Los Angeles Capital Management LLC Sells 3,100 Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Los Angeles Capital Management LLC reduced its position in Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 15.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,565 shares of the industrial products company’s stock after selling 3,100 shares during the quarter. Los Angeles Capital Management LLC owned 0.10% of Hyster-Yale Materials Handling worth $1,225,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in HY. Mirae Asset Global Investments Co. Ltd. boosted its position in Hyster-Yale Materials Handling by 29.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 287,698 shares of the industrial products company’s stock valued at $18,462,000 after acquiring an additional 65,708 shares in the last quarter. Acadian Asset Management LLC boosted its position in Hyster-Yale Materials Handling by 77.2% during the first quarter. Acadian Asset Management LLC now owns 134,959 shares of the industrial products company’s stock valued at $8,656,000 after purchasing an additional 58,814 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Hyster-Yale Materials Handling by 298.7% in 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 purchasing an additional 98,996 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Hyster-Yale Materials Handling by 2.3% in 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 purchasing an additional 2,619 shares in the last quarter. Finally, Hillsdale Investment Management Inc. lifted its position in shares of Hyster-Yale Materials Handling by 92,150.0% during the fourth quarter. Hillsdale Investment Management Inc. now owns 92,250 shares of the industrial products company’s stock valued at $5,737,000 after buying an additional 92,150 shares during the last quarter. 46.47% of the stock is owned by hedge funds and other institutional investors.

Hyster-Yale Materials Handling Stock Performance

Shares of Hyster-Yale Materials Handling stock opened at $57.82 on Thursday. The company has a 50 day moving average price of $66.14 and a 200 day moving average price of $66.17. The firm has a market capitalization of $1.01 billion, a P/E ratio of 6.70 and a beta of 1.32. 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, Inc. has a 52 week low of $38.50 and a 52 week high of $84.44.

Hyster-Yale Materials Handling (NYSE:HY) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $3.58 earnings per share (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 business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the business posted $2.21 EPS. Sell-side analysts expect that Hyster-Yale Materials Handling, Inc. will post 9.69 EPS for the current year.

Hyster-Yale Materials Handling Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.40 dividend on an annualized basis and a yield of 2.42%. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is 16.22%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Tuesday. 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. Northland Securities raised Hyster-Yale Materials Handling from a “market perform” rating to an “outperform” rating and set a $90.00 price target on the stock in a research report on Wednesday, June 5th. Finally, Roth Mkm reissued a “buy” rating and issued a $84.00 price objective (down previously from $87.00) on shares of Hyster-Yale Materials Handling in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hyster-Yale Materials Handling has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Hyster-Yale Materials Handling Profile

Hyster-Yale Materials Handling, 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.