Swedbank AB Trims Stake in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Swedbank AB trimmed its position in Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 24.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,708 shares of the industrial products company’s stock after selling 18,203 shares during the quarter. Swedbank AB owned 0.32% of Hyster-Yale Materials Handling worth $3,552,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in HY. EntryPoint Capital LLC purchased a new stake in Hyster-Yale Materials Handling in the first quarter worth about $27,000. Quest Partners LLC boosted its stake in shares of 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. Itau Unibanco Holding S.A. purchased a new position in Hyster-Yale Materials Handling during the second quarter valued at approximately $67,000. DekaBank Deutsche Girozentrale raised its stake in Hyster-Yale Materials Handling by 67.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,356 shares of the industrial products company’s stock worth $83,000 after buying an additional 548 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in Hyster-Yale Materials Handling during the first quarter worth $190,000. Institutional investors own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Stock Up 0.1 %

Hyster-Yale Materials Handling stock opened at $67.71 on Friday. Hyster-Yale Materials Handling, Inc. has a 1-year low of $38.50 and a 1-year high of $84.44. The business has a fifty day moving average price of $62.02 and a 200-day moving average price of $66.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.31 and a quick ratio of 0.63. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 7.85 and a beta of 1.31.

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 for the quarter, topping the consensus estimate of $2.28 by $1.30. Hyster-Yale Materials Handling had a return on equity of 44.49% and a net margin of 4.13%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the company earned $2.21 earnings per share. Equities research analysts forecast that Hyster-Yale Materials Handling, Inc. will post 9.69 EPS for the current fiscal year.

Hyster-Yale Materials Handling Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.35 per share. The ex-dividend date was Friday, August 30th. This represents a $1.40 dividend on an annualized basis and a yield of 2.07%. Hyster-Yale Materials Handling’s payout ratio is 16.22%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Roth Mkm reiterated a “buy” rating and issued a $84.00 price target (down from $87.00) on shares of Hyster-Yale Materials Handling in a report on Thursday, August 8th. Northland Capmk downgraded shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $87.00.

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.