Insider Buying: Hyster-Yale Materials Handling Inc. (HY) Insider Acquires 8,620 Shares of Stock
Hyster-Yale Materials Handling Inc. (NYSE:HY) insider Clara L. T. Rankin acquired 8,620 shares of the firm’s stock in a transaction dated Thursday, October 6th. The stock was bought at an average price of $61.31 per share, with a total value of $528,492.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of Hyster-Yale Materials Handling Inc. (NYSE:HY) traded down 2.07% during midday trading on Friday, hitting $58.56. The stock had a trading volume of 134,510 shares. Hyster-Yale Materials Handling Inc. has a one year low of $44.41 and a one year high of $70.19. The stock has a 50 day moving average of $53.25 and a 200-day moving average of $60.09. The company has a market cap of $959.56 million, a P/E ratio of 16.98 and a beta of 1.01.
Hyster-Yale Materials Handling (NYSE:HY) last issued its earnings results on Monday, August 8th. The company reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.34. Hyster-Yale Materials Handling had a return on equity of 12.03% and a net margin of 2.21%. The company earned $645.60 million during the quarter, compared to analysts’ expectations of $632.33 million. During the same period in the previous year, the company earned $1.39 EPS. Hyster-Yale Materials Handling’s quarterly revenue was down 2.0% on a year-over-year basis. Analysts forecast that Hyster-Yale Materials Handling Inc. will post $3.04 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Tuesday, August 30th. Hyster-Yale Materials Handling’s dividend payout ratio is currently 34.20%.
Several brokerages have recently issued reports on HY. Sidoti upgraded Hyster-Yale Materials Handling from a “neutral” rating to a “buy” rating in a research note on Friday, September 23rd. Zacks Investment Research lowered Hyster-Yale Materials Handling from a “hold” rating to a “sell” rating in a research report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $69.00.
A number of hedge funds and other institutional investors have recently modified their holdings of HY. Norges Bank acquired a new position in shares of Hyster-Yale Materials Handling during the fourth quarter worth approximately $8,608,000. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Hyster-Yale Materials Handling by 0.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 5,157 shares of the company’s stock worth $343,000 after buying an additional 25 shares in the last quarter. BlackRock Group LTD increased its position in shares of Hyster-Yale Materials Handling by 22.1% in the first quarter. BlackRock Group LTD now owns 12,318 shares of the company’s stock worth $820,000 after buying an additional 2,230 shares in the last quarter. Spark Investment Management LLC increased its position in shares of Hyster-Yale Materials Handling by 190.2% in the first quarter. Spark Investment Management LLC now owns 11,900 shares of the company’s stock worth $792,000 after buying an additional 7,800 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of Hyster-Yale Materials Handling during the first quarter worth approximately $460,000. 70.59% of the stock is owned by hedge funds and other institutional investors.
About Hyster-Yale Materials Handling
Hyster-Yale Materials Handling, Inc, and its subsidiaries, design, engineer, manufacture, sell and service lift trucks and aftermarket parts. The Company markets its lift trucks and aftermarket parts under the Hyster and Yale brand names. The Company also operates through Nuvera Fuel Cells, Inc (Nuvera), which is an alternative-power technology company focused on fuel-cell stacks and related systems.
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