PNC Financial Services Group Inc. Grows Stock Position in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

PNC Financial Services Group Inc. raised its holdings in Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 2.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 23,967 shares of the industrial products company’s stock after acquiring an additional 678 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Hyster-Yale Materials Handling were worth $1,221,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. purchased a new position in shares of Hyster-Yale Materials Handling in the third quarter worth about $582,000. GSA Capital Partners LLP purchased a new position in shares of Hyster-Yale Materials Handling in the third quarter worth about $866,000. Victory Capital Management Inc. purchased a new position in shares of Hyster-Yale Materials Handling in the third quarter worth about $387,000. Quest Partners LLC raised its stake in shares of Hyster-Yale Materials Handling by 189.0% in the third quarter. Quest Partners LLC now owns 2,552 shares of the industrial products company’s stock worth $163,000 after purchasing an additional 1,669 shares during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Hyster-Yale Materials Handling in the third quarter worth about $1,910,000. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

Hyster-Yale Materials Handling Stock Up 3.1 %

Hyster-Yale Materials Handling stock opened at $44.86 on Monday. The firm has a market cap of $793.82 million, a price-to-earnings ratio of 5.03 and a beta of 1.27. Hyster-Yale Materials Handling, Inc. has a 52 week low of $42.59 and a 52 week high of $84.44. The business’s 50-day moving average price is $51.00 and its 200 day moving average price is $55.94. The company has a quick ratio of 0.61, a current ratio of 1.36 and a debt-to-equity ratio of 0.46.

Hyster-Yale Materials Handling announced that its board has approved a stock repurchase program on Monday, November 18th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase 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 shares are undervalued.

Hyster-Yale Materials Handling Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.12%. The ex-dividend date was Friday, February 28th. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is 17.37%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Friday, March 7th.

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.