Hunter Associates Investment Management LLC Sells 17,000 Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Hunter Associates Investment Management LLC cut its stake in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 74.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,800 shares of the industrial products company’s stock after selling 17,000 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Hyster-Yale Materials Handling were worth $296,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Covestor Ltd grew its holdings in shares of Hyster-Yale Materials Handling by 21,350.0% during 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 last quarter. Pinpoint Asset Management Ltd bought a new stake in shares of Hyster-Yale Materials Handling during the 3rd quarter valued at approximately $32,000. Quest Partners LLC grew its holdings in Hyster-Yale Materials Handling by 189.0% during the 3rd quarter. Quest Partners LLC now owns 2,552 shares of the industrial products company’s stock worth $163,000 after acquiring an additional 1,669 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Hyster-Yale Materials Handling during the 3rd quarter worth approximately $231,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Hyster-Yale Materials Handling by 4.7% during the 2nd 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 during the last quarter. 46.47% of the stock is owned by institutional investors.

Hyster-Yale Materials Handling Trading Down 1.6 %

NYSE:HY opened at $53.33 on Friday. The firm’s fifty day moving average is $53.11 and its 200-day moving average is $59.82. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.61 and a current ratio of 1.36. Hyster-Yale Materials Handling, Inc. has a 52 week low of $48.73 and a 52 week high of $84.44. The firm has a market cap of $933.81 million, a P/E ratio of 5.99 and a beta of 1.27.

Hyster-Yale Materials Handling (NYSE:HY) last posted 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). Hyster-Yale Materials Handling had a net margin of 3.68% and a return on equity of 34.77%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the company posted $2.06 earnings per share. Equities analysts expect that Hyster-Yale Materials Handling, Inc. will post 8.85 earnings per share for the current year.

Hyster-Yale Materials Handling declared that its board has initiated a share buyback plan on Monday, November 18th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 5.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Hyster-Yale Materials Handling Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend was Friday, November 29th. Hyster-Yale Materials Handling’s dividend payout ratio is currently 15.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. StockNews.com lowered shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Roth Mkm reduced their target price on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.00.

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.