Principal Financial Group Inc. Buys Shares of 9,120 Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Principal Financial Group Inc. bought a new stake in Hyster-Yale Materials Handling, Inc. (NYSE:HY) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,120 shares of the industrial products company’s stock, valued at approximately $582,000. Principal Financial Group Inc. owned 0.05% of Hyster-Yale Materials Handling as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HY. CWM LLC raised its holdings in Hyster-Yale Materials Handling by 0.5% during the second quarter. CWM LLC now owns 41,992 shares of the industrial products company’s stock worth $2,928,000 after purchasing an additional 192 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Hyster-Yale Materials Handling by 4.7% during the second quarter. The Manufacturers Life Insurance Company now owns 4,442 shares of the industrial products company’s stock worth $310,000 after purchasing an additional 200 shares in the last quarter. Summit Global Investments raised its holdings in Hyster-Yale Materials Handling by 2.4% during the second quarter. Summit Global Investments now owns 10,334 shares of the industrial products company’s stock worth $721,000 after purchasing an additional 240 shares in the last quarter. Mcdonald Partners LLC raised its holdings in Hyster-Yale Materials Handling by 0.9% during the second quarter. Mcdonald Partners LLC now owns 40,256 shares of the industrial products company’s stock worth $2,807,000 after purchasing an additional 352 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Hyster-Yale Materials Handling by 0.5% during the second quarter. AQR Capital Management LLC now owns 76,587 shares of the industrial products company’s stock worth $5,340,000 after purchasing an additional 363 shares in the last quarter. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on HY. Northland Capmk downgraded shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Roth Mkm cut their target price on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Hyster-Yale Materials Handling Price Performance

Shares of HY stock opened at $56.79 on Monday. The firm’s 50 day moving average price is $61.49 and its two-hundred day moving average price is $66.41. 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 cap of $994.28 million, a PE ratio of 6.37 and a beta of 1.32. Hyster-Yale Materials Handling, Inc. has a 52-week low of $47.01 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 for the quarter, missing the consensus estimate of $1.97 by ($1.00). Hyster-Yale Materials Handling had a return on equity of 34.77% and a net margin of 3.68%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the business posted $2.06 earnings per share. As a group, analysts forecast that Hyster-Yale Materials Handling, Inc. will post 8.85 EPS for the current year.

Hyster-Yale Materials Handling Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, November 29th. Hyster-Yale Materials Handling’s payout ratio is 15.71%.

Hyster-Yale Materials Handling declared that its Board of Directors has approved a stock repurchase plan on Monday, November 18th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the industrial products company to purchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are 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.