Inspire Investing LLC reduced its position in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY – Free Report) by 61.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,874 shares of the industrial products company’s stock after selling 12,425 shares during the quarter. Inspire Investing LLC’s holdings in Hyster-Yale Materials Handling were worth $401,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in Hyster-Yale Materials Handling by 0.7% in the third quarter. Geode Capital Management LLC now owns 255,870 shares of the industrial products company’s stock valued at $16,320,000 after purchasing an additional 1,658 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Hyster-Yale Materials Handling by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 115,159 shares of the industrial products company’s stock valued at $7,344,000 after acquiring an additional 4,296 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Hyster-Yale Materials Handling by 0.5% in the 2nd quarter. AQR Capital Management LLC now owns 76,587 shares of the industrial products company’s stock valued at $5,340,000 after acquiring an additional 363 shares during the period. Foundry Partners LLC boosted its stake in Hyster-Yale Materials Handling by 1.6% during the 3rd quarter. Foundry Partners LLC now owns 73,525 shares of the industrial products company’s stock worth $4,689,000 after acquiring an additional 1,162 shares during the last quarter. Finally, FMR LLC grew its holdings in Hyster-Yale Materials Handling by 31.9% during the third quarter. FMR LLC now owns 51,280 shares of the industrial products company’s stock valued at $3,270,000 after purchasing an additional 12,390 shares during the period. 46.47% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
HY has been the topic of several analyst reports. Roth Mkm cut 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. StockNews.com lowered Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Hyster-Yale Materials Handling currently has a consensus rating of “Moderate Buy” and an average target price of $80.00.
Hyster-Yale Materials Handling Stock Down 0.6 %
Shares of HY stock opened at $53.38 on Monday. Hyster-Yale Materials Handling, Inc. has a 12-month low of $48.73 and a 12-month high of $84.44. The company has a quick ratio of 0.61, a current ratio of 1.36 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average of $53.26 and a 200-day moving average of $60.23. The company has a market capitalization of $934.58 million, a price-to-earnings ratio of 5.99 and a beta of 1.27.
Hyster-Yale Materials Handling (NYSE:HY – Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by ($1.00). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.06 billion. Hyster-Yale Materials Handling had a net margin of 3.68% and a return on equity of 34.77%. During the same period in the prior year, the business earned $2.06 EPS. As a group, equities research analysts predict that Hyster-Yale Materials Handling, Inc. will post 8.85 earnings per share for the current fiscal year.
Hyster-Yale Materials Handling Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Friday, November 29th. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is currently 15.71%.
Hyster-Yale Materials Handling declared that its Board of Directors has approved a stock buyback program on Monday, November 18th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the industrial products company to reacquire 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 stock is undervalued.
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.
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