Hyster-Yale Materials Handling (NYSE:HY) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Hyster-Yale Materials Handling, Inc. (NYSE:HY) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $58.87 and traded as low as $51.75. Hyster-Yale Materials Handling shares last traded at $52.56, with a volume of 40,550 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com lowered shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Roth Mkm reduced their target price on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.00.

Hyster-Yale Materials Handling Price Performance

The firm has a market capitalization of $920.31 million, a PE ratio of 5.90 and a beta of 1.26. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.61. The business’s 50 day moving average is $52.70 and its two-hundred day moving average is $58.87.

Hyster-Yale Materials Handling Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.35 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.40 annualized dividend and a yield of 2.66%. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is presently 15.71%.

Hyster-Yale Materials Handling declared that its board has approved a share buyback plan on Monday, November 18th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 5.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Hyster-Yale Materials Handling

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Covestor Ltd raised its position in Hyster-Yale Materials Handling by 21,350.0% in the 3rd quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 427 shares during the period. Pinpoint Asset Management Ltd bought a new position in shares of Hyster-Yale Materials Handling during the third quarter valued at about $32,000. US Bancorp DE increased its holdings in shares of Hyster-Yale Materials Handling by 29.1% in the fourth quarter. US Bancorp DE now owns 1,726 shares of the industrial products company’s stock worth $88,000 after buying an additional 389 shares during the period. Quest Partners LLC lifted its stake in shares of Hyster-Yale Materials Handling by 189.0% in the 3rd quarter. Quest Partners LLC now owns 2,552 shares of the industrial products company’s stock valued at $163,000 after acquiring an additional 1,669 shares during the last quarter. Finally, Amundi boosted its holdings in Hyster-Yale Materials Handling by 111.6% during the 4th quarter. Amundi now owns 4,400 shares of the industrial products company’s stock valued at $221,000 after acquiring an additional 2,321 shares during the period. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

Hyster-Yale Materials Handling Company Profile

Hyster-Yale, 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.