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

Hyster-Yale Materials Handling, Inc. (NYSE:HY) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Shareholders of record on Friday, February 28th will be given a dividend of 0.35 per share by the industrial products company on Friday, March 14th. This represents a $1.40 annualized dividend and a yield of 2.73%.

Hyster-Yale Materials Handling has raised its dividend payment by an average of 2.3% annually over the last three years. Hyster-Yale Materials Handling has a dividend payout ratio of 23.6% meaning its dividend is sufficiently covered by earnings. Equities research 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 Down 2.6 %

Shares of NYSE HY opened at $51.37 on Thursday. The firm’s 50-day moving average is $52.54 and its two-hundred day moving average is $58.52. The company has a market capitalization of $899.49 million, a PE ratio of 5.77 and a beta of 1.26. Hyster-Yale Materials Handling has a 12-month low of $48.73 and a 12-month high of $84.44. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.61.

Hyster-Yale Materials Handling announced that its board has initiated a share repurchase plan on Monday, November 18th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire up to 5.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Roth Mkm dropped their price target on 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. StockNews.com lowered Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.00.

About Hyster-Yale Materials Handling

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.