Hyster-Yale Materials Handling (NYSE:HY) Sets New 1-Year Low - What's Next?

Hyster-Yale Materials Handling, Inc. (NYSE:HY) experienced a significant downturn recently as its shares hit a new 52-week low during trading on Friday. The stock reached a low of $42.11 before closing at $42.16, with a trading volume of 18,034 shares. This marked a decline from its previous closing price of $44.46.

Wall Street Analyst Opinions

In light of this dip, analysts have taken notice. Specifically, StockNews.com downgraded Hyster-Yale Materials Handling's rating from "buy" to "hold" in a report released on March 7th.

Stock Performance Overview

The company's shares have recently fallen by 5.7%, and several financial metrics were disclosed. Hyster-Yale holds a debt-to-equity ratio of 0.46, a current ratio of 1.36, and a quick ratio of 0.61. The company's fifty-day moving average stands at $49.92, while the two-hundred day moving average is $55.03. With a market capitalization of $741.72 million, Hyster-Yale boasts a PE ratio of 4.70 and a beta of 1.27.

Recent Dividend Announcement

Earlier this month, Hyster-Yale also announced a quarterly dividend of $0.35 per share, which was paid to shareholders on March 14th. This dividend results in an annualized payout of $1.40, equating to a dividend yield of 3.34%. The ex-dividend date was set for February 28th, and the company's payout ratio currently stands at 17.37%.

Institutional Investor Activity

Recent activities by institutional investors reveal shifting stakes in Hyster-Yale. Scotia Capital Inc. increased its shareholding by 0.7% during the fourth quarter, now owning 31,873 shares valued at $1,623,000, after adding 223 shares. Similarly, Isthmus Partners LLC raised its stake by 0.5% and now holds 47,184 shares worth $2,403,000 after purchasing an additional 238 shares. US Bancorp DE made a significant move by boosting its stake by 29.1%, holding 1,726 shares valued at $88,000 after adding 389 shares. Tower Research Capital LLC also increased its position by 17.4%, now owning 3,018 shares valued at $154,000 after buying 448 additional shares. Furthermore, Pinpoint Asset Management Ltd entered the scene with a new stake valued at $32,000. At present, institutional investors own 46.47% of the company's stock.

Company Profile

Hyster-Yale Materials Handling designs, engineers, manufactures, sells, and services a wide range of lift trucks, attachments, and aftermarket parts across the globe. The company primarily operates under the esteemed Hyster and Yale brand names through independent dealerships.

Investment Considerations

As investors evaluate Hyster-Yale Materials Handling, it is essential to consider analyst insights and investment trends. Notably, MarketBeat has observed that while Hyster-Yale has a Moderate Buy rating from analysts, other stocks may offer better investment opportunities.

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