Brightline Capital Management LLC Invests $1.53 Million in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Brightline Capital Management LLC acquired a new stake in Hyster-Yale Materials Handling, Inc. (NYSE:HY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 30,000 shares of the industrial products company’s stock, valued at approximately $1,528,000. Hyster-Yale Materials Handling makes up about 1.2% of Brightline Capital Management LLC’s investment portfolio, making the stock its 13th largest position. Brightline Capital Management LLC owned 0.17% of Hyster-Yale Materials Handling at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its holdings in Hyster-Yale Materials Handling by 421.8% in the 4th quarter. Meeder Asset Management Inc. now owns 741 shares of the industrial products company’s stock valued at $38,000 after buying an additional 599 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Hyster-Yale Materials Handling in the 4th quarter worth approximately $76,000. US Bancorp DE boosted its position in shares of Hyster-Yale Materials Handling by 29.1% during the 4th quarter. US Bancorp DE now owns 1,726 shares of the industrial products company’s stock worth $88,000 after purchasing an additional 389 shares during the period. Quantbot Technologies LP increased its holdings in Hyster-Yale Materials Handling by 1,613.2% in the 4th quarter. Quantbot Technologies LP now owns 3,238 shares of the industrial products company’s stock valued at $165,000 after purchasing an additional 3,049 shares during the last quarter. Finally, Amundi raised its position in Hyster-Yale Materials Handling by 111.6% in the fourth quarter. Amundi now owns 4,400 shares of the industrial products company’s stock valued at $221,000 after purchasing an additional 2,321 shares during the period. Institutional investors and hedge funds own 46.47% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Friday, March 7th.

Hyster-Yale Materials Handling Stock Performance

Shares of HY stock opened at $37.96 on Friday. 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 12-month low of $34.13 and a 12-month high of $84.44. The company has a market cap of $671.78 million, a price-to-earnings ratio of 4.26 and a beta of 1.32. The stock has a 50 day simple moving average of $46.05 and a 200-day simple moving average of $53.11.

Hyster-Yale Materials Handling Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date was Friday, February 28th. Hyster-Yale Materials Handling’s dividend payout ratio is presently 17.37%.

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.