Isthmus Partners LLC Sells 10,360 Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Isthmus Partners LLC trimmed its stake in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 18.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 46,946 shares of the industrial products company’s stock after selling 10,360 shares during the quarter. Isthmus Partners LLC owned 0.27% of Hyster-Yale Materials Handling worth $2,994,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. De Lisle Partners LLP increased its stake in Hyster-Yale Materials Handling by 23.4% in the 3rd quarter. De Lisle Partners LLP now owns 40,241 shares of the industrial products company’s stock worth $2,564,000 after acquiring an additional 7,642 shares during the last quarter. FMR LLC boosted its holdings in shares of Hyster-Yale Materials Handling by 31.9% in the 3rd quarter. FMR LLC now owns 51,280 shares of the industrial products company’s stock worth $3,270,000 after purchasing an additional 12,390 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Hyster-Yale Materials Handling by 41.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,280 shares of the industrial products company’s stock valued at $400,000 after acquiring an additional 1,838 shares during the period. Truvestments Capital LLC boosted its holdings in Hyster-Yale Materials Handling by 19.1% during the 3rd quarter. Truvestments Capital LLC now owns 37,452 shares of the industrial products company’s stock valued at $2,388,000 after acquiring an additional 6,002 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Hyster-Yale Materials Handling by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 115,159 shares of the industrial products company’s stock valued at $7,344,000 after acquiring an additional 4,296 shares during the period. 46.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on HY shares. Roth Mkm dropped their target price on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Northland Capmk cut Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, StockNews.com cut Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $80.00.

Hyster-Yale Materials Handling Trading Down 1.1 %

NYSE HY opened at $56.22 on Friday. Hyster-Yale Materials Handling, Inc. has a fifty-two week low of $47.05 and a fifty-two week high of $84.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.61 and a current ratio of 1.36. The stock has a 50 day simple moving average of $61.15 and a two-hundred day simple moving average of $65.93. The stock has a market cap of $984.41 million, a P/E ratio of 6.31 and a beta of 1.32.

Hyster-Yale Materials Handling (NYSE:HY) last released its quarterly earnings data 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 return on equity of 34.77% and a net margin of 3.68%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the business posted $2.06 EPS. On average, analysts forecast that Hyster-Yale Materials Handling, Inc. will post 8.85 earnings per share for the current year.

Hyster-Yale Materials Handling declared that its Board of Directors has initiated a stock repurchase program on Monday, November 18th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the industrial products company to buy up to 5.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Hyster-Yale Materials Handling Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.35 dividend. 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 currently 15.71%.

Hyster-Yale Materials Handling Profile

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.