Commonwealth Equity Services LLC Purchases New Holdings in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Commonwealth Equity Services LLC acquired a new stake in Hyster-Yale Materials Handling, Inc. (NYSE:HY) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 7,616 shares of the industrial products company’s stock, valued at approximately $531,000.

A number of other hedge funds and other institutional investors have also modified their holdings of HY. EntryPoint Capital LLC acquired a new stake in Hyster-Yale Materials Handling in the 1st quarter worth $27,000. DekaBank Deutsche Girozentrale lifted its position in 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 worth $83,000 after buying an additional 548 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Hyster-Yale Materials Handling in the 1st quarter valued at $190,000. Diversified Trust Co bought a new position in shares of Hyster-Yale Materials Handling in the 2nd quarter valued at about $210,000. Finally, Trexquant Investment LP bought a new stake in shares of Hyster-Yale Materials Handling during the 4th quarter valued at $359,000. Institutional investors own 46.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on HY. Roth Mkm reaffirmed a “buy” rating and set a $84.00 price objective (down previously from $87.00) on shares of Hyster-Yale Materials Handling in a research note on Thursday, August 8th. StockNews.com cut Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Northland Capmk downgraded Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Northland Securities upgraded shares of 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 research report on Wednesday, June 5th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Hyster-Yale Materials Handling Stock Down 1.1 %

Shares of HY opened at $61.75 on Friday. The stock has a fifty day moving average of $65.19 and a 200-day moving average of $66.07. Hyster-Yale Materials Handling, Inc. has a 52 week low of $38.50 and a 52 week high of $84.44. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 7.16 and a beta of 1.31. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.63 and a current ratio of 1.31.

Hyster-Yale Materials Handling (NYSE:HY) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $3.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $1.30. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.08 billion. Hyster-Yale Materials Handling had a net margin of 4.13% and a return on equity of 44.49%. During the same quarter in the previous year, the company earned $2.21 EPS. As a group, sell-side analysts anticipate that Hyster-Yale Materials Handling, Inc. will post 9.69 earnings per share for the current fiscal year.

Hyster-Yale Materials Handling Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.40 annualized dividend and a yield of 2.27%. Hyster-Yale Materials Handling’s payout ratio is currently 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.