Hyster-Yale Materials Handling (NYSE:HY) Lowered to Buy at StockNews.com

Posted by Defense World Staff on Apr 12th, 2023

Hyster-Yale Materials Handling (NYSE:HY – Get Rating) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.

Other equities research analysts have also recently issued research reports about the company. EF Hutton Acquisition Co. I reiterated a “buy” rating and issued a $75.00 price objective on shares of Hyster-Yale Materials Handling in a research note on Wednesday, March 1st. TheStreet raised shares of Hyster-Yale Materials Handling from a “d” rating to a “c” rating in a research report on Monday, March 20th.

Hyster-Yale Materials Handling Trading Up 1.2 %

NYSE:HY opened at $46.89 on Wednesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.49 and a current ratio of 1.09. Hyster-Yale Materials Handling has a 1 year low of $20.99 and a 1 year high of $50.42. The stock has a market cap of $804.63 million, a P/E ratio of -10.68 and a beta of 1.31. The stock has a 50-day simple moving average of $40.45 and a 200-day simple moving average of $32.52.

Insider Activity at Hyster-Yale Materials Handling

In other news, insider Martha S. Kelly sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $45.72, for a total transaction of $68,580.00. Following the completion of the transaction, the insider now directly owns 8,500 shares of the company’s stock, valued at approximately $388,620. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 18.05% of the stock is owned by corporate insiders.

Institutional Trading of Hyster-Yale Materials Handling

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State of Wyoming bought a new position in Hyster-Yale Materials Handling during the 4th quarter worth approximately $52,000. State of Wisconsin Investment Board boosted its position in Hyster-Yale Materials Handling by 3.4% during the 4th quarter. State of Wisconsin Investment Board now owns 25,146 shares of the industrial products company’s stock worth $636,000 after acquiring an additional 832 shares during the period. Millennium Management LLC grew its stake in shares of Hyster-Yale Materials Handling by 36.9% in the fourth quarter. Millennium Management LLC now owns 60,944 shares of the industrial products company’s stock worth $1,542,000 after purchasing an additional 16,441 shares in the last quarter. Morgan Stanley increased its holdings in shares of Hyster-Yale Materials Handling by 6.2% during the fourth quarter. Morgan Stanley now owns 62,527 shares of the industrial products company’s stock valued at $1,583,000 after purchasing an additional 3,665 shares during the period. Finally, Norges Bank bought a new stake in shares of Hyster-Yale Materials Handling during the fourth quarter valued at about $992,000. Institutional investors and hedge funds own 42.57% of the company’s stock.

Hyster-Yale Materials Handling Company Profile

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Hyster-Yale Materials Handling, Inc engages in the manufacture of lift trucks. The firm provides an array of solutions aimed at meeting the specific materials handling needs of its customers including attachments and hydrogen fuel cell power products, telematics, automation and fleet management services, and a variety of other power options for its lift trucks.