Truvestments Capital LLC Boosts Stock Position in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Truvestments Capital LLC grew its stake in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 9.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,132 shares of the industrial products company’s stock after acquiring an additional 3,680 shares during the period. Truvestments Capital LLC’s holdings in Hyster-Yale Materials Handling were worth $2,095,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Covestor Ltd lifted its position 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 acquiring an additional 427 shares in the last quarter. Pinpoint Asset Management Ltd purchased a new stake in shares of Hyster-Yale Materials Handling during the third quarter worth $32,000. US Bancorp DE raised its position in shares of Hyster-Yale Materials Handling by 29.1% in the fourth quarter. US Bancorp DE now owns 1,726 shares of the industrial products company’s stock worth $88,000 after buying an additional 389 shares in the last quarter. Quest Partners LLC raised its position in shares of Hyster-Yale Materials Handling by 189.0% in the third quarter. Quest Partners LLC now owns 2,552 shares of the industrial products company’s stock worth $163,000 after buying an additional 1,669 shares in the last quarter. Finally, Amundi raised its position in shares of Hyster-Yale Materials Handling by 111.6% in the fourth quarter. Amundi now owns 4,400 shares of the industrial products company’s stock worth $221,000 after buying an additional 2,321 shares in the last quarter. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Stock Up 0.2 %

Shares of NYSE:HY opened at $45.62 on Wednesday. The stock’s 50-day moving average price is $51.37 and its 200-day moving average price is $56.29. Hyster-Yale Materials Handling, Inc. has a 12-month low of $42.59 and a 12-month high of $84.44. The stock has a market capitalization of $807.35 million, a P/E ratio of 5.12 and a beta of 1.27. The company has a current ratio of 1.36, a quick ratio of 0.61 and a debt-to-equity ratio of 0.46.

Hyster-Yale Materials Handling Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.40 annualized dividend and a dividend yield of 3.07%. Hyster-Yale Materials Handling’s payout ratio is presently 17.37%.

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

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Friday, March 7th.

About Hyster-Yale Materials Handling

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.