Massachusetts Financial Services Co. MA Buys New Shares in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Massachusetts Financial Services Co. MA purchased a new stake in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,617 shares of the industrial products company’s stock, valued at approximately $231,000.

Several other large investors have also recently added to or reduced their stakes in HY. EntryPoint Capital LLC bought a new stake in shares of Hyster-Yale Materials Handling during the first quarter valued at approximately $27,000. Covestor Ltd boosted its position in shares of Hyster-Yale Materials Handling by 21,350.0% during the 3rd quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 427 shares in the last quarter. Quest Partners LLC increased its stake in Hyster-Yale Materials Handling by 6,692.3% in the second quarter. Quest Partners LLC now owns 883 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 870 shares during the period. Itau Unibanco Holding S.A. acquired a new position in Hyster-Yale Materials Handling in the second quarter worth about $67,000. Finally, DekaBank Deutsche Girozentrale lifted its stake in Hyster-Yale Materials Handling by 67.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,356 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 548 shares during the period. Institutional investors and hedge funds own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Stock Down 1.2 %

Shares of HY opened at $56.14 on Thursday. The business’s 50 day simple moving average is $61.28 and its 200-day simple moving average is $66.00. Hyster-Yale Materials Handling, Inc. has a one year low of $47.05 and a one year high of $84.44. The company has a market capitalization of $983.01 million, a P/E ratio of 6.30 and a beta of 1.32. 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 (NYSE:HY) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.97 by ($1.00). Hyster-Yale Materials Handling had a return on equity of 34.77% and a net margin of 3.68%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the firm posted $2.06 EPS. As a group, sell-side analysts predict that Hyster-Yale Materials Handling, Inc. will post 8.85 EPS for the current fiscal year.

Hyster-Yale Materials Handling Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Friday, November 29th. Hyster-Yale Materials Handling’s payout ratio is presently 15.71%.

Hyster-Yale Materials Handling declared that its Board of Directors has initiated a share buyback program 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 repurchase up to 5.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Roth Mkm lowered their price objective on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. StockNews.com lowered Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Northland Capmk cut Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.00.

Hyster-Yale Materials Handling Company Profile

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.