Principal Financial Group Inc. Invests $582,000 in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Principal Financial Group Inc. purchased a new position in Hyster-Yale Materials Handling, Inc. (NYSE:HY - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 9,120 shares of the industrial products company's stock, valued at approximately $582,000. Principal Financial Group Inc. owned approximately 0.05% of Hyster-Yale Materials Handling at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. EntryPoint Capital LLC purchased a new stake in shares of Hyster-Yale Materials Handling in the 1st quarter valued at approximately $27,000. Quest Partners LLC grew its position in Hyster-Yale Materials Handling by 6,692.3% during the second quarter. Quest Partners LLC now owns 883 shares of the industrial products company's stock valued at $62,000 after purchasing an additional 870 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Hyster-Yale Materials Handling in the 2nd quarter worth approximately $67,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Hyster-Yale Materials Handling by 67.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,356 shares of the industrial products company's stock valued at $83,000 after buying an additional 548 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Hyster-Yale Materials Handling during the 2nd quarter valued at $194,000. 46.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on HY shares. StockNews.com cut shares of Hyster-Yale Materials Handling from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. Roth Mkm reduced their price objective on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Finally, Northland Capmk downgraded shares of Hyster-Yale Materials Handling from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Hyster-Yale Materials Handling presently has a consensus rating of "Moderate Buy" and a consensus price target of $80.00.

Hyster-Yale Materials Handling Price Performance

Shares of NYSE:HY traded up $0.60 during midday trading on Monday, reaching $57.39. 60,503 shares of the company's stock were exchanged, compared to its average volume of 92,252. 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 simple moving average is $61.49 and its two-hundred day simple moving average is $66.37. Hyster-Yale Materials Handling, Inc. has a 12 month low of $47.05 and a 12 month high of $84.44. The firm has a market capitalization of $1.00 billion, a PE ratio of 6.37 and a beta of 1.32.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 previous year, the company posted $2.06 earnings per share. Equities 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 announced that its Board of Directors has approved 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 buy up to 5.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Hyster-Yale Materials Handling Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Friday, November 29th. Hyster-Yale Materials Handling's payout ratio is 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.