Fisher Asset Management LLC Cuts Stake in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Fisher Asset Management LLC lowered its position in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,589 shares of the industrial products company’s stock after selling 1,636 shares during the period. Fisher Asset Management LLC’s holdings in Hyster-Yale Materials Handling were worth $1,558,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Covestor Ltd increased its stake 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 valued at $27,000 after buying an additional 427 shares during the period. Pinpoint Asset Management Ltd purchased a new position in shares of Hyster-Yale Materials Handling during the third quarter valued at $32,000. Quest Partners LLC increased its stake in shares of Hyster-Yale Materials Handling by 189.0% during the third quarter. Quest Partners LLC now owns 2,552 shares of the industrial products company’s stock valued at $163,000 after buying an additional 1,669 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of Hyster-Yale Materials Handling during the third quarter valued at $231,000. Finally, Hussman Strategic Advisors Inc. purchased a new position in shares of Hyster-Yale Materials Handling during the fourth quarter valued at $321,000. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Price Performance

HY opened at $45.03 on Thursday. The business’s 50-day moving average is $51.81 and its two-hundred day moving average is $56.74. Hyster-Yale Materials Handling, Inc. has a 1 year low of $42.59 and a 1 year high of $84.44. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.61. The firm has a market capitalization of $788.32 million, a PE ratio of 5.05 and a beta of 1.27.

Hyster-Yale Materials Handling Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Friday, February 28th. Hyster-Yale Materials Handling’s dividend payout ratio is presently 17.37%.

Hyster-Yale Materials Handling announced that its Board of Directors has authorized a stock repurchase program on Monday, November 18th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the industrial products company to reacquire up to 5.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Roth Mkm cut their target price on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. StockNews.com upgraded Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th.

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.