Mcdonald Partners LLC Trims Position in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Mcdonald Partners LLC reduced its stake in Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 15.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,904 shares of the industrial products company’s stock after selling 7,038 shares during the quarter. Mcdonald Partners LLC owned about 0.23% of Hyster-Yale Materials Handling worth $2,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in HY. Gladius Capital Management LP bought a new position in shares of Hyster-Yale Materials Handling in the fourth quarter worth approximately $40,000. New York State Teachers Retirement System purchased a new stake in shares of Hyster-Yale Materials Handling in the fourth quarter worth $61,000. AJOVista LLC purchased a new stake in shares of Hyster-Yale Materials Handling during the fourth quarter worth about $71,000. SG Americas Securities LLC bought a new stake in shares of Hyster-Yale Materials Handling during the fourth quarter valued at approximately $151,000. Finally, Dumont & Blake Investment Advisors LLC purchased a new position in shares of Hyster-Yale Materials Handling during the fourth quarter valued at about $263,000. 46.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

HY has been the topic of a number of recent research reports. Roth Mkm restated a “buy” rating and set a $87.00 price objective on shares of Hyster-Yale Materials Handling in a research report on Friday, June 7th. StockNews.com downgraded Hyster-Yale Materials Handling from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 28th. Northland Securities upgraded Hyster-Yale Materials Handling from a “market perform” rating to an “outperform” rating and set a $90.00 price objective for the company in a report on Wednesday, June 5th. TheStreet downgraded shares of Hyster-Yale Materials Handling from a “b-” rating to a “c” rating in a research report on Monday, March 4th. Finally, Northland Capmk upgraded Hyster-Yale Materials Handling from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 5th. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Hyster-Yale Materials Handling presently has an average rating of “Buy” and a consensus price target of $88.50.

Hyster-Yale Materials Handling Stock Down 0.6 %

HY traded down $0.41 during trading hours on Wednesday, hitting $69.20. 77,234 shares of the company’s stock were exchanged, compared to its average volume of 102,397. The firm has a 50 day moving average of $69.79 and a 200 day moving average of $65.45. The company has a current ratio of 1.25, a quick ratio of 0.56 and a debt-to-equity ratio of 0.58. Hyster-Yale Materials Handling, Inc. has a 12-month low of $38.50 and a 12-month high of $79.66. The firm has a market cap of $1.21 billion, a P/E ratio of 8.02 and a beta of 1.42.

Hyster-Yale Materials Handling (NYSE:HY) last released its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.14 by $0.79. Hyster-Yale Materials Handling had a return on equity of 42.94% and a net margin of 3.61%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. Analysts predict that Hyster-Yale Materials Handling, Inc. will post 7.68 EPS for the current fiscal year.

Hyster-Yale Materials Handling Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a $0.35 dividend. This is a boost from Hyster-Yale Materials Handling’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, May 31st. This represents a $1.40 annualized dividend and a dividend yield of 2.02%. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is 16.22%.

About Hyster-Yale Materials Handling

Hyster-Yale Materials Handling, 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.