Pinpoint Asset Management Ltd Invests $32,000 in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Pinpoint Asset Management Ltd bought a new stake in Hyster-Yale Materials Handling, Inc. (NYSE:HY) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 507 shares of the industrial products company’s stock, valued at approximately $32,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Covestor Ltd raised its holdings in shares of Hyster-Yale Materials Handling by 21,350.0% during the 3rd quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock valued at $27,000 after buying an additional 427 shares in the last quarter. Quest Partners LLC raised its stake in shares of Hyster-Yale Materials Handling by 6,692.3% during the second quarter. Quest Partners LLC now owns 883 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 870 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Hyster-Yale Materials Handling in the 2nd quarter worth approximately $67,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Hyster-Yale Materials Handling by 67.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,356 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 548 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Hyster-Yale Materials Handling during the 2nd quarter valued at $194,000. 46.47% of the stock is owned by hedge funds and other institutional investors.

Hyster-Yale Materials Handling Stock Performance

Shares of NYSE:HY opened at $56.31 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 0.61 and a debt-to-equity ratio of 0.46. The company has a market cap of $985.99 million, a price-to-earnings ratio of 6.32 and a beta of 1.25. Hyster-Yale Materials Handling, Inc. has a 12 month low of $48.45 and a 12 month high of $84.44. The company has a 50-day moving average price of $60.84 and a 200-day moving average price of $65.41.

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. As a group, equities analysts anticipate that Hyster-Yale Materials Handling, Inc. will post 8.85 EPS for the current year.

Hyster-Yale Materials Handling Dividend Announcement

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

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

Analyst Ratings Changes

HY has been the subject of several analyst reports. Northland Capmk lowered shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. 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. 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $80.00.

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.