Gallacher Capital Management LLC Increases Holdings in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Gallacher Capital Management LLC lifted its position in Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 12.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,978 shares of the industrial products company’s stock after purchasing an additional 885 shares during the period. Gallacher Capital Management LLC’s holdings in Hyster-Yale Materials Handling were worth $406,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Covestor Ltd boosted its holdings in shares of Hyster-Yale Materials Handling by 21,350.0% in the third quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 427 shares during the period. Pinpoint Asset Management Ltd purchased a new stake in shares of Hyster-Yale Materials Handling in the third quarter valued at approximately $32,000. US Bancorp DE lifted its holdings in Hyster-Yale Materials Handling by 29.1% during the fourth quarter. US Bancorp DE now owns 1,726 shares of the industrial products company’s stock worth $88,000 after buying an additional 389 shares during the period. Quest Partners LLC lifted its holdings in Hyster-Yale Materials Handling by 189.0% during the third quarter. Quest Partners LLC now owns 2,552 shares of the industrial products company’s stock worth $163,000 after buying an additional 1,669 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Hyster-Yale Materials Handling during the third quarter worth $231,000. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Stock Up 3.1 %

Hyster-Yale Materials Handling stock opened at $44.86 on Friday. The business has a fifty day moving average of $51.00 and a two-hundred day moving average of $55.97. The company has a quick ratio of 0.61, a current ratio of 1.36 and a debt-to-equity ratio of 0.46. The firm has a market cap of $793.82 million, a P/E ratio of 5.03 and a beta of 1.27. Hyster-Yale Materials Handling, Inc. has a twelve month low of $42.59 and a twelve month high of $84.44.

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

Hyster-Yale Materials Handling Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.40 annualized dividend and a dividend yield of 3.12%. Hyster-Yale Materials Handling’s dividend payout ratio is presently 17.37%.

Analyst Ratings Changes

Separately, StockNews.com lowered Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Friday, March 7th.

Hyster-Yale Materials Handling 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.