Foundry Partners LLC Increases Position in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Foundry Partners LLC lifted its stake in Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 1.6% during the third quarter, HoldingsChannel reports. The firm owned 73,525 shares of the industrial products company’s stock after purchasing an additional 1,162 shares during the period. Foundry Partners LLC’s holdings in Hyster-Yale Materials Handling were worth $4,689,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in HY. CWM LLC increased its position in Hyster-Yale Materials Handling by 0.5% during the 2nd quarter. CWM LLC now owns 41,992 shares of the industrial products company’s stock valued at $2,928,000 after purchasing an additional 192 shares during the period. The Manufacturers Life Insurance Company raised its stake in Hyster-Yale Materials Handling by 4.7% in the second quarter. The Manufacturers Life Insurance Company now owns 4,442 shares of the industrial products company’s stock worth $310,000 after buying an additional 200 shares in the last quarter. Summit Global Investments lifted its holdings in Hyster-Yale Materials Handling by 2.4% during the second quarter. Summit Global Investments now owns 10,334 shares of the industrial products company’s stock worth $721,000 after buying an additional 240 shares during the period. Mcdonald Partners LLC boosted its position in Hyster-Yale Materials Handling by 0.9% during the 2nd quarter. Mcdonald Partners LLC now owns 40,256 shares of the industrial products company’s stock valued at $2,807,000 after acquiring an additional 352 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Hyster-Yale Materials Handling by 0.5% in the second quarter. AQR Capital Management LLC now owns 76,587 shares of the industrial products company’s stock valued at $5,340,000 after purchasing an additional 363 shares during the last quarter. 46.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on HY shares. Roth Mkm reduced 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 report 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, StockNews.com downgraded Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Hyster-Yale Materials Handling has a consensus rating of “Moderate Buy” and an average target price of $80.00.

Hyster-Yale Materials Handling Trading Up 2.2 %

Shares of Hyster-Yale Materials Handling stock opened at $55.42 on Friday. The stock has a market cap of $970.40 million, a PE ratio of 6.09 and a beta of 1.32. The firm has a fifty day moving average price of $61.59 and a 200 day moving average price of $66.46. Hyster-Yale Materials Handling, Inc. has a 1 year low of $46.82 and a 1 year high of $84.44. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.61.

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

Hyster-Yale Materials Handling Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Friday, November 29th. Hyster-Yale Materials Handling’s dividend payout ratio is currently 15.71%.

Hyster-Yale Materials Handling declared that its board has authorized a share repurchase plan on Monday, November 18th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the industrial products company to buy up to 5.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Hyster-Yale Materials Handling 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.