Curbstone Financial Management Corp Sells 2,126 Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Curbstone Financial Management Corp lowered its position in Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,490 shares of the industrial products company’s stock after selling 2,126 shares during the period. Curbstone Financial Management Corp owned about 0.42% of Hyster-Yale Materials Handling worth $3,743,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in HY. The Manufacturers Life Insurance Company increased its position in shares of Hyster-Yale Materials Handling by 4.7% during the second quarter. The Manufacturers Life Insurance Company now owns 4,442 shares of the industrial products company’s stock worth $310,000 after acquiring an additional 200 shares in the last quarter. AQR Capital Management LLC increased its holdings in Hyster-Yale Materials Handling by 0.5% during the 2nd quarter. AQR Capital Management LLC now owns 76,587 shares of the industrial products company’s stock worth $5,340,000 after purchasing an additional 363 shares in the last quarter. Covestor Ltd raised its stake in shares of Hyster-Yale Materials Handling by 21,350.0% in the 3rd quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 427 shares during the period. Pinpoint Asset Management Ltd bought a new stake in shares of Hyster-Yale Materials Handling in the third quarter valued at about $32,000. Finally, Millennium Management LLC boosted its position in shares of Hyster-Yale Materials Handling by 1.5% during the second quarter. Millennium Management LLC now owns 48,064 shares of the industrial products company’s stock worth $3,352,000 after buying an additional 713 shares during the period. Institutional investors and hedge funds own 46.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on HY. StockNews.com cut Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Roth Mkm decreased their target price on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Two 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 presently has a consensus rating of “Moderate Buy” and an average price target of $80.00.

Hyster-Yale Materials Handling Price Performance

NYSE:HY opened at $54.28 on Tuesday. The company has a quick ratio of 0.61, a current ratio of 1.36 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $950.37 million, a price-to-earnings ratio of 6.09 and a beta of 1.27. Hyster-Yale Materials Handling, Inc. has a 12-month low of $48.73 and a 12-month high of $84.44. The stock’s 50 day moving average price is $53.26 and its two-hundred day moving average price is $60.23.

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

Hyster-Yale Materials Handling Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a dividend of $0.35 per share. The ex-dividend date was Friday, November 29th. This represents a $1.40 annualized dividend and a yield of 2.58%. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is presently 15.71%.

Hyster-Yale Materials Handling declared that its board has authorized a stock repurchase program on Monday, November 18th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 5.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.