Empowered Funds LLC Invests $1.24 Million in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Empowered Funds LLC bought a new position in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 24,399 shares of the industrial products company’s stock, valued at approximately $1,243,000. Empowered Funds LLC owned 0.14% of Hyster-Yale Materials Handling as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Covestor Ltd grew its stake in 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 during the period. Pinpoint Asset Management Ltd purchased a new stake in Hyster-Yale Materials Handling during the 3rd quarter worth $32,000. Quest Partners LLC boosted its position in Hyster-Yale Materials Handling by 189.0% during the 3rd quarter. Quest Partners LLC now owns 2,552 shares of the industrial products company’s stock worth $163,000 after purchasing an additional 1,669 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in Hyster-Yale Materials Handling in the third quarter valued at about $231,000. Finally, Centiva Capital LP lifted its stake in shares of Hyster-Yale Materials Handling by 48.1% during the third quarter. Centiva Capital LP now owns 5,434 shares of the industrial products company’s stock worth $347,000 after purchasing an additional 1,766 shares in the last quarter. Institutional investors and hedge funds own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Stock Up 0.9 %

Shares of Hyster-Yale Materials Handling stock opened at $52.81 on Monday. Hyster-Yale Materials Handling, Inc. has a 1-year low of $48.73 and a 1-year high of $84.44. The company has a market capitalization of $924.60 million, a PE ratio of 5.93 and a beta of 1.26. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.61. The business has a 50-day moving average of $52.28 and a 200-day moving average of $57.91.

Hyster-Yale Materials Handling announced that its board has initiated a stock 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 purchase up to 5.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Hyster-Yale Materials Handling Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, February 28th. This represents a $1.40 dividend on an annualized basis and a yield of 2.65%. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is presently 15.71%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on HY shares. StockNews.com lowered Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Roth Mkm lowered 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 research 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 company’s stock. According to MarketBeat.com, Hyster-Yale Materials Handling currently has a consensus rating of “Moderate Buy” and an average target price of $80.00.

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.