Mirae Asset Global Investments Co. Ltd. Sells 494 Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,959 shares of the industrial products company’s stock after selling 494 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.06% of Hyster-Yale Materials Handling worth $500,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Principal Financial Group Inc. bought a new position in shares of Hyster-Yale Materials Handling during the third quarter valued at approximately $582,000. Franklin Resources Inc. boosted its stake in shares of Hyster-Yale Materials Handling by 4.7% during the third quarter. Franklin Resources Inc. now owns 18,680 shares of the industrial products company’s stock valued at $1,260,000 after purchasing an additional 845 shares in the last quarter. Barclays PLC boosted its stake in shares of Hyster-Yale Materials Handling by 19.0% during the third quarter. Barclays PLC now owns 26,492 shares of the industrial products company’s stock valued at $1,690,000 after purchasing an additional 4,226 shares in the last quarter. Geode Capital Management LLC lifted its position in Hyster-Yale Materials Handling by 0.7% during the third quarter. Geode Capital Management LLC now owns 255,870 shares of the industrial products company’s stock valued at $16,320,000 after acquiring an additional 1,658 shares during the last quarter. Finally, Zacks Investment Management lifted its position in Hyster-Yale Materials Handling by 117.9% during the third quarter. Zacks Investment Management now owns 32,063 shares of the industrial products company’s stock valued at $2,045,000 after acquiring an additional 17,347 shares during the last quarter. 46.47% of the stock is currently owned by institutional investors.

Hyster-Yale Materials Handling Stock Down 2.6 %

HY stock opened at $51.37 on Thursday. The firm has a market cap of $899.49 million, a PE ratio of 5.77 and a beta of 1.26. 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 firm’s fifty day moving average is $52.54 and its 200 day moving average is $58.52. Hyster-Yale Materials Handling, Inc. has a one year low of $48.73 and a one year high of $84.44.

Hyster-Yale Materials Handling Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.73%. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is 15.71%.

Hyster-Yale Materials Handling declared that its board has authorized a stock buyback program on Monday, November 18th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 5.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on HY shares. Roth Mkm decreased their target price on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. StockNews.com cut shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hyster-Yale Materials Handling has a consensus rating of “Moderate Buy” and a consensus price target of $80.00.

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.