45.72, for a total value of $68,580.00. Following the completion of the transaction, the insider now directly owns 8,500 shares of the company's stock, valued at approximately $388,620. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 18.05% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Hyster-Yale Materials Handling
Large investors have recently bought and sold shares of the business. Gamco Investors INC. ET AL raised its holdings in Hyster-Yale Materials Handling by 5.7% in the 3rd quarter. Gamco Investors INC. ET AL now owns 1,063,080 shares of the industrial products company's stock worth $22,867,000 after purchasing an additional 57,512 shares during the period. Altshuler Shaham Ltd acquired a new position in Hyster-Yale Materials Handling in the 3rd quarter worth about $41,000. Gladius Capital Management LP acquired a new stake in shares of Hyster-Yale Materials Handling in the second quarter worth approximately $43,000. Gabelli Funds LLC raised its stake in Hyster-Yale Materials Handling by 11.9% in the 3rd quarter. Gabelli Funds LLC now owns 44,200 shares of the industrial products company's stock valued at $951,000 after purchasing an additional 4,700 shares during the last quarter. Finally, Hunter Associates Investment Management LLC lifted its holdings in Hyster-Yale Materials Handling by 6.7% in the 3rd quarter. Hunter Associates Investment Management LLC now owns 57,450 shares of the industrial products company's stock valued at $1,233,000 after purchasing an additional 3,600 shares in the last quarter. Institutional investors and hedge funds own 42.57% of the company's stock.
About Hyster-Yale Materials Handling
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Hyster-Yale Materials Handling, Inc engages in the manufacture of lift trucks. The firm provides an array of solutions aimed at meeting the specific materials handling needs of its customers including attachments and hydrogen fuel cell power products, telematics, automation and fleet management services, and a variety of other power options for its lift trucks.
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