JPMorgan Chase & Co. Sells 13,249 Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY)

JPMorgan Chase & Co. decreased its position in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY - Free Report) by 35.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,816 shares of the industrial products company's stock after selling 13,249 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.14% of Hyster-Yale Materials Handling worth $1,519,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC raised its stake in shares of Hyster-Yale Materials Handling by 19.0% during the 3rd quarter. Barclays PLC now owns 26,492 shares of the industrial products company's stock worth $1,690,000 after buying an additional 4,226 shares during the last quarter. FMR LLC grew its stake in shares of 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 valued at $3,270,000 after buying an additional 12,390 shares in the last quarter. Sei Investments Co. boosted its position in Hyster-Yale Materials Handling by 24.8% in the 2nd 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 during the last quarter. Inspire Investing LLC raised its position in shares of Hyster-Yale Materials Handling by 86.8% in the 3rd quarter. Inspire Investing LLC now owns 20,299 shares of the industrial products company's stock valued at $1,294,000 after purchasing an additional 9,432 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Hyster-Yale Materials Handling by 4.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,442 shares of the industrial products company's stock worth $310,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 46.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Roth Mkm dropped their price objective on shares of 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 downgraded Hyster-Yale Materials Handling from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $80.00.

Hyster-Yale Materials Handling Trading Down 0.6 %

Shares of NYSE HY traded down $0.32 during trading hours on Friday, reaching $53.38. The stock had a trading volume of 34,873 shares, compared to its average volume of 79,118. The business's fifty day moving average price is $53.26 and its two-hundred day moving average price is $60.31. The company has a current ratio of 1.36, a quick ratio of 0.61 and a debt-to-equity ratio of 0.46. Hyster-Yale Materials Handling, Inc. has a 52-week low of $48.73 and a 52-week high of $84.44. The firm has a market cap of $934.68 million, a price-to-earnings ratio of 5.99 and a beta of 1.27.

Hyster-Yale Materials Handling (NYSE:HY - Get Free Report) last announced 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). Hyster-Yale Materials Handling had a return on equity of 34.77% and a net margin of 3.68%. The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the previous year, the company earned $2.06 earnings per share. Analysts expect that Hyster-Yale Materials Handling, Inc. will post 8.85 EPS for the current fiscal year.

Hyster-Yale Materials Handling Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.62%. The ex-dividend date was Friday, November 29th. Hyster-Yale Materials Handling's dividend payout ratio (DPR) is 15.71%.

Hyster-Yale Materials Handling announced that its Board of Directors has initiated a stock repurchase plan on Monday, November 18th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 5.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

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.