Jacobs Levy Equity Management Inc. Cuts Stake in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Jacobs Levy Equity Management Inc. cut its stake in Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 4.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,082 shares of the industrial products company’s stock after selling 5,705 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.68% of Hyster-Yale Materials Handling worth $7,594,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Covestor Ltd grew its holdings in shares of Hyster-Yale Materials Handling by 21,350.0% during the third quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock worth $27,000 after buying an additional 427 shares in the last quarter. Quest Partners LLC grew its stake in Hyster-Yale Materials Handling by 6,692.3% during the 2nd quarter. Quest Partners LLC now owns 883 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 870 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Hyster-Yale Materials Handling in the 2nd quarter valued at about $67,000. DekaBank Deutsche Girozentrale lifted its stake in Hyster-Yale Materials Handling by 67.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,356 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 548 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Hyster-Yale Materials Handling during the 2nd quarter worth approximately $194,000. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Hyster-Yale Materials Handling Trading Down 4.4 %

HY opened at $55.88 on Friday. The stock has a market capitalization of $978.35 million, a PE ratio of 6.27 and a beta of 1.25. Hyster-Yale Materials Handling, Inc. has a one year low of $48.73 and a one year high of $84.44. 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 50 day moving average price is $60.67 and its 200 day moving average price is $65.29.

Hyster-Yale Materials Handling (NYSE:HY) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.97 by ($1.00). The business had revenue of $1.02 billion during the quarter, compared to analyst estimates 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 period last year, the company earned $2.06 EPS. As a group, equities research analysts expect that Hyster-Yale Materials Handling, Inc. will post 8.85 EPS for the current year.

Hyster-Yale Materials Handling declared that its board has approved a stock repurchase program on Monday, November 18th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the industrial products company to purchase up to 5.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Hyster-Yale Materials Handling Announces Dividend

The business also recently declared 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Friday, November 29th. Hyster-Yale Materials Handling’s dividend payout ratio is presently 15.71%.

Analyst Ratings Changes

HY has been the subject of several recent research reports. Roth Mkm cut their price target on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. StockNews.com lowered Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.00.

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.