Mitsubishi UFJ Asset Management Co. Ltd. Buys 16,740 Shares of Hyster-Yale, Inc. $HY

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Hyster-Yale, Inc. (NYSE:HY) by 82.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,137 shares of the industrial products company’s stock after purchasing an additional 16,740 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Hyster-Yale were worth $1,117,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in HY. Amundi increased its holdings in shares of Hyster-Yale by 10.1% in the first quarter. Amundi now owns 4,844 shares of the industrial products company’s stock worth $201,000 after purchasing an additional 444 shares during the last quarter. AQR Capital Management LLC boosted its stake in Hyster-Yale by 110.6% during the first quarter. AQR Capital Management LLC now owns 79,582 shares of the industrial products company’s stock valued at $3,306,000 after buying an additional 41,795 shares during the last quarter. Millennium Management LLC boosted its stake in Hyster-Yale by 20.5% during the first quarter. Millennium Management LLC now owns 119,560 shares of the industrial products company’s stock valued at $4,967,000 after buying an additional 20,305 shares during the last quarter. Empowered Funds LLC grew its holdings in Hyster-Yale by 99.6% during the 1st quarter. Empowered Funds LLC now owns 48,701 shares of the industrial products company’s stock valued at $2,023,000 after buying an additional 24,302 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in Hyster-Yale by 19.8% during the 1st quarter. Jane Street Group LLC now owns 35,034 shares of the industrial products company’s stock valued at $1,455,000 after buying an additional 5,802 shares in the last quarter. Institutional investors own 46.47% of the company’s stock.

Hyster-Yale Trading Down 0.3%

Shares of NYSE HY opened at $36.31 on Wednesday. Hyster-Yale, Inc. has a 1-year low of $26.41 and a 1-year high of $44.55. 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’s 50 day moving average is $35.14 and its two-hundred day moving average is $33.96. The stock has a market capitalization of $649.90 million, a P/E ratio of -6.49 and a beta of 1.66.

Hyster-Yale (NYSE:HY) last posted its quarterly earnings data 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 business had revenue of $795.20 million during 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%. As a group, research analysts expect that Hyster-Yale, Inc. will post -2.75 EPS for the current year.

Hyster-Yale Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Monday, June 1st will be given a $0.365 dividend. This is a boost from Hyster-Yale’s previous quarterly dividend of $0.36. This represents a $1.46 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Monday, June 1st. Hyster-Yale’s dividend payout ratio is -25.76%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HY. Zacks Research raised Hyster-Yale from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Northland Securities raised shares of Hyster-Yale from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a report on Monday, March 2nd. Weiss Ratings cut shares of Hyster-Yale from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen downgraded shares of Hyster-Yale from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $45.00.

Hyster-Yale Profile

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.