Allspring Global Investments Holdings LLC Sells 3,394 Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Allspring Global Investments Holdings LLC lessened its position in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 23.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,799 shares of the industrial products company’s stock after selling 3,394 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.06% of Hyster-Yale Materials Handling worth $753,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. EntryPoint Capital LLC bought a new position in Hyster-Yale Materials Handling in the first quarter valued at about $27,000. Gladius Capital Management LP bought a new stake in shares of Hyster-Yale Materials Handling during the 4th quarter valued at approximately $40,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Hyster-Yale Materials Handling by 67.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,356 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 548 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Hyster-Yale Materials Handling during the 1st quarter valued at approximately $190,000. Finally, Diversified Trust Co bought a new stake in shares of Hyster-Yale Materials Handling during the 2nd quarter valued at approximately $210,000. Institutional investors and hedge funds own 46.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Northland Capmk lowered shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Northland Securities raised shares of Hyster-Yale Materials Handling from a “market perform” rating to an “outperform” rating and set a $90.00 price target on the stock in a report on Wednesday, June 5th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $84.00 price target (down from $87.00) on shares of Hyster-Yale Materials Handling in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Hyster-Yale Materials Handling Trading Down 0.9 %

HY opened at $59.21 on Friday. Hyster-Yale Materials Handling, Inc. has a fifty-two week low of $38.50 and a fifty-two week high of $84.44. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.31 and a quick ratio of 0.63. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 6.86 and a beta of 1.31. The company’s 50 day moving average price is $67.17 and its two-hundred day moving average price is $66.56.

Hyster-Yale Materials Handling (NYSE:HY) last posted its earnings results on Tuesday, August 6th. The industrial products company reported $3.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $1.30. Hyster-Yale Materials Handling had a net margin of 4.13% and a return on equity of 44.49%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the firm posted $2.21 EPS. As a group, research analysts predict that Hyster-Yale Materials Handling, Inc. will post 8.91 earnings per share for the current year.

Hyster-Yale Materials Handling Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Friday, August 30th. Hyster-Yale Materials Handling’s payout ratio is 16.22%.

Hyster-Yale Materials Handling 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.