Hyster-Yale Materials Handling, Inc. (HY) To Go Ex-Dividend on February 28th

Hyster-Yale Materials Handling, Inc. (NYSE:HY) declared a quarterly dividend on Wednesday, February 12th, RTT News reports. Shareholders of record on Friday, February 28th will be given a dividend of 0.35 per share by the industrial products company on Friday, March 14th. This represents a $1.40 annualized dividend and a yield of 2.71%. The ex-dividend date is Friday, February 28th.

Hyster-Yale Materials Handling has raised its dividend payment by an average of 2.3% annually over the last three years. Hyster-Yale Materials Handling has a payout ratio of 23.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Hyster-Yale Materials Handling to earn $5.39 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 26.0%.

Hyster-Yale Materials Handling Stock Performance

HY stock opened at $51.67 on Wednesday. The firm has a 50 day simple moving average of $52.04 and a 200 day simple moving average of $57.24. Hyster-Yale Materials Handling has a 52 week low of $48.73 and a 52 week high of $84.44. The stock has a market cap of $904.64 million, a P/E ratio of 5.80 and a beta of 1.26. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.61 and a current ratio of 1.36.

Hyster-Yale Materials Handling announced that its Board of Directors has initiated a share repurchase plan on Monday, November 18th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the industrial products company to buy up to 5.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have recently weighed in on HY. StockNews.com downgraded shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Roth Mkm dropped their target price on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $80.00.

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.