Vontobel Holding Ltd. Sells 7,609 Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Vontobel Holding Ltd. lessened its holdings in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY - Free Report) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,072 shares of the industrial products company's stock after selling 7,609 shares during the quarter. Vontobel Holding Ltd. owned approximately 0.46% of Hyster-Yale Materials Handling worth $4,129,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC bought a new position in Hyster-Yale Materials Handling in the fourth quarter worth $1,243,000. Principal Financial Group Inc. bought a new position in Hyster-Yale Materials Handling in the third quarter worth $582,000. Franklin Resources Inc. raised its holdings in Hyster-Yale Materials Handling by 4.7% in the third quarter. Franklin Resources Inc. now owns 18,680 shares of the industrial products company's stock worth $1,260,000 after purchasing an additional 845 shares in the last quarter. Barclays PLC raised its holdings in Hyster-Yale Materials Handling by 19.0% in the third quarter. Barclays PLC now owns 26,492 shares of the industrial products company's stock worth $1,690,000 after purchasing an additional 4,226 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Hyster-Yale Materials Handling by 0.7% in the third quarter. Geode Capital Management LLC now owns 255,870 shares of the industrial products company's stock worth $16,320,000 after purchasing an additional 1,658 shares in the last quarter. Institutional investors own 46.47% of the company's stock.

Hyster-Yale Materials Handling Stock Down 1.6 %

Shares of NYSE HY traded down $0.86 during trading on Thursday, reaching $53.49. The company had a trading volume of 44,438 shares, compared to its average volume of 65,531. Hyster-Yale Materials Handling, Inc. has a 12-month low of $48.73 and a 12-month high of $84.44. The stock has a market cap of $936.57 million, a PE ratio of 6.00 and a beta of 1.26. The business's 50-day moving average is $52.18 and its 200 day moving average is $57.56. The company has a quick ratio of 0.61, a current ratio of 1.36 and a debt-to-equity ratio of 0.46.

Hyster-Yale Materials Handling announced that its board has approved a stock repurchase plan 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 purchase up to 5.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its stock is undervalued.

Hyster-Yale Materials Handling Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.62%. Hyster-Yale Materials Handling's dividend payout ratio is currently 15.71%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HY shares. StockNews.com downgraded Hyster-Yale Materials Handling from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. Roth Mkm cut their target price on 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. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.