Principal Financial Group Inc. Increases Stake in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Principal Financial Group Inc. increased its holdings in Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 10.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,092 shares of the industrial products company’s stock after acquiring an additional 972 shares during the quarter. Principal Financial Group Inc. owned approximately 0.06% of Hyster-Yale Materials Handling worth $514,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in HY. Geode Capital Management LLC increased its position in Hyster-Yale Materials Handling by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 255,870 shares of the industrial products company’s stock valued at $16,320,000 after purchasing an additional 1,658 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Hyster-Yale Materials Handling by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 115,159 shares of the industrial products company’s stock valued at $7,344,000 after purchasing an additional 4,296 shares in the last quarter. Foundry Partners LLC increased its holdings in Hyster-Yale Materials Handling by 1.6% during the third quarter. Foundry Partners LLC now owns 73,525 shares of the industrial products company’s stock valued at $4,689,000 after buying an additional 1,162 shares during the period. FMR LLC raised its stake in Hyster-Yale Materials Handling by 31.9% in the third quarter. FMR LLC now owns 51,280 shares of the industrial products company’s stock worth $3,270,000 after buying an additional 12,390 shares in the last quarter. Finally, De Lisle Partners LLP lifted its holdings in Hyster-Yale Materials Handling by 23.4% during the third quarter. De Lisle Partners LLP now owns 40,241 shares of the industrial products company’s stock worth $2,564,000 after buying an additional 7,642 shares during the period. 46.47% of the stock is owned by hedge funds and other institutional investors.

Hyster-Yale Materials Handling Stock Up 0.0 %

NYSE:HY opened at $44.86 on Friday. The company’s 50-day simple moving average is $51.69 and its 200-day simple moving average is $56.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.61 and a current ratio of 1.36. Hyster-Yale Materials Handling, Inc. has a fifty-two week low of $42.59 and a fifty-two week high of $84.44. The stock has a market capitalization of $785.46 million, a P/E ratio of 5.04 and a beta of 1.27.

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

Hyster-Yale Materials Handling Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.12%. The ex-dividend date is Friday, February 28th. Hyster-Yale Materials Handling’s dividend payout ratio is currently 17.37%.

Analyst Ratings Changes

Separately, StockNews.com downgraded Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Friday.

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.