Swedbank AB Sells 18,203 Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Swedbank AB cut its holdings in Hyster-Yale Materials Handling, Inc. (NYSE:HY - Free Report) by 24.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,708 shares of the industrial products company's stock after selling 18,203 shares during the period. Swedbank AB owned about 0.32% of Hyster-Yale Materials Handling worth $3,552,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HY. Charles Schwab Investment Management Inc. increased its holdings in Hyster-Yale Materials Handling by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 115,159 shares of the industrial products company's stock worth $7,344,000 after buying an additional 4,296 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Hyster-Yale Materials Handling in the third quarter valued at approximately $231,000. Foundry Partners LLC grew its holdings in Hyster-Yale Materials Handling by 1.6% during the third quarter. Foundry Partners LLC now owns 73,525 shares of the industrial products company's stock valued at $4,689,000 after purchasing an additional 1,162 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in Hyster-Yale Materials Handling in the third quarter worth $1,910,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Hyster-Yale Materials Handling by 9.0% in the third quarter. PNC Financial Services Group Inc. now owns 23,289 shares of the industrial products company's stock valued at $1,485,000 after buying an additional 1,914 shares during the period. 46.47% of the stock is owned by hedge funds and other institutional investors.

Hyster-Yale Materials Handling Price Performance

Shares of NYSE HY traded down $0.61 during midday trading on Thursday, hitting $56.22. 56,318 shares of the company's stock were exchanged, compared to its average volume of 92,070. Hyster-Yale Materials Handling, Inc. has a 12-month low of $47.05 and a 12-month high of $84.44. The company has a market cap of $984.30 million, a price-to-earnings ratio of 6.30 and a beta of 1.32. The company has a current ratio of 1.36, a quick ratio of 0.61 and a debt-to-equity ratio of 0.46. The business's fifty day moving average price is $61.28 and its two-hundred day moving average price is $66.00.

Hyster-Yale Materials Handling (NYSE:HY - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.97 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the company earned $2.06 EPS. As a group, research analysts forecast that Hyster-Yale Materials Handling, Inc. will post 8.85 EPS for the current fiscal year.

Hyster-Yale Materials Handling Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.49%. Hyster-Yale Materials Handling's dividend payout ratio is currently 15.71%.

Hyster-Yale Materials Handling announced that its board has authorized a stock repurchase plan on Monday, November 18th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 5.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

HY has been the topic of several recent research reports. Northland Capmk downgraded shares of Hyster-Yale Materials Handling from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 7th. StockNews.com lowered Hyster-Yale Materials Handling from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. Finally, Roth Mkm cut 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 report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to 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 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.