Lazard Asset Management LLC Has $4.46 Million Stock Position in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Lazard Asset Management LLC raised its position in Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 2,033.6% in the 1st quarter, HoldingsChannel reports. The fund owned 69,449 shares of the industrial products company’s stock after purchasing an additional 66,194 shares during the period. Lazard Asset Management LLC’s holdings in Hyster-Yale Materials Handling were worth $4,456,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. grew its position in Hyster-Yale Materials Handling by 92,150.0% during the 4th quarter. Hillsdale Investment Management Inc. now owns 92,250 shares of the industrial products company’s stock worth $5,737,000 after acquiring an additional 92,150 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake 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 period. Acadian Asset Management LLC increased its stake in shares of Hyster-Yale Materials Handling by 77.2% in the 1st quarter. Acadian Asset Management LLC now owns 134,959 shares of the industrial products company’s stock valued at $8,656,000 after buying an additional 58,814 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Hyster-Yale Materials Handling by 86.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 124,733 shares of the industrial products company’s stock valued at $7,757,000 after buying an additional 57,758 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of Hyster-Yale Materials Handling by 38.8% in the 4th quarter. Federated Hermes Inc. now owns 131,538 shares of the industrial products company’s stock valued at $8,180,000 after buying an additional 36,758 shares during the period. Institutional investors and hedge funds own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Trading Up 2.1 %

HY stock traded up $1.63 during midday trading on Monday, hitting $79.77. 11,306 shares of the company’s stock were exchanged, compared to its average volume of 98,638. The stock’s fifty day moving average price is $72.11 and its 200-day moving average price is $67.10. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.56 and a current ratio of 1.25. The company has a market cap of $1.40 billion, a PE ratio of 9.05 and a beta of 1.35. Hyster-Yale Materials Handling, Inc. has a one year low of $38.50 and a one year high of $81.41.

Hyster-Yale Materials Handling (NYSE:HY) last posted its earnings results on Tuesday, May 7th. The industrial products company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.79. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. Hyster-Yale Materials Handling had a return on equity of 42.94% and a net margin of 3.61%. Research analysts predict that Hyster-Yale Materials Handling, Inc. will post 8.3 earnings per share for the current fiscal year.

Hyster-Yale Materials Handling Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, May 31st. This is a positive change from Hyster-Yale Materials Handling’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 1.76%. Hyster-Yale Materials Handling’s payout ratio is currently 16.22%.

Analysts Set New Price Targets

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

About Hyster-Yale Materials Handling

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.