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

Hyster-Yale Materials Handling, Inc. (NYSE:HY) declared a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Investors of record on Friday, November 29th will be paid a dividend of 0.35 per share by the industrial products company on Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Friday, November 29th.

Hyster-Yale Materials Handling has raised its dividend payment by an average of 0.7% annually over the last three years and has raised its dividend every year for the last 13 years. Hyster-Yale Materials Handling has a dividend payout ratio of 26.0% meaning its dividend is sufficiently covered by earnings. Equities 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

Shares of HY stock opened at $53.00 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.61 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average price of $61.98 and a 200 day moving average price of $66.62. The company has a market cap of $927.50 million, a P/E ratio of 5.95 and a beta of 1.32. Hyster-Yale Materials Handling has a 12 month low of $46.25 and a 12 month high of $84.44.

Hyster-Yale Materials Handling (NYSE:HY) last issued its earnings results on Tuesday, November 5th. The industrial products company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.97 by ($1.00). The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.06 billion. Hyster-Yale Materials Handling had a return on equity of 34.77% and a net margin of 3.68%. During the same quarter in the previous year, the firm posted $2.06 EPS. Sell-side analysts predict that Hyster-Yale Materials Handling will post 8.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HY has been the subject of a number of research reports. Roth Mkm reduced their price target on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Northland Capmk cut shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, StockNews.com cut shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Two equities research 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.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.