Connor Clark & Lunn Investment Management Ltd. Has $1.13 Million Holdings in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 17.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,755 shares of the industrial products company’s stock after selling 3,810 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.10% of Hyster-Yale Materials Handling worth $1,132,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Hyster-Yale Materials Handling by 296.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,397 shares of the industrial products company’s stock valued at $1,566,000 after buying an additional 18,247 shares during the last quarter. Swedbank AB acquired a new stake in Hyster-Yale Materials Handling in the 1st quarter worth approximately $5,519,000. Sei Investments Co. lifted its holdings in Hyster-Yale Materials Handling by 24.8% in the 2nd quarter. Sei Investments Co. now owns 44,166 shares of the industrial products company’s stock worth $3,080,000 after purchasing an additional 8,764 shares during the last quarter. Inspire Investing LLC lifted its holdings in Hyster-Yale Materials Handling by 86.8% in the 3rd quarter. Inspire Investing LLC now owns 20,299 shares of the industrial products company’s stock worth $1,294,000 after purchasing an additional 9,432 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Hyster-Yale Materials Handling by 4.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,442 shares of the industrial products company’s stock worth $310,000 after purchasing an additional 200 shares during the last quarter. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Hyster-Yale Materials Handling Stock Performance

Shares of NYSE HY opened at $56.14 on Thursday. The business has a fifty day simple moving average of $61.28 and a 200 day simple moving average of $66.00. The company has a current ratio of 1.36, a quick ratio of 0.61 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $983.01 million, a price-to-earnings ratio of 6.30 and a beta of 1.32. Hyster-Yale Materials Handling, Inc. has a one year low of $47.05 and a one year high of $84.44.

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 (EPS) for the quarter, missing the consensus estimate of $1.97 by ($1.00). Hyster-Yale Materials Handling had a return on equity of 34.77% and a net margin of 3.68%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the company earned $2.06 earnings per share. Sell-side analysts expect that Hyster-Yale Materials Handling, Inc. will post 8.85 EPS for the current year.

Hyster-Yale Materials Handling Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.40 annualized dividend and a yield of 2.49%. Hyster-Yale Materials Handling’s dividend payout ratio is currently 15.71%.

Hyster-Yale Materials Handling announced that its Board of Directors has approved a stock repurchase program on Monday, November 18th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the industrial products company to buy up to 5.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

HY has been the subject of several analyst reports. Roth Mkm reduced their target price on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. StockNews.com downgraded Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Northland Capmk downgraded Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Two equities research 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, the stock 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.