9,667 Shares in Hyster-Yale Materials Handling, Inc. (NYSE:HY) Acquired by A&I Financial Services LLC

A&I Financial Services LLC purchased a new position in Hyster-Yale Materials Handling, Inc. (NYSE:HY) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,667 shares of the industrial products company’s stock, valued at approximately $492,000. A&I Financial Services LLC owned about 0.06% of Hyster-Yale Materials Handling at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in Hyster-Yale Materials Handling by 27.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,762 shares of the industrial products company’s stock worth $878,000 after buying an additional 2,963 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Hyster-Yale Materials Handling in the third quarter worth $582,000. Covestor Ltd lifted its position in 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 purchasing an additional 427 shares during the period. GSA Capital Partners LLP purchased a new stake in Hyster-Yale Materials Handling in the third quarter valued at $866,000. Finally, Victory Capital Management Inc. acquired a new stake in Hyster-Yale Materials Handling during the 3rd quarter worth about $387,000. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Stock Up 1.3 %

HY opened at $53.92 on Friday. The company has a fifty day moving average of $52.08 and a two-hundred day moving average of $57.16. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.61 and a current ratio of 1.36. Hyster-Yale Materials Handling, Inc. has a fifty-two week low of $48.73 and a fifty-two week high of $84.44. The stock has a market capitalization of $944.07 million, a price-to-earnings ratio of 6.05 and a beta of 1.26.

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 given a dividend of $0.35 per share. 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 announced that its board has approved a share buyback plan on Monday, November 18th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the industrial products company to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Roth Mkm decreased their price objective 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 report on Thursday. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.