Hyster-Yale Materials Handling Inc (NYSE:HY) declared a quarterly dividend on Wednesday, February 7th, Wall Street Journal reports. Investors of record on Thursday, March 1st will be paid a dividend of 0.3025 per share by the industrial products company on Thursday, March 15th. This represents a $1.21 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Wednesday, February 28th.
Hyster-Yale Materials Handling has increased its dividend by an average of 3.8% per year over the last three years and has raised its dividend every year for the last 5 years. Hyster-Yale Materials Handling has a payout ratio of 29.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Hyster-Yale Materials Handling to earn $4.41 per share next year, which means the company should continue to be able to cover its $1.21 annual dividend with an expected future payout ratio of 27.4%.
Hyster-Yale Materials Handling (NYSE:HY) opened at $81.17 on Friday. The stock has a market cap of $1,332.60, a P/E ratio of 21.19 and a beta of 1.05. Hyster-Yale Materials Handling has a fifty-two week low of $53.50 and a fifty-two week high of $93.90. The company has a quick ratio of 1.02, a current ratio of 1.64 and a debt-to-equity ratio of 0.40.
In related news, insider Frank F. Taplin sold 1,178 shares of Hyster-Yale Materials Handling stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $84.40, for a total value of $99,423.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 26.34% of the company’s stock.
HY has been the subject of several research analyst reports. Seaport Global Securities lowered shares of Hyster-Yale Materials Handling from a “neutral” rating to a “sell” rating and set a $56.00 price objective for the company. in a research note on Monday, November 6th. Zacks Investment Research upgraded shares of Hyster-Yale Materials Handling from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, ValuEngine raised shares of Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $74.00.
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About Hyster-Yale Materials Handling
Hyster-Yale Materials Handling, Inc is a lift truck manufacturer. The Company designs, engineers, manufactures, sells and services a line of lift trucks, attachments and aftermarket parts marketed globally under the Hyster and Yale brand names, mainly to independent Hyster and Yale retail dealerships.
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