Short Interest in Hyster-Yale Materials Handling Inc (NYSE:HY) Expands By 69.8%

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Hyster-Yale Materials Handling Inc (NYSE:HY) was the target of a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 285,100 shares, a growth of 69.8% from the May 30th total of 167,900 shares. Based on an average daily trading volume, of 79,900 shares, the days-to-cover ratio is currently 3.6 days. Currently, 4.9% of the company’s stock are sold short.

Several equities analysts have recently weighed in on HY shares. Sidoti downgraded Universal Electronics from a “buy” rating to a “neutral” rating in a report on Monday, June 3rd. TheStreet upgraded United States Lime & Minerals from a “c+” rating to a “b” rating in a report on Wednesday, March 20th.

In other news, Chairman Alfred M. Et Al Rankin acquired 1,080 shares of the stock in a transaction on Friday, April 26th. The stock was acquired at an average price of $64.99 per share, with a total value of $70,189.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Victoire G. Rankin acquired 6,250 shares of the stock in a transaction on Friday, June 14th. The shares were purchased at an average cost of $49.74 per share, with a total value of $310,875.00. The disclosure for this purchase can be found here. Insiders have acquired 21,867 shares of company stock valued at $1,138,331 in the last three months. Insiders own 28.60% of the company’s stock.

Several large investors have recently modified their holdings of the company. California Public Employees Retirement System increased its holdings in shares of Hyster-Yale Materials Handling by 2.5% during the fourth quarter. California Public Employees Retirement System now owns 6,846 shares of the industrial products company’s stock valued at $424,000 after acquiring an additional 167 shares in the last quarter. Comerica Bank increased its holdings in Hyster-Yale Materials Handling by 9.2% in the 1st quarter. Comerica Bank now owns 3,550 shares of the industrial products company’s stock worth $232,000 after buying an additional 300 shares in the last quarter. Legal & General Group Plc increased its holdings in Hyster-Yale Materials Handling by 8.1% in the 4th quarter. Legal & General Group Plc now owns 4,975 shares of the industrial products company’s stock worth $309,000 after buying an additional 374 shares in the last quarter. Citigroup Inc. increased its holdings in Hyster-Yale Materials Handling by 12.8% in the 4th quarter. Citigroup Inc. now owns 3,482 shares of the industrial products company’s stock worth $216,000 after buying an additional 394 shares in the last quarter. Finally, Stone Ridge Asset Management LLC increased its holdings in Hyster-Yale Materials Handling by 11.8% in the 4th quarter. Stone Ridge Asset Management LLC now owns 5,236 shares of the industrial products company’s stock worth $324,000 after buying an additional 553 shares in the last quarter. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Shares of NYSE:HY traded down $0.07 on Thursday, hitting $53.39. 43,518 shares of the company traded hands, compared to its average volume of 65,032. Hyster-Yale Materials Handling has a 52 week low of $43.26 and a 52 week high of $76.79. The company has a current ratio of 1.38, a quick ratio of 0.69 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average price of $50.31. The company has a market capitalization of $902.87 million, a P/E ratio of 50.66 and a beta of 1.43.

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

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a dividend of $0.3175 per share. The ex-dividend date was Thursday, May 30th. This is an increase from Hyster-Yale Materials Handling’s previous quarterly dividend of $0.31. This represents a $1.27 annualized dividend and a dividend yield of 2.38%.

Hyster-Yale Materials Handling Company Profile

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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