First Trust Advisors LP Increases Stake in Hyster-Yale Materials Handling Inc (HY)

First Trust Advisors LP boosted its holdings in Hyster-Yale Materials Handling Inc (NYSE:HY) by 29.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,429 shares of the industrial products company’s stock after acquiring an additional 4,378 shares during the quarter. First Trust Advisors LP owned 0.12% of Hyster-Yale Materials Handling worth $1,248,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of HY. Wells Fargo & Company MN increased its position in Hyster-Yale Materials Handling by 112.3% in the 1st quarter. Wells Fargo & Company MN now owns 29,569 shares of the industrial products company’s stock valued at $2,067,000 after acquiring an additional 15,644 shares during the period. SG Americas Securities LLC acquired a new stake in Hyster-Yale Materials Handling in the 1st quarter valued at approximately $164,000. Trexquant Investment LP acquired a new stake in Hyster-Yale Materials Handling in the 1st quarter valued at approximately $246,000. Schwab Charles Investment Management Inc. increased its position in Hyster-Yale Materials Handling by 7.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 104,976 shares of the industrial products company’s stock valued at $7,341,000 after acquiring an additional 6,850 shares during the period. Finally, Alambic Investment Management L.P. acquired a new stake in Hyster-Yale Materials Handling in the 1st quarter valued at approximately $1,199,000. Hedge funds and other institutional investors own 50.67% of the company’s stock.

In other news, insider Victoire G. Rankin purchased 1,277 shares of the stock in a transaction dated Tuesday, September 4th. The shares were bought at an average cost of $61.27 per share, for a total transaction of $78,241.79. Following the transaction, the insider now owns 4,357 shares in the company, valued at $266,953.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Alfred M. Et Al Rankin purchased 3,143 shares of the stock in a transaction dated Friday, September 7th. The shares were purchased at an average price of $62.34 per share, for a total transaction of $195,934.62. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 8,424 shares of company stock worth $525,374. 26.34% of the stock is owned by insiders.

Several research firms recently commented on HY. TheStreet cut Hyster-Yale Materials Handling from a “b” rating to a “c” rating in a research report on Friday, August 3rd. Zacks Investment Research upgraded Hyster-Yale Materials Handling from a “sell” rating to a “hold” rating in a research report on Thursday, June 28th. Finally, ValuEngine cut Hyster-Yale Materials Handling from a “hold” rating to a “sell” rating in a research report on Friday, June 1st. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Hyster-Yale Materials Handling presently has an average rating of “Hold” and an average price target of $66.00.

HY opened at $65.31 on Monday. Hyster-Yale Materials Handling Inc has a 12 month low of $56.40 and a 12 month high of $93.90. The company has a market capitalization of $1.04 billion, a P/E ratio of 16.09 and a beta of 1.24. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.87 and a current ratio of 1.51.

Hyster-Yale Materials Handling (NYSE:HY) last issued its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.19). Hyster-Yale Materials Handling had a net margin of 1.14% and a return on equity of 8.26%. The firm had revenue of $765.60 million for the quarter, compared to analyst estimates of $797.00 million. During the same quarter last year, the business posted $0.85 earnings per share. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. research analysts expect that Hyster-Yale Materials Handling Inc will post 3.31 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Thursday, August 30th. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is presently 30.54%.

Hyster-Yale Materials Handling Profile

Hyster-Yale Materials Handling, Inc, through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks and aftermarket parts worldwide. The company operates through five segments: the Americas, EMEA, JAPIC, Bolzoni, and Nuvera. It manufactures components, such as frames, masts, and transmissions; and assembles lift trucks.

Further Reading: Price to Earnings Ratio (PE) Basics

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Institutional Ownership by Quarter for Hyster-Yale Materials Handling (NYSE:HY)

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