A&I Financial Services LLC Invests $492,000 in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

A&I Financial Services LLC purchased a new stake in Hyster-Yale Materials Handling, Inc. (NYSE:HY - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 9,667 shares of the industrial products company's stock, valued at approximately $492,000. A&I Financial Services LLC owned approximately 0.06% of Hyster-Yale Materials Handling as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HY. Allspring Global Investments Holdings LLC grew its stake in Hyster-Yale Materials Handling by 27.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 13,762 shares of the industrial products company's stock valued at $878,000 after acquiring an additional 2,963 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Hyster-Yale Materials Handling during the 3rd quarter valued at $582,000. Covestor Ltd increased its holdings in shares of Hyster-Yale Materials Handling by 21,350.0% in the third quarter. Covestor Ltd now owns 429 shares of the industrial products company's stock worth $27,000 after purchasing an additional 427 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Hyster-Yale Materials Handling in the third quarter worth $866,000. Finally, Victory Capital Management Inc. bought a new stake in Hyster-Yale Materials Handling during the third quarter valued at $387,000. 46.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. StockNews.com upgraded Hyster-Yale Materials Handling from a "hold" rating to a "buy" rating in a research note on Thursday. Roth Mkm cut their price objective on 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. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.00.

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Hyster-Yale Materials Handling Price Performance

HY traded down $6.55 during trading on Monday, reaching $44.27. The stock had a trading volume of 210,509 shares, compared to its average volume of 74,880. The business has a 50-day moving average of $52.16 and a 200-day moving average of $57.05. Hyster-Yale Materials Handling, Inc. has a one year low of $43.98 and a one year high of $84.44. 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 stock has a market cap of $775.08 million, a PE ratio of 4.97 and a beta of 1.26.

Hyster-Yale Materials Handling announced that its Board of Directors has authorized a share buyback program on Monday, November 18th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the industrial products company to purchase up to 5.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Hyster-Yale Materials Handling Dividend Announcement

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 paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Friday, February 28th. Hyster-Yale Materials Handling's dividend payout ratio is currently 17.37%.

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.