Fmr LLC Boosts Stock Position in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

FMR LLC raised its stake in Hyster-Yale Materials Handling, Inc. (NYSE:HY - Free Report) by 31.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,280 shares of the industrial products company's stock after purchasing an additional 12,390 shares during the quarter. FMR LLC owned 0.29% of Hyster-Yale Materials Handling worth $3,270,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sei Investments Co. boosted its stake in shares of Hyster-Yale Materials Handling by 24.8% in the second quarter. Sei Investments Co. now owns 44,166 shares of the industrial products company's stock valued at $3,080,000 after buying an additional 8,764 shares in the last quarter. Inspire Investing LLC boosted its stake in shares of Hyster-Yale Materials Handling by 86.8% in the third quarter. Inspire Investing LLC now owns 20,299 shares of the industrial products company's stock valued at $1,294,000 after buying an additional 9,432 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Hyster-Yale Materials Handling by 4.7% in the second quarter. The Manufacturers Life Insurance Company now owns 4,442 shares of the industrial products company's stock valued at $310,000 after buying an additional 200 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Hyster-Yale Materials Handling in the third quarter valued at approximately $866,000. Finally, Quest Partners LLC boosted its stake in shares of Hyster-Yale Materials Handling by 6,692.3% in the second quarter. Quest Partners LLC now owns 883 shares of the industrial products company's stock valued at $62,000 after buying an additional 870 shares in the last quarter. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

Hyster-Yale Materials Handling Trading Up 1.3 %

Shares of HY traded up $0.69 during trading hours on Friday, hitting $55.06. The stock had a trading volume of 113,425 shares, compared to its average volume of 91,507. The company's fifty day simple moving average is $59.67 and its 200 day simple moving average is $64.39. Hyster-Yale Materials Handling, Inc. has a 12-month low of $48.73 and a 12-month 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 firm has a market cap of $963.99 million, a P/E ratio of 6.18 and a beta of 1.25.

Hyster-Yale Materials Handling (NYSE:HY - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate 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 firm earned $2.06 earnings per share. Equities research analysts forecast that Hyster-Yale Materials Handling, Inc. will post 8.85 EPS for the current fiscal year.

Hyster-Yale Materials Handling announced that its board has initiated a stock repurchase program 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 repurchase up to 5.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

Hyster-Yale Materials Handling Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Friday, November 29th. Hyster-Yale Materials Handling's dividend payout ratio (DPR) is presently 15.71%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HY. StockNews.com cut Hyster-Yale Materials Handling from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. Roth Mkm reduced 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. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Hyster-Yale Materials Handling presently has a consensus rating of "Moderate Buy" and a consensus target price 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.