Algert Global LLC Reduces Holdings in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Algert Global LLC lowered its position in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 28.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,533 shares of the industrial products company’s stock after selling 7,970 shares during the period. Algert Global LLC’s holdings in Hyster-Yale Materials Handling were worth $1,309,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Covestor Ltd grew its position in shares of 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 in the last quarter. Quest Partners LLC grew its position in shares of 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 in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Hyster-Yale Materials Handling during the second quarter worth approximately $67,000. DekaBank Deutsche Girozentrale grew its position in shares of 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 in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Hyster-Yale Materials Handling during the second quarter worth approximately $194,000. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Stock Performance

Hyster-Yale Materials Handling stock opened at $56.22 on Friday. The company has a market cap of $984.30 million, a PE ratio of 6.31 and a beta of 1.32. The company has a fifty day moving average price of $61.15 and a two-hundred day moving average price of $65.93. 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 12 month low of $47.05 and a 12 month high of $84.44.

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 analysts’ consensus estimates of $1.97 by ($1.00). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.06 billion. Hyster-Yale Materials Handling had a net margin of 3.68% and a return on equity of 34.77%. During the same quarter in the previous year, the business posted $2.06 earnings per share. Research analysts expect that Hyster-Yale Materials Handling, Inc. will post 8.85 earnings per share for the current year.

Hyster-Yale Materials Handling Dividend Announcement

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

Hyster-Yale Materials Handling announced that its board has initiated a share repurchase plan on Monday, November 18th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

HY has been the subject of a number of recent analyst reports. Northland Capmk downgraded shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Roth Mkm decreased their price objective 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. Finally, StockNews.com downgraded shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $80.00.

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.