Martingale Asset Management L P Takes Position in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Martingale Asset Management L P bought a new position in Hyster-Yale Materials Handling, Inc. (NYSE:HY - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 10,585 shares of the industrial products company's stock, valued at approximately $675,000. Martingale Asset Management L P owned 0.06% of Hyster-Yale Materials Handling at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in HY. De Lisle Partners LLP lifted its stake in shares of Hyster-Yale Materials Handling by 23.4% during the 3rd quarter. De Lisle Partners LLP now owns 40,241 shares of the industrial products company's stock worth $2,564,000 after purchasing an additional 7,642 shares during the last quarter. FMR LLC lifted its stake in shares of Hyster-Yale Materials Handling by 31.9% during the 3rd quarter. FMR LLC now owns 51,280 shares of the industrial products company's stock worth $3,270,000 after purchasing an additional 12,390 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Hyster-Yale Materials Handling by 41.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,280 shares of the industrial products company's stock worth $400,000 after purchasing an additional 1,838 shares during the last quarter. Truvestments Capital LLC lifted its stake in shares of Hyster-Yale Materials Handling by 19.1% during the 3rd quarter. Truvestments Capital LLC now owns 37,452 shares of the industrial products company's stock worth $2,388,000 after purchasing an additional 6,002 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Hyster-Yale Materials Handling by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 115,159 shares of the industrial products company's stock worth $7,344,000 after purchasing an additional 4,296 shares during the last quarter. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

Hyster-Yale Materials Handling Stock Performance

Shares of HY stock traded down $0.37 during mid-day trading on Tuesday, reaching $56.31. The stock had a trading volume of 71,216 shares, compared to its average volume of 91,762. The business's fifty day moving average is $60.95 and its 200-day moving average is $65.54. The company has a current ratio of 1.36, a quick ratio of 0.61 and a debt-to-equity ratio of 0.46. The firm has a market cap of $985.99 million, a price-to-earnings ratio of 6.32 and a beta of 1.25. Hyster-Yale Materials Handling, Inc. has a 1-year low of $48.45 and a 1-year high of $84.44.

Hyster-Yale Materials Handling (NYSE:HY - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.06 billion. Hyster-Yale Materials Handling had a net margin of 3.68% and a return on equity of 34.77%. During the same period in the prior year, the company posted $2.06 earnings per share. On average, research analysts forecast that Hyster-Yale Materials Handling, Inc. will post 8.85 earnings per share for the current year.

Hyster-Yale Materials Handling announced that its Board of Directors has approved a stock repurchase plan 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 plans are usually an indication that the company's management believes its shares are undervalued.

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 yield of 2.49%. The ex-dividend date of this dividend is Friday, November 29th. Hyster-Yale Materials Handling's dividend payout ratio (DPR) is 15.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on HY shares. 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 target on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Finally, StockNews.com cut 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 company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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.