Hyster-Yale Materials Handling, Inc. (NYSE:HY) Shares Sold by Summit Global Investments

Summit Global Investments cut its stake in Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 45.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,678 shares of the industrial products company’s stock after selling 4,656 shares during the period. Summit Global Investments’ holdings in Hyster-Yale Materials Handling were worth $362,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Acadian Asset Management LLC raised its stake in Hyster-Yale Materials Handling by 63.7% during the second 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 during the period. American Century Companies Inc. boosted its holdings in 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 valued at $10,546,000 after acquiring an additional 90,696 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in 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 acquiring an additional 98,996 shares during the period. Bank of New York Mellon Corp increased its stake in 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 worth $8,057,000 after acquiring an additional 2,619 shares during the last quarter. Finally, Swedbank AB purchased a new position in shares of Hyster-Yale Materials Handling in the 1st quarter worth about $5,519,000. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

Hyster-Yale Materials Handling Stock Down 4.0 %

Shares of NYSE:HY opened at $53.38 on Monday. The company has a 50 day moving average of $62.45 and a two-hundred day moving average of $66.80. Hyster-Yale Materials Handling, Inc. has a 52-week low of $43.98 and a 52-week high of $84.44. The company has a quick ratio of 0.63, a current ratio of 1.36 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $934.15 million, a price-to-earnings ratio of 5.99 and a beta of 1.32.

Hyster-Yale Materials Handling (NYSE:HY) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by ($1.00). Hyster-Yale Materials Handling had a net margin of 3.68% and a return on equity of 34.77%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the business posted $2.06 earnings per share. As a group, analysts forecast 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 firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Friday, August 30th. Hyster-Yale Materials Handling’s dividend payout ratio is currently 15.71%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Northland Capmk cut shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. StockNews.com lowered shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Roth Mkm lowered their price target on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $80.00.

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.