Hyster-Yale Materials Handling, Inc. (NYSE:HY) Sees Large Growth in Short Interest

Hyster-Yale Materials Handling, Inc. (NYSE:HY) saw a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 544,400 shares, an increase of 16.0% from the March 31st total of 469,400 shares. Based on an average daily volume of 99,800 shares, the short-interest ratio is presently 5.5 days. Currently, 6.1% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HY. TheStreet cut shares of Hyster-Yale Materials Handling from a “b-” rating to a “c” rating in a research report on Monday, March 4th. StockNews.com lowered shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 28th.

Insider Activity at Hyster-Yale Materials Handling

In related news, insider Frank F. Taplin sold 5,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $58.65, for a total transaction of $293,250.00. Following the transaction, the insider now owns 378,872 shares of the company’s stock, valued at approximately $22,220,842.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Hyster-Yale Materials Handling news, insider Frank F. Taplin sold 5,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $58.65, for a total transaction of $293,250.00. Following the completion of the sale, the insider now owns 378,872 shares of the company’s stock, valued at approximately $22,220,842.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Frank F. Taplin sold 11,720 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $58.10, for a total transaction of $680,932.00. Following the sale, the insider now directly owns 367,152 shares of the company’s stock, valued at approximately $21,331,531.20. The disclosure for this sale can be found here. 33.93% of the stock is owned by insiders.

Hedge Funds Weigh In On Hyster-Yale Materials Handling

Several hedge funds have recently modified their holdings of the stock. Cornercap Investment Counsel Inc. lifted its holdings in shares of Hyster-Yale Materials Handling by 0.8% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 21,398 shares of the industrial products company’s stock worth $1,331,000 after buying an additional 163 shares in the last quarter. Gladius Capital Management LP bought a new stake in Hyster-Yale Materials Handling in the fourth quarter worth $40,000. Quadrature Capital Ltd increased its position in Hyster-Yale Materials Handling by 4.4% in the fourth quarter. Quadrature Capital Ltd now owns 17,911 shares of the industrial products company’s stock worth $1,114,000 after purchasing an additional 755 shares during the last quarter. New York State Teachers Retirement System bought a new stake in Hyster-Yale Materials Handling in the fourth quarter worth $61,000. Finally, AJOVista LLC bought a new stake in Hyster-Yale Materials Handling in the fourth quarter worth $71,000. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Stock Performance

Shares of NYSE HY opened at $58.40 on Wednesday. The firm has a 50 day moving average of $61.40 and a 200 day moving average of $57.76. The company has a current ratio of 1.22, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 8.06 and a beta of 1.48. Hyster-Yale Materials Handling has a 12-month low of $38.50 and a 12-month high of $72.40.

Hyster-Yale Materials Handling (NYSE:HY) last issued its quarterly earnings results on Tuesday, February 27th. The industrial products company reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.03). Hyster-Yale Materials Handling had a net margin of 3.06% and a return on equity of 40.35%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. On average, research analysts anticipate that Hyster-Yale Materials Handling will post 7.06 earnings per share for the current year.

Hyster-Yale Materials Handling Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Thursday, February 29th. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is presently 17.93%.

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.