Insider Buying: Hyster-Yale Materials Handling Inc. (HY) Insider Buys 14,252 Shares of Stock
Hyster-Yale Materials Handling Inc. (NYSE:HY) insider Clara L. T. Rankin acquired 14,252 shares of the firm’s stock in a transaction on Friday, September 30th. The shares were acquired at an average price of $59.40 per share, with a total value of $846,568.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Hyster-Yale Materials Handling Inc. (NYSE:HY) opened at 60.40 on Tuesday. The company has a 50 day moving average of $52.62 and a 200 day moving average of $60.13. Hyster-Yale Materials Handling Inc. has a 1-year low of $44.41 and a 1-year high of $70.19. The firm has a market capitalization of $989.71 million, a PE ratio of 17.52 and a beta of 1.00.
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. The firm earned $645.60 million during the quarter, compared to analyst estimates of $632.33 million. Hyster-Yale Materials Handling had a net margin of 2.21% and a return on equity of 12.03%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the business earned $1.39 EPS. Analysts forecast that Hyster-Yale Materials Handling Inc. will post $3.04 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a $0.295 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $1.18 annualized dividend and a yield of 1.95%. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is 34.20%.
Several analysts have commented on the stock. Sidoti upgraded shares of Hyster-Yale Materials Handling from a “neutral” rating to a “buy” rating in a research note on Friday, September 23rd. Zacks Investment Research upgraded shares of Hyster-Yale Materials Handling from a “sell” rating to a “hold” rating in a research note on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $69.00.
A number of hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Hyster-Yale Materials Handling during the fourth quarter valued at $8,608,000. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Hyster-Yale Materials Handling by 19.9% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 561,620 shares of the company’s stock valued at $33,411,000 after buying an additional 93,026 shares during the period. Foundry Partners LLC purchased a new stake in shares of Hyster-Yale Materials Handling during the second quarter valued at $4,931,000. Emerald Acquisition Ltd. purchased a new stake in shares of Hyster-Yale Materials Handling during the second quarter valued at $3,072,000. Finally, Spark Investment Management LLC boosted its stake in shares of Hyster-Yale Materials Handling by 316.8% in the second quarter. Spark Investment Management LLC now owns 49,600 shares of the company’s stock valued at $2,950,000 after buying an additional 37,700 shares during the period. 70.59% of the stock is currently 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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