Mirae Asset Global Investments Co. Ltd. Cuts Position in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 24.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 10,453 shares of the industrial products company’s stock after selling 3,303 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Hyster-Yale Materials Handling were worth $666,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Acadian Asset Management LLC boosted its stake in Hyster-Yale Materials Handling by 63.7% in the 2nd quarter. Acadian Asset Management LLC now owns 220,865 shares of the industrial products company’s stock worth $15,390,000 after purchasing an additional 85,906 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Hyster-Yale Materials Handling by 149.8% in the second quarter. American Century Companies Inc. now owns 151,241 shares of the industrial products company’s stock worth $10,546,000 after buying an additional 90,696 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Hyster-Yale Materials Handling by 298.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 132,136 shares of the industrial products company’s stock valued at $8,479,000 after buying an additional 98,996 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Hyster-Yale Materials Handling by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 115,550 shares of the industrial products company’s stock valued at $8,057,000 after acquiring an additional 2,619 shares in the last quarter. Finally, Swedbank AB purchased a new position in Hyster-Yale Materials Handling in the 1st quarter worth approximately $5,519,000. 46.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on HY shares. StockNews.com upgraded Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Roth Mkm reaffirmed a “buy” rating and set a $84.00 price objective (down from $87.00) on shares of Hyster-Yale Materials Handling in a research report on Thursday, August 8th. Finally, Northland Capmk lowered Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.00.

Hyster-Yale Materials Handling Stock Down 2.3 %

HY stock opened at $62.02 on Friday. The business’s 50-day moving average price is $63.00 and its 200-day moving average price is $66.89. The stock has a market cap of $1.09 billion, a P/E ratio of 6.20 and a beta of 1.32. Hyster-Yale Materials Handling, Inc. has a twelve month low of $41.35 and a twelve month 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 results on Tuesday, August 6th. The industrial products company reported $3.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $1.30. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.08 billion. Hyster-Yale Materials Handling had a net margin of 4.13% and a return on equity of 44.49%. During the same period in the prior year, the business posted $2.21 earnings per share. On average, equities research analysts forecast that Hyster-Yale Materials Handling, Inc. will post 9.69 EPS for the current year.

Hyster-Yale Materials Handling Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, August 30th. This represents a $1.40 dividend on an annualized basis and a yield of 2.26%. Hyster-Yale Materials Handling’s dividend payout ratio is presently 14.00%.

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.