PNC Financial Services Group Inc. Grows Holdings in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

PNC Financial Services Group Inc. raised its position in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 9.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 23,289 shares of the industrial products company’s stock after purchasing an additional 1,914 shares during the period. PNC Financial Services Group Inc.’s holdings in Hyster-Yale Materials Handling were worth $1,485,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HY. CWM LLC raised its position in shares of Hyster-Yale Materials Handling by 0.5% during the 2nd quarter. CWM LLC now owns 41,992 shares of the industrial products company’s stock valued at $2,928,000 after purchasing an additional 192 shares during the period. The Manufacturers Life Insurance Company increased its stake in Hyster-Yale Materials Handling by 4.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,442 shares of the industrial products company’s stock worth $310,000 after buying an additional 200 shares in the last quarter. Summit Global Investments raised its holdings in Hyster-Yale Materials Handling by 2.4% during the second quarter. Summit Global Investments now owns 10,334 shares of the industrial products company’s stock valued at $721,000 after acquiring an additional 240 shares during the period. Mcdonald Partners LLC lifted its position in shares of Hyster-Yale Materials Handling by 0.9% in the second quarter. Mcdonald Partners LLC now owns 40,256 shares of the industrial products company’s stock valued at $2,807,000 after acquiring an additional 352 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Hyster-Yale Materials Handling by 0.5% in the second quarter. AQR Capital Management LLC now owns 76,587 shares of the industrial products company’s stock worth $5,340,000 after acquiring an additional 363 shares during the period. 46.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HY has been the topic of a number of research analyst reports. StockNews.com cut Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Roth Mkm lowered their target price on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Northland Capmk cut shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $80.00.

Hyster-Yale Materials Handling Stock Performance

NYSE HY opened at $57.03 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.61. Hyster-Yale Materials Handling, Inc. has a 1-year low of $47.05 and a 1-year high of $84.44. The business has a 50 day simple moving average of $61.36 and a two-hundred day simple moving average of $66.07. The stock has a market capitalization of $998.60 million, a PE ratio of 6.40 and a beta of 1.32.

Hyster-Yale Materials Handling (NYSE:HY) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.97 by ($1.00). The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.06 billion. Hyster-Yale Materials Handling had a return on equity of 34.77% and a net margin of 3.68%. During the same quarter in the prior year, the firm posted $2.06 EPS. On average, research analysts predict that Hyster-Yale Materials Handling, Inc. will post 8.85 EPS for the current fiscal year.

Hyster-Yale Materials Handling Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, November 29th. Hyster-Yale Materials Handling’s payout ratio is 15.71%.

Hyster-Yale Materials Handling announced that its Board of Directors has initiated a share repurchase plan on Monday, November 18th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 5.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

About Hyster-Yale Materials Handling

Hyster-Yale, 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.