Jane Street Group LLC Trims Holdings in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Jane Street Group LLC cut its position in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 39.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,850 shares of the industrial products company’s stock after selling 8,278 shares during the quarter. Jane Street Group LLC’s holdings in Hyster-Yale Materials Handling were worth $819,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of HY. The Manufacturers Life Insurance Company raised its position in shares of 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 during the period. AQR Capital Management LLC boosted its position in Hyster-Yale Materials Handling by 0.5% during the 2nd quarter. AQR Capital Management LLC now owns 76,587 shares of the industrial products company’s stock worth $5,340,000 after purchasing an additional 363 shares during the period. Covestor Ltd boosted its position in 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 worth $27,000 after purchasing an additional 427 shares during the period. Dark Forest Capital Management LP raised its holdings in shares of Hyster-Yale Materials Handling by 9.4% during the 2nd quarter. Dark Forest Capital Management LP now owns 5,873 shares of the industrial products company’s stock valued at $410,000 after buying an additional 503 shares during the period. Finally, Pinpoint Asset Management Ltd acquired a new position in Hyster-Yale Materials Handling during the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Trading Up 0.6 %

NYSE:HY opened at $50.93 on Thursday. The business has a 50 day simple moving average of $55.51 and a 200 day simple moving average of $62.35. The firm has a market capitalization of $891.78 million, a P/E ratio of 5.72 and a beta of 1.25. 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 12-month low of $48.73 and a 12-month high of $84.44.

Hyster-Yale Materials Handling (NYSE:HY) last posted its earnings results on Tuesday, November 5th. The industrial products company reported $0.97 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the company posted $2.06 EPS. Equities research analysts predict that Hyster-Yale Materials Handling, Inc. will post 8.85 EPS for the current year.

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

Hyster-Yale Materials Handling Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date was Friday, November 29th. Hyster-Yale Materials Handling’s dividend payout ratio is currently 15.71%.

Analyst Ratings Changes

A number of equities analysts have weighed in on HY shares. StockNews.com cut shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Roth Mkm lowered their price objective on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.