ProShare Advisors LLC Sells 21,697 Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY)

ProShare Advisors LLC decreased its stake in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 16.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,563 shares of the industrial products company’s stock after selling 21,697 shares during the period. ProShare Advisors LLC owned about 0.64% of Hyster-Yale Materials Handling worth $7,849,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new stake in Hyster-Yale Materials Handling during the first quarter valued at approximately $27,000. Quest Partners LLC increased its holdings in Hyster-Yale Materials Handling by 6,692.3% during the second quarter. Quest Partners LLC now owns 883 shares of the industrial products company’s stock valued at $62,000 after buying an additional 870 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Hyster-Yale Materials Handling by 67.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,356 shares of the industrial products company’s stock valued at $83,000 after buying an additional 548 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in Hyster-Yale Materials Handling during the first quarter valued at approximately $190,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Hyster-Yale Materials Handling in the second quarter worth $194,000. Institutional investors own 46.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on HY shares. Roth Mkm restated a “buy” rating and set a $84.00 price objective (down from $87.00) on shares of Hyster-Yale Materials Handling in a research report on Thursday, August 8th. Northland Securities upgraded shares of Hyster-Yale Materials Handling from a “market perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research report on Wednesday, June 5th. Northland Capmk downgraded shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $87.00.

Hyster-Yale Materials Handling Stock Performance

Shares of NYSE HY opened at $62.20 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.63 and a current ratio of 1.31. The company has a market cap of $1.09 billion, a P/E ratio of 7.21 and a beta of 1.31. The firm’s fifty day moving average is $64.76 and its two-hundred day moving average is $66.22. Hyster-Yale Materials Handling, Inc. has a 52-week low of $38.50 and a 52-week high of $84.44.

Hyster-Yale Materials Handling (NYSE:HY) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $1.30. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.08 billion. Hyster-Yale Materials Handling had a net margin of 4.13% and a return on equity of 44.49%. During the same period in the previous year, the firm posted $2.21 EPS. As a group, analysts anticipate that Hyster-Yale Materials Handling, Inc. will post 9.69 EPS for the current fiscal year.

Hyster-Yale Materials Handling Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.35 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.25%. Hyster-Yale Materials Handling’s payout ratio is currently 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.