Hyster-Yale Materials Handling Inc. (HY) Sees Unusually-High Trading Volume Following Insider Buying Activity
Hyster-Yale Materials Handling Inc. (NYSE:HY) saw an uptick in trading volume on Thursday after an insider bought additional shares in the company. 132,803 shares changed hands during trading, an increase of 15% from the previous session’s volume of 115,954 shares.The stock last traded at $58.71 and had previously closed at $58.42.
Specifically, insider Clara L. T. Rankin acquired 8,551 shares of the firm’s stock in a transaction that occurred on Wednesday, September 28th. The stock was bought at an average price of $58.10 per share, with a total value of $496,813.10. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Alfred M. Et Al Rankin acquired 10,164 shares of the firm’s stock in a transaction that occurred on Wednesday, September 28th. The stock was purchased at an average cost of $58.10 per share, with a total value of $590,528.40. The disclosure for this purchase can be found here. Insiders own 25.56% of the company’s stock.
HY has been the subject of several recent research reports. Zacks Investment Research raised Hyster-Yale Materials Handling from a “sell” rating to a “hold” rating in a report on Thursday, June 23rd. Sidoti raised Hyster-Yale Materials Handling from a “neutral” rating to a “buy” rating in a report on Friday, September 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $69.00.
The company has a market capitalization of $985.29 million, a price-to-earnings ratio of 17.44 and a beta of 1.05. The firm’s 50-day moving average price is $52.42 and its 200-day moving average price is $60.22.
Hyster-Yale Materials Handling (NYSE:HY) last posted its earnings results on Monday, August 8th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by $0.34. Hyster-Yale Materials Handling had a net margin of 2.21% and a return on equity of 12.03%. The firm earned $645.60 million during the quarter, compared to the consensus estimate of $632.33 million. During the same period in the prior year, the company posted $1.39 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts expect that Hyster-Yale Materials Handling Inc. will post $3.04 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Tuesday, August 30th. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is currently 34.20%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. AXA increased its position in Hyster-Yale Materials Handling by 17.1% in the first quarter. AXA now owns 25,130 shares of the company’s stock valued at $1,674,000 after buying an additional 3,670 shares during the period. BlackRock Group LTD increased its position in Hyster-Yale Materials Handling by 22.1% in the first quarter. BlackRock Group LTD now owns 12,318 shares of the company’s stock valued at $820,000 after buying an additional 2,230 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its position in Hyster-Yale Materials Handling by 0.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 5,157 shares of the company’s stock valued at $343,000 after buying an additional 25 shares during the period. Emerald Acquisition Ltd. bought a new position in Hyster-Yale Materials Handling during the second quarter valued at approximately $3,072,000. Finally, Spark Investment Management LLC increased its position in Hyster-Yale Materials Handling by 190.2% in the first quarter. Spark Investment Management LLC now owns 11,900 shares of the company’s stock valued at $792,000 after buying an additional 7,800 shares during the period. 70.59% of the stock is currently owned by hedge funds and other institutional investors.
About Hyster-Yale Materials Handling
Hyster-Yale Materials Handling, Inc, and its subsidiaries, design, engineer, manufacture, sell and service lift trucks and aftermarket parts. The Company markets its lift trucks and aftermarket parts under the Hyster and Yale brand names. The Company also operates through Nuvera Fuel Cells, Inc (Nuvera), which is an alternative-power technology company focused on fuel-cell stacks and related systems.
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