NBC Securities Inc. Reduces Stake in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

NBC Securities Inc. reduced its position in Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 5.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,100 shares of the industrial products company’s stock after selling 400 shares during the period. NBC Securities Inc.’s holdings in Hyster-Yale Materials Handling were worth $455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of HY. FMR LLC boosted its stake in shares of Hyster-Yale Materials Handling by 60.6% in the 3rd quarter. FMR LLC now owns 589,093 shares of the industrial products company’s stock worth $26,262,000 after buying an additional 222,340 shares during the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of Hyster-Yale Materials Handling by 92,150.0% in the 4th quarter. Hillsdale Investment Management Inc. now owns 92,250 shares of the industrial products company’s stock worth $5,737,000 after buying an additional 92,150 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Hyster-Yale Materials Handling by 86.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 124,733 shares of the industrial products company’s stock worth $7,757,000 after buying an additional 57,758 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Hyster-Yale Materials Handling by 38.8% in the 4th quarter. Federated Hermes Inc. now owns 131,538 shares of the industrial products company’s stock worth $8,180,000 after buying an additional 36,758 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC boosted its stake in shares of Hyster-Yale Materials Handling by 277.7% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 27,824 shares of the industrial products company’s stock worth $1,730,000 after buying an additional 20,457 shares during the last quarter. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

Hyster-Yale Materials Handling Price Performance

NYSE:HY opened at $72.17 on Friday. The company has a quick ratio of 0.56, a current ratio of 1.25 and a debt-to-equity ratio of 0.58. The business’s 50-day simple moving average is $69.03 and its two-hundred day simple moving average is $64.79. The stock has a market cap of $1.26 billion, a PE ratio of 8.36 and a beta of 1.42. Hyster-Yale Materials Handling, Inc. has a 52 week low of $38.50 and a 52 week high of $79.66.

Hyster-Yale Materials Handling (NYSE:HY) last posted its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.79. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Hyster-Yale Materials Handling had a return on equity of 42.94% and a net margin of 3.61%. As a group, analysts forecast that Hyster-Yale Materials Handling, Inc. will post 7.68 EPS for the current fiscal year.

Hyster-Yale Materials Handling Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $0.35 per share. The ex-dividend date was Friday, May 31st. This is a boost from Hyster-Yale Materials Handling’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 1.94%. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is currently 16.22%.

Analysts Set New Price Targets

A number of equities analysts recently commented on HY shares. Northland Securities raised Hyster-Yale Materials Handling from a “market perform” rating to an “outperform” rating and set a $90.00 target price on the stock in a report on Wednesday, June 5th. Roth Mkm reaffirmed a “buy” rating and issued a $87.00 target price on shares of Hyster-Yale Materials Handling in a report on Friday, June 7th. StockNews.com cut Hyster-Yale Materials Handling from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 28th. TheStreet cut Hyster-Yale Materials Handling from a “b-” rating to a “c” rating in a report on Monday, March 4th. Finally, Northland Capmk raised Hyster-Yale Materials Handling from a “hold” rating to a “strong-buy” rating in a report on Wednesday, June 5th. Three equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $88.50.

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. 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.