Swedbank AB Sells 2,228 Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Swedbank AB lessened its holdings in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,480 shares of the industrial products company’s stock after selling 2,228 shares during the period. Swedbank AB owned 0.31% of Hyster-Yale Materials Handling worth $2,724,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Covestor Ltd boosted its stake 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 acquiring an additional 427 shares in the last quarter. Pinpoint Asset Management Ltd bought a new stake in shares of Hyster-Yale Materials Handling in the 3rd quarter worth approximately $32,000. Quest Partners LLC grew its stake in shares of Hyster-Yale Materials Handling by 189.0% in the 3rd 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 last quarter. Massachusetts Financial Services Co. MA bought a new position in Hyster-Yale Materials Handling during the 3rd quarter valued at approximately $231,000. Finally, The Manufacturers Life Insurance Company raised its stake in Hyster-Yale Materials Handling by 4.7% during the second quarter. The Manufacturers Life Insurance Company now owns 4,442 shares of the industrial products company’s stock valued at $310,000 after buying an additional 200 shares during the last quarter. 46.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on HY shares. StockNews.com downgraded Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Roth Mkm decreased their target price on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $80.00.

Hyster-Yale Materials Handling Trading Down 1.6 %

Shares of NYSE:HY opened at $53.33 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.61. Hyster-Yale Materials Handling, Inc. has a 1 year low of $48.73 and a 1 year high of $84.44. The company has a market cap of $933.81 million, a P/E ratio of 5.99 and a beta of 1.27. The stock’s fifty day moving average price is $53.11 and its 200-day moving average price is $59.71.

Hyster-Yale Materials Handling (NYSE:HY) last posted its earnings results on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share (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 for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the company posted $2.06 EPS. Sell-side analysts expect that Hyster-Yale Materials Handling, Inc. will post 8.85 earnings per share for the current year.

Hyster-Yale Materials Handling Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.40 dividend on an annualized basis and a yield of 2.63%. Hyster-Yale Materials Handling’s dividend payout ratio is presently 15.71%.

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

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.