BNP Paribas Financial Markets Decreases Holdings in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

BNP Paribas Financial Markets cut its stake in Hyster-Yale Materials Handling, Inc. (NYSE:HY - Free Report) by 36.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,997 shares of the industrial products company's stock after selling 10,309 shares during the period. BNP Paribas Financial Markets owned approximately 0.10% of Hyster-Yale Materials Handling worth $1,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. FMR LLC grew its position 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 acquiring an additional 12,390 shares during the period. The Manufacturers Life Insurance Company grew its position in Hyster-Yale Materials Handling by 41.4% in the third quarter. The Manufacturers Life Insurance Company now owns 6,280 shares of the industrial products company's stock worth $400,000 after acquiring an additional 1,838 shares during the period. Truvestments Capital LLC grew its position in Hyster-Yale Materials Handling by 19.1% in the third quarter. Truvestments Capital LLC now owns 37,452 shares of the industrial products company's stock worth $2,388,000 after acquiring an additional 6,002 shares during the period. Charles Schwab Investment Management Inc. grew its position in Hyster-Yale Materials Handling by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 115,159 shares of the industrial products company's stock worth $7,344,000 after acquiring an additional 4,296 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new position in Hyster-Yale Materials Handling in the third quarter worth approximately $231,000. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Roth Mkm reduced their price objective on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. StockNews.com cut Hyster-Yale Materials Handling from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.00.

Hyster-Yale Materials Handling Stock Performance

NYSE:HY traded down $0.31 during mid-day trading on Tuesday, reaching $55.20. The stock had a trading volume of 58,831 shares, compared to its average volume of 91,319. 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 has a market capitalization of $966.44 million, a price-to-earnings ratio of 6.20 and a beta of 1.25. Hyster-Yale Materials Handling, Inc. has a twelve month low of $48.73 and a twelve month high of $84.44. The business has a 50 day simple moving average of $60.18 and a 200 day simple moving average of $64.74.

Hyster-Yale Materials Handling (NYSE:HY - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.97 by ($1.00). Hyster-Yale Materials Handling had a net margin of 3.68% and a return on equity of 34.77%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the business posted $2.06 earnings per share. On average, analysts expect that Hyster-Yale Materials Handling, Inc. will post 8.85 earnings per share for the current fiscal year.

Hyster-Yale Materials Handling announced that its Board of Directors has initiated a stock buyback plan on Monday, November 18th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes 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 leadership believes its shares are undervalued.

Hyster-Yale Materials Handling Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.35 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.40 annualized dividend and a yield of 2.54%. Hyster-Yale Materials Handling's payout ratio is currently 15.71%.

About Hyster-Yale Materials Handling

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.