Hyster-Yale Materials Handling, Inc. (NYSE:HY) Holdings Raised by Zacks Investment Management

Zacks Investment Management grew its holdings in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY - Free Report) by 117.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,063 shares of the industrial products company's stock after acquiring an additional 17,347 shares during the period. Zacks Investment Management owned about 0.18% of Hyster-Yale Materials Handling worth $2,045,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Pinpoint Asset Management Ltd bought a new stake in shares of Hyster-Yale Materials Handling in the third quarter worth $32,000. Centiva Capital LP increased its holdings in Hyster-Yale Materials Handling by 48.1% in the third quarter. Centiva Capital LP now owns 5,434 shares of the industrial products company's stock valued at $347,000 after buying an additional 1,766 shares during the last quarter. Verition Fund Management LLC raised its stake in Hyster-Yale Materials Handling by 36.1% during the third quarter. Verition Fund Management LLC now owns 6,668 shares of the industrial products company's stock valued at $425,000 after buying an additional 1,769 shares in the last quarter. Martingale Asset Management L P bought a new position in Hyster-Yale Materials Handling during the 3rd quarter worth approximately $675,000. Finally, De Lisle Partners LLP grew its position in shares of Hyster-Yale Materials Handling by 23.4% in the 3rd quarter. De Lisle Partners LLP now owns 40,241 shares of the industrial products company's stock worth $2,564,000 after acquiring an additional 7,642 shares in the last quarter. 46.47% of the stock is owned by hedge funds and other institutional investors.

Hyster-Yale Materials Handling Stock Performance

Shares of Hyster-Yale Materials Handling stock traded down $0.31 on Tuesday, reaching $55.20. 58,831 shares of the company were exchanged, compared to its average volume of 91,319. The firm has a market cap 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 1-year low of $48.73 and a 1-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 company's 50-day moving average is $60.18 and its two-hundred day moving average is $64.74.

Hyster-Yale Materials Handling (NYSE:HY - Get Free Report) last issued its earnings results 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 company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.06 billion. Hyster-Yale Materials Handling had a return on equity of 34.77% and a net margin of 3.68%. During the same period in the prior year, the business earned $2.06 earnings per share. As a group, research analysts expect that Hyster-Yale Materials Handling, Inc. will post 8.85 earnings per share for the current fiscal year.

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 dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Friday, November 29th. Hyster-Yale Materials Handling's payout ratio is 15.71%.

Hyster-Yale Materials Handling announced that its board 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 stock through open market purchases. Stock repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

HY has been the topic of several research reports. StockNews.com lowered Hyster-Yale Materials Handling from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Roth Mkm dropped their target price on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $80.00.

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.