Hyster-Yale Materials Handling, Inc. (NYSE:HY) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. increased its stake in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 4.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 18,680 shares of the industrial products company’s stock after acquiring an additional 845 shares during the period. Franklin Resources Inc. owned approximately 0.11% of Hyster-Yale Materials Handling worth $1,260,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HY. Barclays PLC lifted its position in shares of Hyster-Yale Materials Handling by 19.0% during the third quarter. Barclays PLC now owns 26,492 shares of the industrial products company’s stock worth $1,690,000 after purchasing an additional 4,226 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Hyster-Yale Materials Handling by 0.7% during the third quarter. Geode Capital Management LLC now owns 255,870 shares of the industrial products company’s stock worth $16,320,000 after acquiring an additional 1,658 shares during the last quarter. Zacks Investment Management grew its stake in Hyster-Yale Materials Handling by 117.9% during the 3rd quarter. Zacks Investment Management now owns 32,063 shares of the industrial products company’s stock valued at $2,045,000 after purchasing an additional 17,347 shares in the last quarter. Pinpoint Asset Management Ltd purchased a new stake in Hyster-Yale Materials Handling during the 3rd quarter worth approximately $32,000. Finally, Centiva Capital LP boosted its stake in shares of Hyster-Yale Materials Handling by 48.1% during the 3rd quarter. Centiva Capital LP now owns 5,434 shares of the industrial products company’s stock valued at $347,000 after buying an additional 1,766 shares during the last quarter. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Trading Down 1.3 %

Hyster-Yale Materials Handling stock opened at $50.17 on Friday. 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 1 year low of $48.73 and a 1 year high of $84.44. The firm’s 50-day moving average is $56.43 and its 200-day moving average is $62.91. The company has a market cap of $878.38 million, a P/E ratio of 5.63 and a beta of 1.25.

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

Hyster-Yale Materials Handling Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.35 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.40 annualized dividend and a yield of 2.79%. Hyster-Yale Materials Handling’s dividend payout ratio is presently 15.71%.

Hyster-Yale Materials Handling announced that its board has approved a stock repurchase plan 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 repurchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HY. StockNews.com cut shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Roth Mkm cut their price objective 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. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.