OP Asset Management Ltd Purchases New Stake in Hyster-Yale, Inc. $HY

OP Asset Management Ltd purchased a new stake in shares of Hyster-Yale, Inc. (NYSE:HY) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 56,379 shares of the industrial products company’s stock, valued at approximately $1,833,000.

Several other institutional investors have also recently bought and sold shares of HY. Amundi grew its holdings in shares of Hyster-Yale by 3.8% during the fourth quarter. Amundi now owns 9,013 shares of the industrial products company’s stock valued at $268,000 after buying an additional 334 shares during the last quarter. Legal & General Group Plc increased its position in shares of Hyster-Yale by 7.6% during the second quarter. Legal & General Group Plc now owns 9,284 shares of the industrial products company’s stock worth $369,000 after acquiring an additional 654 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Hyster-Yale by 19.2% in the 3rd quarter. Intech Investment Management LLC now owns 6,443 shares of the industrial products company’s stock worth $237,000 after acquiring an additional 1,036 shares during the last quarter. Mcdonald Partners LLC raised its holdings in shares of Hyster-Yale by 2.4% in the 3rd quarter. Mcdonald Partners LLC now owns 46,545 shares of the industrial products company’s stock worth $1,716,000 after acquiring an additional 1,076 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Hyster-Yale by 7.0% in the 2nd quarter. Rhumbline Advisers now owns 18,430 shares of the industrial products company’s stock valued at $733,000 after acquiring an additional 1,206 shares in the last quarter. Institutional investors and hedge funds own 46.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Weiss Ratings lowered Hyster-Yale from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Northland Securities upgraded Hyster-Yale from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a report on Monday, March 2nd. Wall Street Zen raised Hyster-Yale from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Zacks Research upgraded Hyster-Yale from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $45.00.

Hyster-Yale Stock Performance

NYSE:HY opened at $35.91 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 0.67. The business has a fifty day simple moving average of $36.56 and a two-hundred day simple moving average of $34.83. Hyster-Yale, Inc. has a 1 year low of $26.41 and a 1 year high of $44.55. The company has a market capitalization of $643.51 million, a P/E ratio of -6.42 and a beta of 1.61.

Hyster-Yale (NYSE:HY) last issued its earnings results on Tuesday, May 5th. The industrial products company reported ($1.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.02) by $0.38. The firm had revenue of $795.20 million for the quarter, compared to analyst estimates of $878.10 million. Hyster-Yale had a negative return on equity of 13.96% and a negative net margin of 2.71%. On average, analysts expect that Hyster-Yale, Inc. will post -2.75 earnings per share for the current year.

Hyster-Yale Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 1st were issued a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a yield of 4.1%. This is a boost from Hyster-Yale’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Monday, June 1st. Hyster-Yale’s payout ratio is currently -26.12%.

About Hyster-Yale

Hyster-Yale Materials Handling, Inc is a global manufacturer and distributor of a wide range of industrial lift trucks, container handlers and aftermarket parts and services. Operating under the Hyster and Yale brand names, the company designs, engineers and assembles counterbalanced lift trucks, narrow-aisle trucks and specialty vehicles for clients in distribution, manufacturing, retail and warehousing.

The company’s product portfolio includes electric, diesel and LPG-powered forklifts, as well as reach stackers, empty container handlers and terminal tractors.