Connor Clark & Lunn Investment Management Ltd. Sells 3,810 Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 17.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 17,755 shares of the industrial products company’s stock after selling 3,810 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Hyster-Yale Materials Handling were worth $1,132,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new position in Hyster-Yale Materials Handling in the first quarter valued at about $27,000. Covestor Ltd boosted its holdings in Hyster-Yale Materials Handling by 21,350.0% during the third quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock worth $27,000 after buying an additional 427 shares during the last quarter. Quest Partners LLC boosted its holdings 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 worth $62,000 after buying an additional 870 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Hyster-Yale Materials Handling during the second quarter worth about $67,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings 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 worth $83,000 after buying an additional 548 shares during the last quarter. Institutional investors own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Stock Down 1.2 %

NYSE:HY opened at $56.14 on Thursday. The firm has a market capitalization of $983.01 million, a price-to-earnings ratio of 6.30 and a beta of 1.32. Hyster-Yale Materials Handling, Inc. has a twelve month low of $47.05 and a twelve month high of $84.44. The stock’s 50 day moving average price is $61.28 and its two-hundred day moving average price is $66.00. The company has a quick ratio of 0.61, a current ratio of 1.36 and a debt-to-equity ratio of 0.46.

Hyster-Yale Materials Handling (NYSE:HY) last posted its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.97 by ($1.00). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.06 billion. Hyster-Yale Materials Handling had a return on equity of 34.77% and a net margin of 3.68%. During the same period last year, the firm earned $2.06 EPS. Equities research analysts expect that Hyster-Yale Materials Handling, Inc. will post 8.85 earnings per share for the current fiscal year.

Hyster-Yale Materials Handling declared that its Board of Directors has approved a stock buyback program on Monday, November 18th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the industrial products company to repurchase up to 5.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Hyster-Yale Materials Handling Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on HY shares. Roth Mkm dropped their price target on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Northland Capmk lowered Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, StockNews.com lowered Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Hyster-Yale Materials Handling has a consensus rating of “Moderate Buy” and an average target price of $80.00.

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.