Massachusetts Financial Services Co. MA Invests $231,000 in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Massachusetts Financial Services Co. MA purchased a new stake in Hyster-Yale Materials Handling, Inc. (NYSE:HY) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,617 shares of the industrial products company’s stock, valued at approximately $231,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC boosted its position in shares of Hyster-Yale Materials Handling by 0.5% in the 2nd quarter. CWM LLC now owns 41,992 shares of the industrial products company’s stock worth $2,928,000 after purchasing an additional 192 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Hyster-Yale Materials Handling by 4.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,442 shares of the industrial products company’s stock worth $310,000 after buying an additional 200 shares during the period. Summit Global Investments increased its stake in shares of Hyster-Yale Materials Handling by 2.4% in the 2nd quarter. Summit Global Investments now owns 10,334 shares of the industrial products company’s stock valued at $721,000 after acquiring an additional 240 shares during the last quarter. Mcdonald Partners LLC raised its position in shares of Hyster-Yale Materials Handling by 0.9% in the 2nd quarter. Mcdonald Partners LLC now owns 40,256 shares of the industrial products company’s stock valued at $2,807,000 after acquiring an additional 352 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Hyster-Yale Materials Handling by 0.5% during the 2nd quarter. AQR Capital Management LLC now owns 76,587 shares of the industrial products company’s stock worth $5,340,000 after acquiring an additional 363 shares during the last quarter. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Hyster-Yale Materials Handling Stock Down 1.2 %

Shares of HY stock opened at $56.14 on Thursday. Hyster-Yale Materials Handling, Inc. has a 12-month low of $47.05 and a 12-month high of $84.44. The company has a quick ratio of 0.61, a current ratio of 1.36 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average of $61.28 and a 200-day moving average of $66.00. The company has a market capitalization of $983.01 million, a price-to-earnings ratio of 6.30 and a beta of 1.32.

Hyster-Yale Materials Handling (NYSE:HY) last released its earnings results on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the company posted $2.06 EPS. As a group, equities research analysts predict that Hyster-Yale Materials Handling, Inc. will post 8.85 earnings per share for the current fiscal year.

Hyster-Yale Materials Handling declared that its board has authorized a share repurchase 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 reacquire up to 5.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Hyster-Yale Materials Handling Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Friday, November 29th. Hyster-Yale Materials Handling’s dividend payout ratio is presently 15.71%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HY. Northland Capmk downgraded shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. StockNews.com cut shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Roth Mkm decreased their target price on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.00.

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.