Vontobel Holding Ltd. Sells 7,609 Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Vontobel Holding Ltd. decreased its stake in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 8.6% during the fourth quarter, Holdings Channel reports. The firm owned 81,072 shares of the industrial products company’s stock after selling 7,609 shares during the quarter. Vontobel Holding Ltd.’s holdings in Hyster-Yale Materials Handling were worth $4,129,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Barclays PLC raised its position in Hyster-Yale Materials Handling by 19.0% in the third quarter. Barclays PLC now owns 26,492 shares of the industrial products company’s stock worth $1,690,000 after acquiring an additional 4,226 shares during the period. FMR LLC raised its position in Hyster-Yale Materials Handling by 31.9% in the third quarter. FMR LLC now owns 51,280 shares of the industrial products company’s stock worth $3,270,000 after acquiring an additional 12,390 shares during the period. GSA Capital Partners LLP bought a new position in Hyster-Yale Materials Handling in the third quarter worth approximately $866,000. Martingale Asset Management L P bought a new position in Hyster-Yale Materials Handling in the third quarter worth approximately $675,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Hyster-Yale Materials Handling in the third quarter worth $582,000. Institutional investors own 46.47% of the company’s stock.

Analyst Upgrades and Downgrades

HY has been the subject of a number of analyst reports. StockNews.com cut shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Roth Mkm reduced 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 note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.00.

Hyster-Yale Materials Handling Stock Performance

HY opened at $52.81 on Monday. The stock has a market capitalization of $924.60 million, a price-to-earnings ratio of 5.93 and a beta of 1.26. The company has a fifty day moving average of $52.28 and a 200 day moving average of $57.91. Hyster-Yale Materials Handling, Inc. has a fifty-two week low of $48.73 and a fifty-two week high of $84.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.61 and a current ratio of 1.36.

Hyster-Yale Materials Handling Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.40 annualized dividend and a yield of 2.65%. Hyster-Yale Materials Handling’s payout ratio is 15.71%.

Hyster-Yale Materials Handling declared that its board has authorized a stock buyback plan on Monday, November 18th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the industrial products company to purchase up to 5.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board 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.