24,399 Shares in Hyster-Yale Materials Handling, Inc. (NYSE:HY) Purchased by Empowered Funds LLC

Empowered Funds LLC bought a new position in Hyster-Yale Materials Handling, Inc. (NYSE:HY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 24,399 shares of the industrial products company’s stock, valued at approximately $1,243,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HY. Covestor Ltd lifted its holdings in shares of Hyster-Yale Materials Handling by 21,350.0% in the 3rd quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 427 shares during the last quarter. Pinpoint Asset Management Ltd acquired a new stake in Hyster-Yale Materials Handling in the third quarter worth $32,000. Franklin Resources Inc. lifted its stake in Hyster-Yale Materials Handling by 4.7% in the third quarter. Franklin Resources Inc. now owns 18,680 shares of the industrial products company’s stock valued at $1,260,000 after buying an additional 845 shares during the last quarter. Foundry Partners LLC boosted its holdings in shares of Hyster-Yale Materials Handling by 1.6% during the third quarter. Foundry Partners LLC now owns 73,525 shares of the industrial products company’s stock valued at $4,689,000 after acquiring an additional 1,162 shares during the period. Finally, Geode Capital Management LLC grew 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. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Hyster-Yale Materials Handling Price Performance

Shares of HY opened at $52.81 on Monday. The firm has a market capitalization of $924.60 million, a price-to-earnings ratio of 5.93 and a beta of 1.26. The stock’s fifty day moving average is $52.28 and its 200-day moving average is $57.91. Hyster-Yale Materials Handling, Inc. has a one year low of $48.73 and a one year high of $84.44. 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 declared that its board has initiated a stock repurchase plan on Monday, November 18th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Hyster-Yale Materials Handling Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, February 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.65%. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is 15.71%.

Analyst Ratings Changes

Several brokerages recently weighed in on HY. StockNews.com downgraded shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Roth Mkm cut their price target on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $80.00.

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.