Bank of New York Mellon Corp Lowers Stock Holdings in Full Truck Alliance Co. Ltd. (NYSE:YMM)

Bank of New York Mellon Corp trimmed its stake in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 83,529 shares of the company’s stock after selling 2,424 shares during the quarter. Bank of New York Mellon Corp’s holdings in Full Truck Alliance were worth $904,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Full Truck Alliance by 13.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 102,540 shares of the company’s stock valued at $924,000 after acquiring an additional 11,894 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Full Truck Alliance by 12.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 912,011 shares of the company’s stock valued at $8,217,000 after purchasing an additional 100,080 shares in the last quarter. Citigroup Inc. increased its position in Full Truck Alliance by 6.0% during the 3rd quarter. Citigroup Inc. now owns 483,469 shares of the company’s stock worth $4,356,000 after purchasing an additional 27,303 shares during the period. Quantbot Technologies LP raised its stake in shares of Full Truck Alliance by 4,028.6% during the 3rd quarter. Quantbot Technologies LP now owns 121,258 shares of the company’s stock worth $1,093,000 after buying an additional 118,321 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Full Truck Alliance in the 3rd quarter valued at approximately $4,218,000. 39.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on YMM shares. Citigroup upped their price objective on Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Barclays upped their price target on shares of Full Truck Alliance from $7.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Hsbc Global Res raised shares of Full Truck Alliance to a “strong-buy” rating in a report on Wednesday, February 26th. HSBC started coverage on shares of Full Truck Alliance in a research report on Wednesday, February 26th. They set a “buy” rating and a $18.00 target price on the stock. Finally, JPMorgan Chase & Co. raised Full Truck Alliance from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $13.00 to $18.00 in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $16.40.

Full Truck Alliance Price Performance

Shares of NYSE YMM opened at $13.00 on Wednesday. The firm’s 50-day moving average is $12.19 and its two-hundred day moving average is $10.47. Full Truck Alliance Co. Ltd. has a 12-month low of $6.66 and a 12-month high of $13.85. The company has a market capitalization of $13.70 billion, a PE ratio of 30.95 and a beta of 0.25.

Full Truck Alliance Increases Dividend

The business also recently announced an annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, April 7th will be issued a dividend of $0.1444 per share. This represents a yield of 0.9%. The ex-dividend date is Monday, April 7th. This is a boost from Full Truck Alliance’s previous annual dividend of $0.14. Full Truck Alliance’s dividend payout ratio is 39.02%.

Full Truck Alliance Profile

Full Truck Alliance Co Ltd., together with its subsidiaries, operates a digital freight platform that connects shippers with truckers to facilitate shipments across distance ranges, cargo weights, and types in the People's Republic of China. The company offers freight matching services, such as freight listing and brokerage services; and online transaction services, as well as various value-added services, such as credit solutions, insurance brokerage, software solutions, electronic toll collection, and energy services.