Victory Capital Management Inc. Takes $387,000 Position in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Victory Capital Management Inc. purchased a new stake in Hyster-Yale Materials Handling, Inc. (NYSE:HY) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,071 shares of the industrial products company’s stock, valued at approximately $387,000.

Several other hedge funds and other institutional investors also recently modified their holdings of HY. Acadian Asset Management LLC increased its holdings in Hyster-Yale Materials Handling by 63.7% during the 2nd 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 during the period. American Century Companies Inc. increased its holdings in Hyster-Yale Materials Handling by 149.8% during the 2nd 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 period. Bank of New York Mellon Corp increased its holdings in Hyster-Yale Materials Handling by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 115,550 shares of the industrial products company’s stock worth $8,057,000 after acquiring an additional 2,619 shares during the period. Swedbank AB bought a new stake in Hyster-Yale Materials Handling during the 1st quarter worth approximately $5,519,000. Finally, AQR Capital Management LLC increased its holdings in Hyster-Yale Materials Handling by 0.5% during the 2nd quarter. AQR Capital Management LLC now owns 76,587 shares of the industrial products company’s stock worth $5,340,000 after acquiring an additional 363 shares during the period. Institutional investors own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Stock Performance

Hyster-Yale Materials Handling stock opened at $56.24 on Friday. The firm’s fifty day moving average price is $61.04 and its 200-day moving average price is $65.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.61 and a current ratio of 1.36. The stock has a market cap of $984.76 million, a P/E ratio of 6.31 and a beta of 1.32. Hyster-Yale Materials Handling, Inc. has a fifty-two week low of $47.05 and a fifty-two week high of $84.44.

Hyster-Yale Materials Handling (NYSE:HY) last released its earnings results on Tuesday, November 5th. The industrial products company reported $0.97 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 business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the business posted $2.06 EPS. On average, equities research analysts expect that Hyster-Yale Materials Handling, Inc. will post 8.85 earnings per share for the current fiscal year.

Hyster-Yale Materials Handling declared that its board has approved a stock buyback plan on Monday, November 18th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 5.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

Hyster-Yale Materials Handling Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms recently weighed in on HY. Northland Capmk lowered shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. StockNews.com cut shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Roth Mkm lowered their price objective on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $80.00.

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.