Swedbank AB Sells 18,203 Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Swedbank AB decreased its holdings in Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 24.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,708 shares of the industrial products company’s stock after selling 18,203 shares during the period. Swedbank AB owned 0.32% of Hyster-Yale Materials Handling worth $3,552,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in HY. American Century Companies Inc. lifted its holdings in shares of Hyster-Yale Materials Handling by 149.8% in the 2nd quarter. American Century Companies Inc. now owns 151,241 shares of the industrial products company’s stock valued at $10,546,000 after acquiring an additional 90,696 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Hyster-Yale Materials Handling by 63.7% in the 2nd quarter. Acadian Asset Management LLC now owns 220,865 shares of the industrial products company’s stock valued at $15,390,000 after acquiring an additional 85,906 shares during the last quarter. Foundry Partners LLC bought a new position in shares of Hyster-Yale Materials Handling in the 2nd quarter valued at about $5,046,000. SG Americas Securities LLC bought a new position in shares of Hyster-Yale Materials Handling in the 3rd quarter valued at about $2,309,000. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Hyster-Yale Materials Handling in the 3rd quarter valued at about $1,910,000. Institutional investors own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Stock Down 1.2 %

Shares of NYSE HY opened at $56.14 on Thursday. The company has a market cap of $983.01 million, a P/E ratio of 6.30 and a beta of 1.32. The firm has a 50-day simple moving average of $61.28 and a two-hundred day simple moving average of $66.00. Hyster-Yale Materials Handling, Inc. has a 1 year low of $47.05 and a 1 year high of $84.44. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.61.

Hyster-Yale Materials Handling (NYSE:HY) last posted its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.97 by ($1.00). Hyster-Yale Materials Handling had a net margin of 3.68% and a return on equity of 34.77%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the firm posted $2.06 EPS. Research analysts anticipate that Hyster-Yale Materials Handling, Inc. will post 8.85 earnings per share for the current year.

Hyster-Yale Materials Handling announced that its board has authorized a stock buyback plan on Monday, November 18th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the industrial products company to buy up to 5.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Hyster-Yale Materials Handling Dividend Announcement

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

Wall Street Analyst Weigh In

HY has been the subject of several analyst reports. Roth Mkm decreased their price objective on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. StockNews.com downgraded shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Northland Capmk downgraded shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Hyster-Yale Materials Handling has a consensus rating of “Moderate Buy” and an average price target of $80.00.

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.