Covestor Ltd Purchases 427 Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Covestor Ltd boosted its position in Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 21,350.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 429 shares of the industrial products company’s stock after acquiring an additional 427 shares during the quarter. Covestor Ltd’s holdings in Hyster-Yale Materials Handling were worth $27,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in HY. Janney Montgomery Scott LLC boosted its position in Hyster-Yale Materials Handling by 5.1% in the first quarter. Janney Montgomery Scott LLC now owns 8,070 shares of the industrial products company’s stock valued at $518,000 after buying an additional 395 shares in the last quarter. Sei Investments Co. boosted its position in Hyster-Yale Materials Handling by 106.9% in the first quarter. Sei Investments Co. now owns 35,402 shares of the industrial products company’s stock valued at $2,272,000 after buying an additional 18,293 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Hyster-Yale Materials Handling by 20.2% in the first quarter. Russell Investments Group Ltd. now owns 26,002 shares of the industrial products company’s stock valued at $1,669,000 after buying an additional 4,370 shares in the last quarter. Acadian Asset Management LLC boosted its position in Hyster-Yale Materials Handling by 77.2% in the first quarter. Acadian Asset Management LLC now owns 134,959 shares of the industrial products company’s stock valued at $8,656,000 after buying an additional 58,814 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in Hyster-Yale Materials Handling in the first quarter valued at approximately $27,000. 46.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of 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 research report on Wednesday, November 6th. Northland Capmk lowered shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Roth Mkm cut 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 research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.00.

Hyster-Yale Materials Handling Price Performance

Shares of NYSE:HY opened at $53.28 on Friday. The firm has a market cap of $932.40 million, a PE ratio of 5.97 and a beta of 1.32. The firm’s fifty day moving average is $61.85 and its 200-day moving average is $66.53. 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 $46.25 and a 52 week high of $84.44.

Hyster-Yale Materials Handling (NYSE:HY) last issued its quarterly earnings results 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 business had revenue of $1.02 billion for the quarter, compared to analyst estimates 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 quarter last year, the firm posted $2.06 EPS. Sell-side 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 issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.40 annualized dividend and a yield of 2.63%. Hyster-Yale Materials Handling’s payout ratio is 15.71%.

About Hyster-Yale Materials Handling

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.