Fisher Asset Management LLC Sells 1,719 Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Fisher Asset Management LLC lessened its stake in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 5.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,225 shares of the industrial products company’s stock after selling 1,719 shares during the period. Fisher Asset Management LLC’s holdings in Hyster-Yale Materials Handling were worth $2,055,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HY. Acadian Asset Management LLC increased its position in shares of Hyster-Yale Materials Handling by 63.7% in the second quarter. Acadian Asset Management LLC now owns 220,865 shares of the industrial products company’s stock worth $15,390,000 after purchasing an additional 85,906 shares during the period. American Century Companies Inc. increased its holdings in Hyster-Yale Materials Handling by 149.8% in the 2nd quarter. American Century Companies Inc. now owns 151,241 shares of the industrial products company’s stock valued at $10,546,000 after buying an additional 90,696 shares during the period. Bank of New York Mellon Corp raised its position in shares of Hyster-Yale Materials Handling by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 115,550 shares of the industrial products company’s stock valued at $8,057,000 after buying an additional 2,619 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Hyster-Yale Materials Handling by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 115,159 shares of the industrial products company’s stock worth $7,344,000 after acquiring an additional 4,296 shares during the period. Finally, Swedbank AB acquired a new stake in shares of Hyster-Yale Materials Handling during the 1st quarter worth approximately $5,519,000. 46.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on HY. StockNews.com cut Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Northland Capmk downgraded Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Roth Mkm decreased 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 report 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

Hyster-Yale Materials Handling Stock Up 0.7 %

Shares of NYSE:HY opened at $56.24 on Friday. Hyster-Yale Materials Handling, Inc. has a 52-week low of $47.05 and a 52-week high of $84.44. The company has a market capitalization of $984.76 million, a PE ratio of 6.31 and a beta of 1.32. 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 has a fifty day moving average of $61.04 and a 200-day moving average of $65.81.

Hyster-Yale Materials Handling (NYSE:HY) 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). Hyster-Yale Materials Handling had a return on equity of 34.77% and a net margin of 3.68%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the company earned $2.06 EPS. On average, equities analysts predict 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 announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.40 annualized dividend and a yield of 2.49%. Hyster-Yale Materials Handling’s dividend payout ratio is presently 15.71%.

Hyster-Yale Materials Handling declared that its Board of Directors has initiated a stock buyback plan on Monday, November 18th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the industrial products company to purchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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.