Hyster-Yale Materials Handling, Inc. (NYSE:HY) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC cut its holdings in Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 15.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,260 shares of the industrial products company’s stock after selling 23,957 shares during the period. ProShare Advisors LLC owned about 0.77% of Hyster-Yale Materials Handling worth $8,615,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Hyster-Yale Materials Handling by 1.4% during the third quarter. Vanguard Group Inc. now owns 945,578 shares of the industrial products company’s stock worth $42,154,000 after purchasing an additional 12,747 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Hyster-Yale Materials Handling by 29.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 287,698 shares of the industrial products company’s stock valued at $18,462,000 after buying an additional 65,708 shares during the last quarter. Federated Hermes Inc. raised its stake in Hyster-Yale Materials Handling by 38.8% during the 4th quarter. Federated Hermes Inc. now owns 131,538 shares of the industrial products company’s stock worth $8,180,000 after acquiring an additional 36,758 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Hyster-Yale Materials Handling by 86.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 124,733 shares of the industrial products company’s stock valued at $7,757,000 after acquiring an additional 57,758 shares during the last quarter. Finally, Hillsdale Investment Management Inc. boosted its stake in Hyster-Yale Materials Handling by 92,150.0% in the fourth quarter. Hillsdale Investment Management Inc. now owns 92,250 shares of the industrial products company’s stock valued at $5,737,000 after acquiring an additional 92,150 shares in the last quarter. 46.47% of the stock is owned by hedge funds and other institutional investors.

Hyster-Yale Materials Handling Stock Performance

Shares of HY traded down $1.14 during mid-day trading on Wednesday, hitting $73.34. 61,374 shares of the company’s stock were exchanged, compared to its average volume of 100,131. Hyster-Yale Materials Handling, Inc. has a fifty-two week low of $38.50 and a fifty-two week high of $79.66. The business’s 50 day moving average is $72.27 and its two-hundred day moving average is $66.47. The company has a current ratio of 1.25, a quick ratio of 0.56 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $1.28 billion, a P/E ratio of 8.50 and a beta of 1.35.

Hyster-Yale Materials Handling (NYSE:HY) last released its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.14 by $0.79. Hyster-Yale Materials Handling had a return on equity of 42.94% and a net margin of 3.61%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.03 billion. On average, equities analysts expect that Hyster-Yale Materials Handling, Inc. will post 8.3 earnings per share for the current year.

Hyster-Yale Materials Handling Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, May 31st. This is a boost from Hyster-Yale Materials Handling’s previous quarterly dividend of $0.33. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is 16.22%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Northland Securities raised Hyster-Yale Materials Handling from a “market perform” rating to an “outperform” rating and set a $90.00 target price for the company in a report on Wednesday, June 5th. Roth Mkm reiterated a “buy” rating and issued a $87.00 price objective on shares of Hyster-Yale Materials Handling in a research note on Friday, June 7th. Finally, Northland Capmk raised Hyster-Yale Materials Handling from a “hold” rating to a “strong-buy” rating in a report on Wednesday, June 5th. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Hyster-Yale Materials Handling has a consensus rating of “Buy” and a consensus price target of $88.50.

Hyster-Yale Materials Handling Profile

Hyster-Yale Materials Handling, 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.