Los Angeles Capital Management LLC Cuts Position in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Los Angeles Capital Management LLC trimmed its position in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 19.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,897 shares of the industrial products company’s stock after selling 3,148 shares during the period. Los Angeles Capital Management LLC’s holdings in Hyster-Yale Materials Handling were worth $657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Segall Bryant & Hamill LLC bought a new stake in Hyster-Yale Materials Handling in the third quarter worth $1,910,000. Empowered Funds LLC purchased a new position in shares of Hyster-Yale Materials Handling in the 4th quarter worth $1,243,000. Zacks Investment Management increased its holdings in shares of Hyster-Yale Materials Handling by 117.9% in the 3rd quarter. Zacks Investment Management now owns 32,063 shares of the industrial products company’s stock worth $2,045,000 after buying an additional 17,347 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Hyster-Yale Materials Handling during the 3rd quarter valued at about $866,000. Finally, FMR LLC lifted its holdings in shares of Hyster-Yale Materials Handling by 31.9% in the 3rd quarter. FMR LLC now owns 51,280 shares of the industrial products company’s stock valued at $3,270,000 after acquiring an additional 12,390 shares during the last quarter. 46.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on HY shares. Roth Mkm reduced their price objective on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. StockNews.com raised Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

Hyster-Yale Materials Handling Stock Down 5.8 %

Shares of NYSE HY opened at $50.65 on Monday. Hyster-Yale Materials Handling, Inc. has a 1 year low of $48.73 and a 1 year high of $84.44. The firm has a 50-day simple moving average of $52.16 and a two-hundred day simple moving average of $57.06. The company has a market cap of $886.83 million, a P/E ratio of 5.68 and a beta of 1.26. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.61.

Hyster-Yale Materials Handling announced that its board has authorized a share repurchase program on Monday, November 18th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 5.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Hyster-Yale Materials Handling Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Friday, February 28th. Hyster-Yale Materials Handling’s payout ratio is currently 17.37%.

About Hyster-Yale Materials Handling

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.