Commonwealth Equity Services LLC Acquires New Position in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Commonwealth Equity Services LLC acquired a new stake in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,616 shares of the industrial products company’s stock, valued at approximately $531,000.

A number of other institutional investors have also modified their holdings of the business. Jacobs Levy Equity Management Inc. grew its position in Hyster-Yale Materials Handling by 298.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 132,136 shares of the industrial products company’s stock worth $8,479,000 after purchasing an additional 98,996 shares during the last quarter. Swedbank AB bought a new position in Hyster-Yale Materials Handling in the 1st quarter worth about $5,519,000. Lazard Asset Management LLC grew its position in Hyster-Yale Materials Handling by 2,033.6% in the 1st quarter. Lazard Asset Management LLC now owns 69,449 shares of the industrial products company’s stock worth $4,456,000 after purchasing an additional 66,194 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Hyster-Yale Materials Handling by 29.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 287,698 shares of the industrial products company’s stock worth $18,462,000 after purchasing an additional 65,708 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in Hyster-Yale Materials Handling by 77.2% in the 1st quarter. Acadian Asset Management LLC now owns 134,959 shares of the industrial products company’s stock worth $8,656,000 after purchasing an additional 58,814 shares during the last quarter. Institutional investors own 46.47% of the company’s stock.

Analyst Ratings Changes

HY has been the subject of several recent analyst reports. Roth Mkm restated a “buy” rating and issued 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. Northland Capmk cut shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. StockNews.com lowered shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Finally, Northland Securities raised shares of Hyster-Yale Materials Handling from a “market perform” rating to an “outperform” rating and set a $90.00 price target for the company in a research note on Wednesday, June 5th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Hyster-Yale Materials Handling Trading Down 1.1 %

Shares of NYSE:HY opened at $61.75 on Friday. The company has a 50 day moving average of $65.19 and a 200-day moving average of $66.07. The firm has a market cap of $1.08 billion, a P/E ratio of 7.16 and a beta of 1.31. Hyster-Yale Materials Handling, Inc. has a twelve month low of $38.50 and a twelve month high of $84.44. 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 (NYSE:HY) last released its earnings results on Tuesday, August 6th. The industrial products company reported $3.58 EPS for the quarter, beating 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 business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the business earned $2.21 earnings per share. As a group, analysts anticipate that Hyster-Yale Materials Handling, Inc. will post 9.69 earnings per share for the current fiscal year.

Hyster-Yale Materials Handling Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.27%. The ex-dividend date was Friday, August 30th. Hyster-Yale Materials Handling’s dividend payout ratio is presently 16.22%.

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.