Hyster-Yale, Inc. (NYSE:HY – Get Free Report)’s share price traded up 12% during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $39.34 and last traded at $39.34. 107,188 shares were traded during trading, an increase of 15% from the average daily volume of 93,519 shares. The stock had previously closed at $35.13.
The industrial products company reported ($1.64) EPS for the quarter, beating the consensus estimate of ($2.20) by $0.56. The company had revenue of $812.90 million for the quarter, compared to analyst estimates of $804.62 million. Hyster-Yale had a negative return on equity of 13.96% and a negative net margin of 2.71%.
Hyster-Yale Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 1st were given a dividend of $0.365 per share. The ex-dividend date was Monday, June 1st. This is an increase from Hyster-Yale’s previous quarterly dividend of $0.36. This represents a $1.46 annualized dividend and a yield of 3.8%. Hyster-Yale’s dividend payout ratio (DPR) is -26.12%.
Analysts Set New Price Targets
Get Our Latest Stock Analysis on HY
Institutional Trading of Hyster-Yale
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Optiver Holding B.V. acquired a new stake in Hyster-Yale during the first quarter worth approximately $33,000. Kestra Advisory Services LLC purchased a new position in Hyster-Yale in the fourth quarter valued at approximately $61,000. Aquatic Capital Management LLC raised its stake in shares of Hyster-Yale by 71.9% in the 3rd quarter. Aquatic Capital Management LLC now owns 3,372 shares of the industrial products company’s stock valued at $124,000 after acquiring an additional 1,410 shares during the period. Amundi raised its position in Hyster-Yale by 10.1% in the first quarter. Amundi now owns 4,844 shares of the industrial products company’s stock valued at $201,000 after purchasing an additional 444 shares during the period. Finally, State of Wyoming purchased a new stake in shares of Hyster-Yale during the 1st quarter valued at about $204,000. 46.47% of the stock is currently owned by hedge funds and other institutional investors.
Hyster-Yale Price Performance
The company has a market cap of $695.30 million, a PE ratio of -6.94 and a beta of 1.62. The company has a quick ratio of 0.67, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average price is $34.62 and its 200-day moving average price is $35.06.
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.
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