Hyster-Yale, Inc. (NYSE:HY) Sees Significant Growth in Short Interest
by Danessa Lincoln · The Markets DailyHyster-Yale, Inc. (NYSE:HY – Get Free Report) was the recipient of a large growth in short interest in February. As of February 27th, there was short interest totaling 458,894 shares, a growth of 19.1% from the February 12th total of 385,260 shares. Approximately 4.0% of the shares of the company are sold short. Based on an average daily volume of 112,195 shares, the short-interest ratio is currently 4.1 days. Based on an average daily volume of 112,195 shares, the short-interest ratio is currently 4.1 days. Approximately 4.0% of the shares of the company are sold short.
Institutional Investors Weigh In On Hyster-Yale
Several large investors have recently made changes to their positions in the business. Gamco Investors INC. ET AL grew its position in shares of Hyster-Yale by 1.7% during the second quarter. Gamco Investors INC. ET AL now owns 860,607 shares of the industrial products company’s stock worth $34,235,000 after buying an additional 14,700 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Hyster-Yale by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 576,509 shares of the industrial products company’s stock valued at $21,250,000 after acquiring an additional 3,935 shares during the last quarter. Valueworks LLC grew its holdings in Hyster-Yale by 33.2% during the 4th quarter. Valueworks LLC now owns 399,344 shares of the industrial products company’s stock worth $11,865,000 after acquiring an additional 99,538 shares in the last quarter. American Century Companies Inc. grew its holdings in Hyster-Yale by 8.1% during the 2nd quarter. American Century Companies Inc. now owns 327,204 shares of the industrial products company’s stock worth $13,016,000 after acquiring an additional 24,389 shares in the last quarter. Finally, State Street Corp increased its position in shares of Hyster-Yale by 12.1% in the 4th quarter. State Street Corp now owns 307,794 shares of the industrial products company’s stock worth $9,145,000 after purchasing an additional 33,281 shares during the last quarter. Institutional investors and hedge funds own 46.47% of the company’s stock.
Analyst Ratings Changes
HY has been the subject of several research reports. Wall Street Zen lowered Hyster-Yale from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Weiss Ratings downgraded Hyster-Yale from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, March 5th. Zacks Research downgraded shares of Hyster-Yale from a “hold” rating to a “strong sell” rating in a report on Friday, March 6th. Finally, Northland Securities raised shares of Hyster-Yale from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $45.00.
Check Out Our Latest Report on HY
Hyster-Yale Stock Up 0.5%
Shares of HY stock traded up $0.16 on Tuesday, reaching $30.85. 67,589 shares of the stock were exchanged, compared to its average volume of 123,464. Hyster-Yale has a twelve month low of $26.41 and a twelve month high of $46.87. The company has a current ratio of 1.34, a quick ratio of 0.71 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $552.18 million, a price-to-earnings ratio of -9.07 and a beta of 1.54. The business’s 50 day moving average price is $35.17 and its 200 day moving average price is $34.24.
Hyster-Yale (NYSE:HY – Get Free Report) last issued its quarterly earnings results on Tuesday, March 3rd. The industrial products company reported ($2.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.86). The firm had revenue of $923.20 million for the quarter, compared to analyst estimates of $916.43 million. Hyster-Yale had a negative return on equity of 6.12% and a negative net margin of 1.59%. As a group, sell-side analysts expect that Hyster-Yale will post 8.85 earnings per share for the current fiscal year.
Hyster-Yale Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Friday, February 27th. Hyster-Yale’s dividend payout ratio (DPR) is -42.35%.
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.