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

Algert Global LLC reduced its position in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 28.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,533 shares of the industrial products company’s stock after selling 7,970 shares during the period. Algert Global LLC owned 0.12% of Hyster-Yale Materials Handling worth $1,309,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Hyster-Yale Materials Handling by 296.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,397 shares of the industrial products company’s stock worth $1,566,000 after purchasing an additional 18,247 shares during the last quarter. Swedbank AB acquired a new stake in shares of Hyster-Yale Materials Handling during the 1st quarter worth about $5,519,000. Sei Investments Co. boosted its stake in shares of Hyster-Yale Materials Handling by 24.8% during the 2nd quarter. Sei Investments Co. now owns 44,166 shares of the industrial products company’s stock worth $3,080,000 after purchasing an additional 8,764 shares during the last quarter. Inspire Investing LLC boosted its stake in shares of Hyster-Yale Materials Handling by 86.8% during the 3rd quarter. Inspire Investing LLC now owns 20,299 shares of the industrial products company’s stock worth $1,294,000 after purchasing an additional 9,432 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Hyster-Yale Materials Handling by 4.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,442 shares of the industrial products company’s stock worth $310,000 after acquiring an additional 200 shares during the period. 46.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HY has been the topic of several recent analyst reports. StockNews.com lowered shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. 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, Roth Mkm cut their price objective on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $80.00.

Hyster-Yale Materials Handling Trading Down 1.1 %

NYSE HY opened at $56.22 on Friday. Hyster-Yale Materials Handling, Inc. has a one year low of $47.05 and a one year high of $84.44. The company’s 50 day moving average price is $61.15 and its 200 day moving average price is $65.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.61 and a current ratio of 1.36. The firm has a market capitalization of $984.30 million, a price-to-earnings ratio of 6.31 and a beta of 1.32.

Hyster-Yale Materials Handling (NYSE:HY) last posted its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.97 EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the business posted $2.06 EPS. On average, sell-side analysts predict that Hyster-Yale Materials Handling, Inc. will post 8.85 EPS for the current year.

Hyster-Yale Materials Handling Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.35 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.40 annualized dividend and a yield of 2.49%. Hyster-Yale Materials Handling’s payout ratio is 15.71%.

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

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.