A&I Financial Services LLC Takes Position in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

A&I Financial Services LLC purchased a new position in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,667 shares of the industrial products company’s stock, valued at approximately $492,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Covestor Ltd grew its holdings in shares of Hyster-Yale Materials Handling by 21,350.0% during the third quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock worth $27,000 after buying an additional 427 shares in the last quarter. Pinpoint Asset Management Ltd acquired a new position in Hyster-Yale Materials Handling during the third quarter worth about $32,000. Quest Partners LLC grew its stake in Hyster-Yale Materials Handling by 189.0% during the 3rd quarter. Quest Partners LLC now owns 2,552 shares of the industrial products company’s stock valued at $163,000 after acquiring an additional 1,669 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Hyster-Yale Materials Handling in the 3rd quarter valued at about $231,000. Finally, Hussman Strategic Advisors Inc. acquired a new stake in Hyster-Yale Materials Handling in the 4th quarter valued at about $321,000. 46.47% of the stock is owned by hedge funds and other institutional investors.

Hyster-Yale Materials Handling Stock Up 1.3 %

Shares of NYSE HY opened at $53.92 on Friday. Hyster-Yale Materials Handling, Inc. has a 1 year low of $48.73 and a 1 year high of $84.44. The company has a market capitalization of $944.07 million, a P/E ratio of 6.05 and a beta of 1.26. The company has a 50 day simple moving average of $52.08 and a 200-day simple moving average of $57.16. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.40 dividend on an annualized basis and a yield of 2.60%. Hyster-Yale Materials Handling’s dividend payout ratio is currently 15.71%.

Hyster-Yale Materials Handling declared that its board has authorized a share repurchase program on Monday, November 18th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the industrial products company to purchase up to 5.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms recently commented on HY. Roth Mkm cut their price target 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. StockNews.com raised Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus 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.