Hyster-Yale (NYSE:HY) Shares Gap Down – Here’s Why

Shares of Hyster-Yale, Inc. (NYSE:HY) gapped down before the market opened on Tuesday . The stock had previously closed at $39.66, but opened at $37.41. Hyster-Yale shares last traded at $37.5110, with a volume of 1,720 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on HY shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Hyster-Yale in a research note on Thursday, January 22nd. Roth Mkm set a $40.00 price objective on Hyster-Yale in a research report on Thursday, November 6th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $40.00.

Hyster-Yale Trading Down 0.0%

The company has a current ratio of 1.39, a quick ratio of 0.68 and a debt-to-equity ratio of 0.47. The stock has a market cap of $676.81 million, a price-to-earnings ratio of 272.52 and a beta of 1.56. The company has a fifty day simple moving average of $34.06 and a 200-day simple moving average of $34.56.

Hyster-Yale Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a $0.36 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.44 dividend on an annualized basis and a yield of 3.8%. Hyster-Yale’s payout ratio is 1,028.57%.

Hedge Funds Weigh In On Hyster-Yale

A number of hedge funds have recently added to or reduced their stakes in the company. Amundi raised its holdings in Hyster-Yale by 10.1% during the first quarter. Amundi now owns 4,844 shares of the industrial products company’s stock valued at $201,000 after buying an additional 444 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Hyster-Yale by 110.6% in the first quarter. AQR Capital Management LLC now owns 79,582 shares of the industrial products company’s stock valued at $3,306,000 after acquiring an additional 41,795 shares during the period. Millennium Management LLC grew its stake in shares of Hyster-Yale by 20.5% in the first quarter. Millennium Management LLC now owns 119,560 shares of the industrial products company’s stock worth $4,967,000 after acquiring an additional 20,305 shares during the last quarter. Empowered Funds LLC increased its position in Hyster-Yale by 99.6% during the first quarter. Empowered Funds LLC now owns 48,701 shares of the industrial products company’s stock worth $2,023,000 after acquiring an additional 24,302 shares during the period. Finally, Jane Street Group LLC increased its position in Hyster-Yale by 19.8% during the first quarter. Jane Street Group LLC now owns 35,034 shares of the industrial products company’s stock worth $1,455,000 after acquiring an additional 5,802 shares during the period. Institutional investors and hedge funds own 46.47% of the company’s stock.

About Hyster-Yale

Hyster-Yale Materials Handling, Inc is a global manufacturer and distributor of a wide range of industrial lift trucks, container handlers and aftermarket parts and services. Operating under the Hyster and Yale brand names, the company designs, engineers and assembles counterbalanced lift trucks, narrow-aisle trucks and specialty vehicles for clients in distribution, manufacturing, retail and warehousing.

The company’s product portfolio includes electric, diesel and LPG-powered forklifts, as well as reach stackers, empty container handlers and terminal tractors.