Hyster-Yale Materials Handling (NYSE:HY) Lifted to Buy at Sidoti

Hyster-Yale Materials Handling (NYSE:HY) was upgraded by investment analysts at Sidoti from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, June 3rd, MarketBeat.com reports.

Separately, TheStreet cut shares of Hyster-Yale Materials Handling from a “b-” rating to a “c+” rating in a research report on Wednesday, March 20th.

Shares of NYSE HY traded up $0.17 during midday trading on Monday, reaching $54.22. 70,282 shares of the stock were exchanged, compared to its average volume of 64,170. The firm has a 50 day moving average of $49.14. The stock has a market cap of $912.72 million, a PE ratio of 49.59 and a beta of 1.28. The company has a quick ratio of 0.69, a current ratio of 1.38 and a debt-to-equity ratio of 0.37. Hyster-Yale Materials Handling has a twelve month low of $43.26 and a twelve month high of $76.79.

Hyster-Yale Materials Handling (NYSE:HY) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.14. Hyster-Yale Materials Handling had a net margin of 0.72% and a return on equity of 3.09%. The business had revenue of $834.80 million during the quarter, compared to the consensus estimate of $833.70 million. During the same quarter last year, the firm earned $0.90 EPS. The business’s revenue was up 5.9% compared to the same quarter last year.

In other news, Chairman Alfred M. Et Al Rankin purchased 771 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were acquired at an average cost of $64.99 per share, for a total transaction of $50,107.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alison A. Rankin purchased 417 shares of the company’s stock in a transaction dated Friday, March 29th. The shares were purchased at an average price of $62.49 per share, for a total transaction of $26,058.33. Following the completion of the purchase, the insider now owns 563 shares of the company’s stock, valued at $35,181.87. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 29,262 shares of company stock worth $1,654,315. 28.60% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in shares of Hyster-Yale Materials Handling by 2.6% during the third quarter. Bank of New York Mellon Corp now owns 94,736 shares of the industrial products company’s stock valued at $5,829,000 after buying an additional 2,400 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Hyster-Yale Materials Handling by 1.8% during the third quarter. JPMorgan Chase & Co. now owns 59,130 shares of the industrial products company’s stock valued at $3,638,000 after buying an additional 1,025 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Hyster-Yale Materials Handling during the third quarter valued at approximately $843,000. Teachers Advisors LLC grew its stake in shares of Hyster-Yale Materials Handling by 7.9% during the third quarter. Teachers Advisors LLC now owns 28,033 shares of the industrial products company’s stock valued at $1,725,000 after buying an additional 2,051 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Hyster-Yale Materials Handling by 24.2% during the third quarter. Morgan Stanley now owns 41,357 shares of the industrial products company’s stock valued at $2,545,000 after buying an additional 8,055 shares during the last quarter. Institutional investors and hedge funds own 46.47% of the company’s stock.

About Hyster-Yale Materials Handling

Hyster-Yale Materials Handling, Inc, through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks, attachments, and aftermarket parts worldwide. It manufactures components, such as frames, masts, and transmissions; and assembles lift trucks. The company markets its products primarily under the Hyster and Yale brand names to independent Hyster and Yale retail dealerships.

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