Hyster-Yale Materials Handling, Inc. (NYSE:HY) Shares Bought by Quest Partners LLC

Quest Partners LLC raised its holdings in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 189.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,552 shares of the industrial products company’s stock after acquiring an additional 1,669 shares during the period. Quest Partners LLC’s holdings in Hyster-Yale Materials Handling were worth $163,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of HY. Price T Rowe Associates Inc. MD increased its holdings in shares of Hyster-Yale Materials Handling by 296.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,397 shares of the industrial products company’s stock valued at $1,566,000 after buying an additional 18,247 shares in the last quarter. Swedbank AB purchased a new position in shares of Hyster-Yale Materials Handling during the first quarter valued at $5,519,000. DekaBank Deutsche Girozentrale boosted its position in Hyster-Yale Materials Handling by 67.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,356 shares of the industrial products company’s stock worth $83,000 after acquiring an additional 548 shares during the period. CWM LLC boosted its holdings in shares of 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 during the period. Finally, Diversified Trust Co purchased a new stake in Hyster-Yale Materials Handling in the 2nd quarter worth approximately $210,000. Institutional investors own 46.47% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on HY. Northland Capmk cut Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Roth Mkm decreased 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 report on Wednesday, November 6th. Finally, StockNews.com downgraded Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Two 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 currently has an average rating of “Moderate Buy” and an average price target of $80.00.

Hyster-Yale Materials Handling Stock Performance

Hyster-Yale Materials Handling stock opened at $56.22 on Friday. Hyster-Yale Materials Handling, Inc. has a 12-month low of $47.05 and a 12-month high of $84.44. The stock has a market capitalization of $984.30 million, a price-to-earnings ratio of 6.31 and a beta of 1.32. The company has a quick ratio of 0.61, a current ratio of 1.36 and a debt-to-equity ratio of 0.46. The stock has a 50-day simple moving average of $61.15 and a 200 day simple moving average of $65.93.

Hyster-Yale Materials Handling (NYSE:HY) last posted its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by ($1.00). The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.06 billion. Hyster-Yale Materials Handling had a return on equity of 34.77% and a net margin of 3.68%. During the same period last year, the firm earned $2.06 earnings per share. On average, research analysts anticipate that Hyster-Yale Materials Handling, Inc. will post 8.85 earnings per share for the current fiscal year.

Hyster-Yale Materials Handling declared that its Board of Directors has authorized a stock repurchase program on Monday, November 18th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the industrial products company to purchase up to 5.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Hyster-Yale Materials Handling Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, November 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.49%. Hyster-Yale Materials Handling’s payout ratio is 15.71%.

About Hyster-Yale Materials Handling

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.