Mcdonald Partners LLC Has $1.86 Million Position in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Mcdonald Partners LLC lessened its stake in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 6.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,576 shares of the industrial products company’s stock after selling 2,527 shares during the period. Mcdonald Partners LLC owned 0.21% of Hyster-Yale Materials Handling worth $1,863,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd grew its holdings in shares of Hyster-Yale Materials Handling by 21,350.0% during the 3rd quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 427 shares in the last quarter. Pinpoint Asset Management Ltd bought a new stake in Hyster-Yale Materials Handling during the third quarter worth about $32,000. Franklin Resources Inc. grew its stake in Hyster-Yale Materials Handling by 4.7% during the third quarter. Franklin Resources Inc. now owns 18,680 shares of the industrial products company’s stock worth $1,260,000 after buying an additional 845 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Hyster-Yale Materials Handling by 10.7% in the 4th quarter. Principal Financial Group Inc. now owns 10,092 shares of the industrial products company’s stock valued at $514,000 after buying an additional 972 shares during the period. Finally, Foundry Partners LLC increased its holdings in Hyster-Yale Materials Handling by 1.6% in 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 period. 46.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HY. StockNews.com downgraded shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Roth Mkm cut their target price on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a research note 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $80.00.

Hyster-Yale Materials Handling Stock Up 0.9 %

HY stock opened at $52.81 on Tuesday. The firm has a 50-day moving average price of $52.23 and a 200-day moving average price of $57.72. Hyster-Yale Materials Handling, Inc. has a 12 month low of $48.73 and a 12 month high of $84.44. 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 stock has a market capitalization of $924.70 million, a P/E ratio of 5.93 and a beta of 1.26.

Hyster-Yale Materials Handling Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Friday, February 28th. Hyster-Yale Materials Handling’s payout ratio is 15.71%.

Hyster-Yale Materials Handling announced that its board has authorized a share repurchase program on Monday, November 18th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 5.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board 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.