Empowered Funds LLC Takes $1.24 Million Position in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Empowered Funds LLC acquired a new position in Hyster-Yale Materials Handling, Inc. (NYSE:HY - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 24,399 shares of the industrial products company's stock, valued at approximately $1,243,000. Empowered Funds LLC owned about 0.14% of Hyster-Yale Materials Handling at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Covestor Ltd boosted its holdings in Hyster-Yale Materials Handling by 21,350.0% during the 3rd 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 period. Pinpoint Asset Management Ltd purchased a new stake in shares of Hyster-Yale Materials Handling in the 3rd quarter worth $32,000. Quest Partners LLC raised its position in shares of Hyster-Yale Materials Handling by 189.0% in the 3rd quarter. Quest Partners LLC now owns 2,552 shares of the industrial products company's stock worth $163,000 after acquiring an additional 1,669 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Hyster-Yale Materials Handling in the 3rd quarter worth $231,000. Finally, Centiva Capital LP raised its position in shares of Hyster-Yale Materials Handling by 48.1% in the 3rd quarter. Centiva Capital LP now owns 5,434 shares of the industrial products company's stock worth $347,000 after acquiring an additional 1,766 shares in the last quarter. Hedge funds and other institutional investors own 46.47% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HY. Roth Mkm reduced their target price on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a "buy" rating on the stock 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 note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $80.00.

Hyster-Yale Materials Handling Price Performance

Shares of Hyster-Yale Materials Handling stock traded down $0.86 during mid-day trading on Thursday, reaching $53.49. 44,438 shares of the stock traded hands, compared to its average volume of 65,531. Hyster-Yale Materials Handling, Inc. has a fifty-two week low of $48.73 and a fifty-two week high of $84.44. The company has a quick ratio of 0.61, a current ratio of 1.36 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $936.57 million, a PE ratio of 6.00 and a beta of 1.26. The business has a 50-day moving average of $52.18 and a 200 day moving average of $57.56.

Hyster-Yale Materials Handling Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.40 annualized dividend and a dividend yield of 2.62%. Hyster-Yale Materials Handling's dividend payout ratio is currently 15.71%.

Hyster-Yale Materials Handling declared that its board has initiated a share buyback plan 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 stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.

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.