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, HoldingsChannel.com reports. The institutional investor owned 55,708 shares of the industrial products company’s stock after selling 18,203 shares during the quarter. Swedbank AB’s holdings in Hyster-Yale Materials Handling were worth $3,552,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of HY. American Century Companies Inc. raised its stake in Hyster-Yale Materials Handling by 149.8% in the second quarter. American Century Companies Inc. now owns 151,241 shares of the industrial products company’s stock worth $10,546,000 after buying an additional 90,696 shares in the last quarter. Acadian Asset Management LLC raised its stake in Hyster-Yale Materials Handling by 63.7% in the second quarter. Acadian Asset Management LLC now owns 220,865 shares of the industrial products company’s stock worth $15,390,000 after buying an additional 85,906 shares in the last quarter. Foundry Partners LLC bought a new position in Hyster-Yale Materials Handling in the second quarter worth approximately $5,046,000. SG Americas Securities LLC bought a new position in Hyster-Yale Materials Handling in the third quarter worth approximately $2,309,000. Finally, Segall Bryant & Hamill LLC bought a new position in Hyster-Yale Materials Handling in the third quarter worth approximately $1,910,000. Institutional investors own 46.47% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Hyster-Yale Materials Handling Stock Performance

Shares of HY stock opened at $56.14 on Thursday. The business’s fifty day simple moving average is $61.28 and its 200-day simple moving average is $66.00. The company has a market cap of $983.01 million, a PE ratio of 6.30 and a beta of 1.32. The company has a current ratio of 1.36, a quick ratio of 0.61 and a debt-to-equity ratio of 0.46. Hyster-Yale Materials Handling, Inc. has a 12-month low of $47.05 and a 12-month 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 earnings per share (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 period in the previous year, the company posted $2.06 earnings per share. Analysts expect that Hyster-Yale Materials Handling, Inc. will post 8.85 earnings per share for the current fiscal year.

Hyster-Yale Materials Handling Dividend Announcement

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

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

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.