JPMorgan Chase & Co. Sells 13,249 Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY)

JPMorgan Chase & Co. decreased its stake in Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 35.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,816 shares of the industrial products company’s stock after selling 13,249 shares during the period. JPMorgan Chase & Co. owned about 0.14% of Hyster-Yale Materials Handling worth $1,519,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HY. Geode Capital Management LLC increased its position in shares of Hyster-Yale Materials Handling by 0.7% during the third quarter. Geode Capital Management LLC now owns 255,870 shares of the industrial products company’s stock worth $16,320,000 after buying an additional 1,658 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Hyster-Yale Materials Handling by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 115,159 shares of the industrial products company’s stock valued at $7,344,000 after buying an additional 4,296 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Hyster-Yale Materials Handling by 0.5% in the second quarter. AQR Capital Management LLC now owns 76,587 shares of the industrial products company’s stock valued at $5,340,000 after buying an additional 363 shares in the last quarter. Foundry Partners LLC lifted its stake in shares of Hyster-Yale Materials Handling by 1.6% in the third 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 in the last quarter. Finally, FMR LLC lifted its position in shares of Hyster-Yale Materials Handling by 31.9% during the third quarter. FMR LLC now owns 51,280 shares of the industrial products company’s stock valued at $3,270,000 after purchasing an additional 12,390 shares in the last quarter. Institutional investors own 46.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on HY shares. Roth Mkm reduced 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 research note on Wednesday, November 6th. StockNews.com cut shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Hyster-Yale Materials Handling presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.00.

Hyster-Yale Materials Handling Price Performance

HY opened at $53.52 on Friday. 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 capitalization of $937.10 million, a P/E ratio of 6.01 and a beta of 1.27. The company’s 50-day simple moving average is $53.24 and its two-hundred day simple moving average is $60.45. Hyster-Yale Materials Handling, Inc. has a 52-week low of $48.73 and a 52-week 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 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. As a group, analysts predict that Hyster-Yale Materials Handling, Inc. will post 8.85 EPS for the current year.

Hyster-Yale Materials Handling Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date was Friday, November 29th. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is presently 15.71%.

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

Hyster-Yale Materials Handling Company 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.