Isthmus Partners LLC Cuts Holdings in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Isthmus Partners LLC trimmed its holdings in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 18.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 46,946 shares of the industrial products company’s stock after selling 10,360 shares during the quarter. Isthmus Partners LLC’s holdings in Hyster-Yale Materials Handling were worth $2,994,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in HY. American Century Companies Inc. boosted its stake in Hyster-Yale Materials Handling by 149.8% during 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 purchasing an additional 90,696 shares during the last quarter. Swedbank AB purchased a new stake in Hyster-Yale Materials Handling during the 1st quarter valued at $5,519,000. Acadian Asset Management LLC boosted its stake in Hyster-Yale Materials Handling by 63.7% during the 2nd quarter. Acadian Asset Management LLC now owns 220,865 shares of the industrial products company’s stock valued at $15,390,000 after purchasing an additional 85,906 shares during the last quarter. Foundry Partners LLC purchased a new stake in Hyster-Yale Materials Handling during the 2nd quarter valued at $5,046,000. Finally, SG Americas Securities LLC purchased a new stake in Hyster-Yale Materials Handling during the 3rd quarter valued at $2,309,000. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HY. Roth Mkm dropped their price target 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. Northland Capmk downgraded Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, StockNews.com downgraded Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $80.00.

Hyster-Yale Materials Handling Price Performance

NYSE HY opened at $56.22 on Friday. The company has a market capitalization of $984.41 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 business’s fifty day moving average is $61.15 and its 200 day moving average is $65.93. Hyster-Yale Materials Handling, Inc. has a fifty-two week low of $47.05 and a fifty-two week high of $84.44.

Hyster-Yale Materials Handling (NYSE:HY) last released its earnings results on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.97 by ($1.00). The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Hyster-Yale Materials Handling had a net margin of 3.68% and a return on equity of 34.77%. During the same quarter last year, the firm posted $2.06 earnings per share. Sell-side analysts predict that Hyster-Yale Materials Handling, Inc. will post 8.85 earnings per share for the current year.

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

Hyster-Yale Materials Handling Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 dividend on an annualized basis and a yield of 2.49%. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is presently 15.71%.

Hyster-Yale Materials Handling 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.