Allspring Global Investments Holdings LLC Sells 3,344 Shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 24.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,418 shares of the industrial products company’s stock after selling 3,344 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Hyster-Yale Materials Handling were worth $531,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in HY. Covestor Ltd boosted its stake 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 buying an additional 427 shares during the period. Pinpoint Asset Management Ltd bought a new stake in Hyster-Yale Materials Handling during the third quarter valued at $32,000. Quest Partners LLC boosted its stake in Hyster-Yale Materials Handling by 189.0% during the third quarter. Quest Partners LLC now owns 2,552 shares of the industrial products company’s stock valued at $163,000 after buying an additional 1,669 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Hyster-Yale Materials Handling during the third quarter valued at $231,000. Finally, Centiva Capital LP boosted its stake in Hyster-Yale Materials Handling by 48.1% during the third 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 period. Institutional investors own 46.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HY. StockNews.com lowered Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Roth Mkm dropped their price target 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

Hyster-Yale Materials Handling Trading Down 3.0 %

Shares of HY stock opened at $50.52 on Tuesday. 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 business has a 50-day moving average price of $52.04 and a two-hundred day moving average price of $57.24. Hyster-Yale Materials Handling, Inc. has a 12-month low of $48.73 and a 12-month high of $84.44. The firm has a market cap of $884.66 million, a P/E ratio of 5.67 and a beta of 1.26.

Hyster-Yale Materials Handling Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Friday, February 28th. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is currently 15.71%.

Hyster-Yale Materials Handling announced that its Board of Directors has initiated a stock buyback program on Monday, November 18th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the industrial products company to reacquire up to 5.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.