Hyster-Yale Materials Handling, Inc. (NYSE:HY) Shares Purchased by Algert Global LLC

Algert Global LLC raised its stake in Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 311.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,503 shares of the industrial products company’s stock after buying an additional 21,583 shares during the period. Algert Global LLC owned approximately 0.16% of Hyster-Yale Materials Handling worth $1,988,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC purchased a new position in Hyster-Yale Materials Handling in the second quarter valued at about $358,000. The Manufacturers Life Insurance Company grew its position in shares of Hyster-Yale Materials Handling by 4.7% in the second quarter. The Manufacturers Life Insurance Company now owns 4,442 shares of the industrial products company’s stock valued at $310,000 after purchasing an additional 200 shares during the last quarter. Millennium Management LLC grew its position in shares of Hyster-Yale Materials Handling by 1.5% in the second quarter. Millennium Management LLC now owns 48,064 shares of the industrial products company’s stock valued at $3,352,000 after purchasing an additional 713 shares during the last quarter. Dark Forest Capital Management LP increased its stake 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 worth $410,000 after purchasing an additional 503 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of 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 last quarter. 46.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Northland Securities raised Hyster-Yale Materials Handling from a “market perform” rating to an “outperform” rating and set a $90.00 price target for the company in a research report on Wednesday, June 5th. Roth Mkm reissued a “buy” rating and issued a $84.00 target price (down previously from $87.00) on shares of Hyster-Yale Materials Handling in a research note on Thursday, August 8th. Northland Capmk lowered shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Hyster-Yale Materials Handling presently has a consensus rating of “Moderate Buy” and an average target price of $87.00.

Hyster-Yale Materials Handling Price Performance

Shares of NYSE:HY opened at $62.20 on Thursday. The company has a market cap of $1.09 billion, a P/E ratio of 7.21 and a beta of 1.31. The business has a fifty day simple moving average of $63.43 and a 200-day simple moving average of $66.37. Hyster-Yale Materials Handling, Inc. has a 52 week low of $38.50 and a 52 week high of $84.44. The company has a quick ratio of 0.63, a current ratio of 1.31 and a debt-to-equity ratio of 0.53.

Hyster-Yale Materials Handling (NYSE:HY) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $3.58 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $1.30. Hyster-Yale Materials Handling had a net margin of 4.13% and a return on equity of 44.49%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the company posted $2.21 EPS. Equities research analysts forecast that Hyster-Yale Materials Handling, Inc. will post 9.69 EPS for the current year.

Hyster-Yale Materials Handling Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Friday, August 30th. Hyster-Yale Materials Handling’s dividend payout ratio is currently 16.22%.

Hyster-Yale Materials Handling 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.