Allspring Global Investments Holdings LLC Sells 3,344 Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Allspring Global Investments Holdings LLC lessened its stake in Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 24.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,418 shares of the industrial products company’s stock after selling 3,344 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.06% of Hyster-Yale Materials Handling worth $531,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of HY. Covestor Ltd increased its position in shares of Hyster-Yale Materials Handling by 21,350.0% during the third quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 427 shares during the last quarter. Pinpoint Asset Management Ltd purchased a new stake in shares of Hyster-Yale Materials Handling during the third quarter valued at approximately $32,000. Quest Partners LLC increased its position in shares of Hyster-Yale Materials Handling by 189.0% during the third quarter. Quest Partners LLC now owns 2,552 shares of the industrial products company’s stock valued at $163,000 after acquiring an additional 1,669 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Hyster-Yale Materials Handling during the third quarter valued at approximately $231,000. Finally, Centiva Capital LP increased its position in shares of Hyster-Yale Materials Handling by 48.1% during the third quarter. Centiva Capital LP now owns 5,434 shares of the industrial products company’s stock valued at $347,000 after acquiring an additional 1,766 shares during the last quarter. Institutional investors own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Stock Performance

NYSE:HY opened at $50.52 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.61. The business has a fifty day simple moving average of $52.04 and a two-hundred day simple moving average of $57.24. Hyster-Yale Materials Handling, Inc. has a 1 year low of $48.73 and a 1 year high of $84.44. The company has a market capitalization of $884.66 million, a P/E ratio of 5.67 and a beta of 1.26.

Hyster-Yale Materials Handling declared that its board has approved a share buyback program on Monday, November 18th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 5.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Hyster-Yale Materials Handling Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Friday, February 28th. Hyster-Yale Materials Handling’s dividend payout ratio is currently 15.71%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HY. Roth Mkm decreased their price target on 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 downgraded Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Hyster-Yale Materials Handling 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.