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 company’s stock in a transaction on Thursday, October 6th. The shares were purchased at an average cost of $61.31 per share, with a total value of $528,492.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Hyster-Yale Materials Handling Inc. (NYSE:HY) traded down 2.07% during mid-day trading on Friday, hitting $58.56. 134,510 shares of the stock were exchanged. Hyster-Yale Materials Handling Inc. has a 12 month low of $44.41 and a 12 month high of $70.19. The company has a 50-day moving average price of $53.25 and a 200-day moving average price of $60.09. The stock has a market cap of $959.56 million, a price-to-earnings ratio of 16.98 and a beta of 1.01.
Hyster-Yale Materials Handling (NYSE:HY) last announced its earnings results on Monday, August 8th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by $0.34. Hyster-Yale Materials Handling had a net margin of 2.21% and a return on equity of 12.03%. The business had revenue of $645.60 million for the quarter, compared to analysts’ expectations of $632.33 million. During the same quarter last year, the business earned $1.39 EPS. The company’s quarterly revenue was down 2.0% on a year-over-year basis. Equities analysts expect that Hyster-Yale Materials Handling Inc. will post $3.04 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Tuesday, August 30th. Hyster-Yale Materials Handling’s dividend payout ratio is currently 34.20%.
A number of hedge funds and other institutional investors have recently bought and sold shares of HY. Bank of Montreal Can purchased a new position in Hyster-Yale Materials Handling during the second quarter valued at approximately $133,000. Acadian Asset Management LLC increased its position in Hyster-Yale Materials Handling by 77.4% in the second quarter. Acadian Asset Management LLC now owns 3,002 shares of the company’s stock valued at $179,000 after buying an additional 1,310 shares in the last quarter. Foundry Partners LLC purchased a new position in Hyster-Yale Materials Handling during the second quarter valued at approximately $4,931,000. Fisher Asset Management LLC increased its position in Hyster-Yale Materials Handling by 2.6% in the second quarter. Fisher Asset Management LLC now owns 70,169 shares of the company’s stock valued at $4,330,000 after buying an additional 1,780 shares in the last quarter. Finally, Barclays PLC increased its position in Hyster-Yale Materials Handling by 345.7% in the first quarter. Barclays PLC now owns 4,787 shares of the company’s stock valued at $316,000 after buying an additional 3,713 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.
Several research firms have commented on HY. Sidoti raised 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 raised shares of Hyster-Yale Materials Handling from a “sell” rating to a “hold” rating in a research note on Thursday, June 23rd. One 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. Hyster-Yale Materials Handling has an average rating of “Hold” and an average price target of $69.00.
Hyster-Yale Materials Handling Company Profile
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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