Hyster-Yale Materials Handling Inc. (HY) Trading 4.2% Higher After Insider Buying Activity
Hyster-Yale Materials Handling Inc. (NYSE:HY)’s share price traded up 4.2% on Friday following insider buying activity. The stock traded as high as $61.66 and last traded at $61.05, with a volume of 136,617 shares trading hands. The stock had previously closed at $58.60.
Specifically, insider Clara L. T. Rankin bought 8,551 shares of the firm’s stock in a transaction that occurred on Wednesday, September 28th. The stock was bought at an average cost of $58.10 per share, for a total transaction of $496,813.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Alfred M. Et Al Rankin bought 10,164 shares of the firm’s stock in a transaction that occurred on Wednesday, September 28th. The shares were acquired at an average price of $58.10 per share, with a total value of $590,528.40. The disclosure for this purchase can be found here. Corporate insiders own 25.56% of the company’s stock.
HY has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Hyster-Yale Materials Handling from a “sell” rating to a “hold” rating in a research report on Thursday, June 23rd. Sidoti upgraded shares of Hyster-Yale Materials Handling from a “neutral” rating to a “buy” rating in a research report on Friday, September 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $69.00.
The firm has a 50-day moving average price of $52.42 and a 200 day moving average price of $60.22. The stock has a market capitalization of $985.29 million, a price-to-earnings ratio of 17.44 and a beta of 1.05.
Hyster-Yale Materials Handling (NYSE:HY) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 analyst estimates of $632.33 million. During the same quarter in the previous year, the business posted $1.39 earnings per share. Hyster-Yale Materials Handling’s revenue for the quarter was down 2.0% compared to the same quarter last year. Analysts expect that Hyster-Yale Materials Handling Inc. will post $3.04 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis 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 34.20%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Hyster-Yale Materials Handling during the fourth quarter worth approximately $8,608,000. 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 worth $343,000 after buying an additional 25 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 worth $820,000 after buying an additional 2,230 shares during the period. 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 worth $792,000 after buying an additional 7,800 shares during the period. Finally, OMERS ADMINISTRATION Corp bought a new position in Hyster-Yale Materials Handling during the first quarter worth approximately $460,000. 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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