Victory Capital Management Inc. Makes New Investment in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Victory Capital Management Inc. purchased a new position in Hyster-Yale Materials Handling, Inc. (NYSE:HY) during the third quarter, HoldingsChannel.com reports. The fund purchased 6,071 shares of the industrial products company’s stock, valued at approximately $387,000.

A number of other large investors have also added to or reduced their stakes in the company. Covestor Ltd boosted its stake in shares of Hyster-Yale Materials Handling by 21,350.0% during the 3rd quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 427 shares in the last quarter. Quest Partners LLC boosted its stake in shares of Hyster-Yale Materials Handling by 6,692.3% during the 2nd quarter. Quest Partners LLC now owns 883 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 870 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Hyster-Yale Materials Handling during the 2nd quarter valued at about $67,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Hyster-Yale Materials Handling by 67.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,356 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 548 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Hyster-Yale Materials Handling during the 2nd quarter valued at about $194,000. Institutional investors own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Trading Up 0.7 %

Shares of NYSE HY opened at $56.24 on Friday. 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 stock has a market cap of $984.76 million, a P/E ratio of 6.31 and a beta of 1.32. Hyster-Yale Materials Handling, Inc. has a 1 year low of $47.05 and a 1 year high of $84.44. The firm has a 50-day moving average of $61.04 and a 200 day moving average of $65.81.

Hyster-Yale Materials Handling (NYSE:HY) last issued its earnings results on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by ($1.00). The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Hyster-Yale Materials Handling had a return on equity of 34.77% and a net margin of 3.68%. During the same period last year, the firm posted $2.06 earnings per share. As a group, sell-side analysts expect that Hyster-Yale Materials Handling, Inc. will post 8.85 EPS for the current fiscal year.

Hyster-Yale Materials Handling Dividend Announcement

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

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Northland Capmk cut shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research report 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 lowered their price target on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $80.00.

Hyster-Yale Materials Handling Company 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.