Renaissance Technologies LLC Acquires 3,700 Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Renaissance Technologies LLC boosted its holdings in Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 8.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,100 shares of the industrial products company’s stock after purchasing an additional 3,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Hyster-Yale Materials Handling were worth $3,493,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HY. EntryPoint Capital LLC purchased a new stake in shares of Hyster-Yale Materials Handling during the 1st quarter worth approximately $27,000. Quest Partners LLC raised its stake in Hyster-Yale Materials Handling by 6,692.3% during the second quarter. Quest Partners LLC now owns 883 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 870 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in Hyster-Yale Materials Handling by 67.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,356 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 548 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Hyster-Yale Materials Handling in the 1st quarter worth $190,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Hyster-Yale Materials Handling in the 2nd quarter worth about $194,000. 46.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on HY. Roth Mkm restated 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. Northland Securities raised shares of Hyster-Yale Materials Handling from a “market perform” rating to an “outperform” rating and set a $90.00 price objective for the company in a research note on Wednesday, June 5th. Northland Capmk downgraded shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, StockNews.com raised shares of Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.00.

Hyster-Yale Materials Handling Price Performance

HY opened at $63.73 on Monday. The business has a fifty day moving average of $64.13 and a 200 day moving average of $66.26. The stock has a market cap of $1.11 billion, a P/E ratio of 7.38 and a beta of 1.31. 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 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. The firm 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 previous year, the firm earned $2.21 earnings per share. As a group, sell-side analysts anticipate that Hyster-Yale Materials Handling, Inc. will post 9.69 EPS for the current year.

Hyster-Yale Materials Handling Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Friday, August 30th. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is presently 16.22%.

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.