Bank of New York Mellon Corp Purchases 2,446 Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Bank of New York Mellon Corp lifted its stake in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 2.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 109,206 shares of the industrial products company’s stock after buying an additional 2,446 shares during the quarter. Bank of New York Mellon Corp’s holdings in Hyster-Yale Materials Handling were worth $5,562,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of HY. Geode Capital Management LLC increased its holdings in Hyster-Yale Materials Handling by 0.7% during 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 buying an additional 1,658 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Hyster-Yale Materials Handling by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 115,159 shares of the industrial products company’s stock valued at $7,344,000 after purchasing an additional 4,296 shares during the period. Foundry Partners LLC lifted its position in Hyster-Yale Materials Handling by 1.6% during the third quarter. Foundry Partners LLC now owns 73,525 shares of the industrial products company’s stock valued at $4,689,000 after purchasing an additional 1,162 shares during the period. FMR LLC increased its holdings 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 valued at $3,270,000 after buying an additional 12,390 shares in the last quarter. Finally, De Lisle Partners LLP increased its holdings in Hyster-Yale Materials Handling by 23.4% in the third quarter. De Lisle Partners LLP now owns 40,241 shares of the industrial products company’s stock valued at $2,564,000 after buying an additional 7,642 shares in the last quarter. 46.47% of the stock is owned by hedge funds and other institutional investors.

Hyster-Yale Materials Handling Stock Up 3.1 %

Shares of NYSE HY opened at $44.86 on Monday. Hyster-Yale Materials Handling, Inc. has a 12-month low of $42.59 and a 12-month high of $84.44. The stock has a market cap of $793.82 million, a PE ratio of 5.03 and a beta of 1.27. The company has a current ratio of 1.36, a quick ratio of 0.61 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $51.00 and a 200 day moving average of $55.94.

Hyster-Yale Materials Handling Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.40 annualized dividend and a yield of 3.12%. Hyster-Yale Materials Handling’s dividend payout ratio is presently 17.37%.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Friday, March 7th.

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.