The Manufacturers Life Insurance Company Grows Stake in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

The Manufacturers Life Insurance Company boosted its position in Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 41.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,280 shares of the industrial products company’s stock after purchasing an additional 1,838 shares during the period. The Manufacturers Life Insurance Company’s holdings in Hyster-Yale Materials Handling were worth $400,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Truvestments Capital LLC grew its holdings in Hyster-Yale Materials Handling by 19.1% during the 3rd quarter. Truvestments Capital LLC now owns 37,452 shares of the industrial products company’s stock valued at $2,388,000 after buying an additional 6,002 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Hyster-Yale Materials Handling by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 115,159 shares of the industrial products company’s stock valued at $7,344,000 after buying an additional 4,296 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Hyster-Yale Materials Handling during the 3rd quarter valued at $231,000. Foundry Partners LLC grew its holdings in Hyster-Yale Materials Handling by 1.6% during the 3rd quarter. Foundry Partners LLC now owns 73,525 shares of the industrial products company’s stock valued at $4,689,000 after buying an additional 1,162 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in Hyster-Yale Materials Handling during the 3rd quarter valued at $1,910,000. 46.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HY has been the topic of a number of analyst reports. StockNews.com cut Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Roth Mkm decreased their price objective on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

Hyster-Yale Materials Handling Price Performance

Shares of Hyster-Yale Materials Handling stock opened at $55.06 on Monday. Hyster-Yale Materials Handling, Inc. has a twelve month low of $48.73 and a twelve month high of $84.44. The stock has a market capitalization of $963.99 million, a P/E ratio of 6.18 and a beta of 1.25. The company has a current ratio of 1.36, a quick ratio of 0.61 and a debt-to-equity ratio of 0.46. The business’s fifty day moving average price is $59.67 and its 200 day moving average price is $64.31.

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

Hyster-Yale Materials Handling announced that its Board of Directors has initiated a share buyback program on Monday, November 18th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 5.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Hyster-Yale Materials Handling Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Friday, November 29th. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is presently 15.71%.

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.