Bastion Asset Management Inc. Acquires New Position in Hyster-Yale, Inc. $HY

Bastion Asset Management Inc. acquired a new stake in shares of Hyster-Yale, Inc. (NYSE:HY) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 25,186 shares of the industrial products company’s stock, valued at approximately $1,014,000.

Other hedge funds also recently made changes to their positions in the company. Keybank National Association OH increased its holdings in shares of Hyster-Yale by 89.1% in the 2nd quarter. Keybank National Association OH now owns 34,766 shares of the industrial products company’s stock valued at $1,383,000 after acquiring an additional 16,380 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Hyster-Yale in the second quarter worth $981,000. AlphaQuest LLC increased its stake in Hyster-Yale by 23.3% during the second quarter. AlphaQuest LLC now owns 19,201 shares of the industrial products company’s stock valued at $764,000 after purchasing an additional 3,629 shares during the last quarter. Dumont & Blake Investment Advisors LLC raised its holdings in shares of Hyster-Yale by 18.4% during the second quarter. Dumont & Blake Investment Advisors LLC now owns 15,621 shares of the industrial products company’s stock worth $621,000 after purchasing an additional 2,432 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Hyster-Yale during the second quarter worth $752,000. Institutional investors and hedge funds own 46.47% of the company’s stock.

Hyster-Yale Stock Performance

Shares of HY opened at $34.59 on Friday. The firm has a fifty day moving average of $36.38 and a 200-day moving average of $38.91. The company has a market cap of $613.02 million, a price-to-earnings ratio of 27.90 and a beta of 1.57. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.65 and a current ratio of 1.40. Hyster-Yale, Inc. has a 1 year low of $31.06 and a 1 year high of $58.72.

Hyster-Yale (NYSE:HY) last issued its quarterly earnings data on Tuesday, November 4th. The industrial products company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.12). The firm had revenue of $979.10 million during the quarter, compared to the consensus estimate of $955.69 million. Hyster-Yale had a net margin of 0.56% and a return on equity of 9.57%. As a group, equities analysts anticipate that Hyster-Yale, Inc. will post 8.85 earnings per share for the current year.

Hyster-Yale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th were given a dividend of $0.36 per share. The ex-dividend date was Friday, August 29th. This represents a $1.44 annualized dividend and a dividend yield of 4.2%. Hyster-Yale’s payout ratio is currently 1,028.57%.

Analysts Set New Price Targets

Several research firms have recently commented on HY. Zacks Research raised shares of Hyster-Yale from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Roth Capital set a $40.00 target price on shares of Hyster-Yale in a report on Thursday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Hyster-Yale in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $40.00.

Hyster-Yale 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.