Gabelli Funds LLC Sells 1,100 Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Gabelli Funds LLC trimmed its position in Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 2.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,700 shares of the industrial products company’s stock after selling 1,100 shares during the period. Gabelli Funds LLC owned approximately 0.31% of Hyster-Yale Materials Handling worth $3,814,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of HY. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Hyster-Yale Materials Handling by 29.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 287,698 shares of the industrial products company’s stock valued at $18,462,000 after purchasing an additional 65,708 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Hyster-Yale Materials Handling by 63.7% in the second quarter. Acadian Asset Management LLC now owns 220,865 shares of the industrial products company’s stock worth $15,390,000 after acquiring an additional 85,906 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Hyster-Yale Materials Handling by 149.8% during the second quarter. American Century Companies Inc. now owns 151,241 shares of the industrial products company’s stock worth $10,546,000 after acquiring an additional 90,696 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Hyster-Yale Materials Handling by 298.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 132,136 shares of the industrial products company’s stock valued at $8,479,000 after acquiring an additional 98,996 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Hyster-Yale Materials Handling by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 115,550 shares of the industrial products company’s stock valued at $8,057,000 after acquiring an additional 2,619 shares in the last quarter. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Hyster-Yale Materials Handling Stock Performance

Shares of NYSE HY opened at $62.20 on Wednesday. The company has a 50 day simple moving average of $64.76 and a two-hundred day simple moving average of $66.22. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 7.21 and a beta of 1.31. The company has a current ratio of 1.31, a quick ratio of 0.63 and a debt-to-equity ratio of 0.53. Hyster-Yale Materials Handling, Inc. has a 12 month low of $38.50 and a 12 month high of $84.44.

Hyster-Yale Materials Handling (NYSE:HY) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $1.30. Hyster-Yale Materials Handling had a net margin of 4.13% and a return on equity of 44.49%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the company posted $2.21 earnings per share. As a group, analysts predict that Hyster-Yale Materials Handling, Inc. will post 9.69 earnings per share for the current year.

Hyster-Yale Materials Handling Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.40 annualized dividend and a dividend yield of 2.25%. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is presently 16.22%.

Analyst Ratings Changes

HY has been the topic of several research analyst reports. Roth Mkm reissued a “buy” rating and set a $84.00 target price (down previously from $87.00) on shares of Hyster-Yale Materials Handling in a research report on Thursday, August 8th. StockNews.com raised shares of Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a report on Tuesday. Northland Capmk lowered Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Northland Securities upgraded Hyster-Yale Materials Handling from a “market perform” rating to an “outperform” rating and set a $90.00 price target on the stock in a research note on Wednesday, June 5th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $87.00.

About Hyster-Yale Materials Handling

Hyster-Yale Materials Handling, 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.