Hyster-Yale Materials Handling, Inc. to Issue Quarterly Dividend of $0.35 (NYSE:HY)

Hyster-Yale Materials Handling, Inc. (NYSE:HY) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Stockholders of record on Friday, February 28th will be paid 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 dividend yield of 2.68%. The ex-dividend date is Friday, February 28th.

Hyster-Yale Materials Handling has increased its dividend payment by an average of 2.3% per year over the last three years. Hyster-Yale Materials Handling has a payout ratio of 23.6% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 1.9 %

Shares of Hyster-Yale Materials Handling stock opened at $52.29 on Friday. The company’s fifty day simple moving average is $52.40 and its 200-day simple moving average is $58.47. The stock has a market capitalization of $915.63 million, a PE ratio of 5.87 and a beta of 1.26. Hyster-Yale Materials Handling has a 1-year low of $48.73 and a 1-year high of $84.44. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.61.

Analyst Ratings Changes

HY has been the topic of several analyst reports. Roth Mkm dropped their price target on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. StockNews.com cut shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.00.

Hyster-Yale Materials Handling declared that its Board of Directors has authorized a stock buyback program on Monday, November 18th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 5.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.