PNC Financial Services Group Inc. Trims Position in Hyster-Yale Materials Handling Inc (HY)
PNC Financial Services Group Inc. cut its stake in Hyster-Yale Materials Handling Inc (NYSE:HY) by 2.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 792,313 shares of the industrial products company’s stock after selling 19,340 shares during the period. PNC Financial Services Group Inc. owned about 4.79% of Hyster-Yale Materials Handling worth $50,907,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Hyster-Yale Materials Handling in the first quarter valued at $164,000. Trexquant Investment LP purchased a new stake in Hyster-Yale Materials Handling in the first quarter valued at $246,000. Barclays PLC lifted its position in Hyster-Yale Materials Handling by 40.5% in the first quarter. Barclays PLC now owns 3,772 shares of the industrial products company’s stock valued at $263,000 after acquiring an additional 1,087 shares during the last quarter. Signature Financial Management Inc. purchased a new stake in Hyster-Yale Materials Handling in the first quarter valued at $272,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Hyster-Yale Materials Handling in the first quarter valued at $287,000. 50.67% of the stock is owned by hedge funds and other institutional investors.
NYSE HY opened at $61.66 on Friday. The company has a current ratio of 1.51, a quick ratio of 0.87 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 15.19 and a beta of 1.10. Hyster-Yale Materials Handling Inc has a one year low of $56.40 and a one year high of $93.90.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be paid a $0.31 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $1.24 dividend on an annualized basis and a yield of 2.01%. Hyster-Yale Materials Handling’s dividend payout ratio is presently 30.54%.
A number of brokerages recently weighed in on HY. TheStreet cut shares of Hyster-Yale Materials Handling from a “b” rating to a “c” rating in a research report on Friday, August 3rd. Zacks Investment Research raised shares of Hyster-Yale Materials Handling from a “sell” rating to a “hold” rating in a research report on Thursday, June 28th. Finally, ValuEngine lowered shares of Hyster-Yale Materials Handling from a “hold” rating to a “sell” rating in a research note on Friday, June 1st. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Hyster-Yale Materials Handling presently has a consensus rating of “Hold” and a consensus target price of $66.00.
In other Hyster-Yale Materials Handling news, insider Theodore D. Taplin sold 1,015 shares of Hyster-Yale Materials Handling stock in a transaction on Friday, June 8th. The shares were sold at an average price of $69.48, for a total value of $70,522.20. Following the transaction, the insider now directly owns 45,002 shares in the company, valued at $3,126,738.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Gregory Breier sold 1,227 shares of Hyster-Yale Materials Handling stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $67.25, for a total transaction of $82,515.75. Following the completion of the transaction, the vice president now owns 7,388 shares in the company, valued at $496,843. The disclosure for this sale can be found here. Insiders own 26.34% of the company’s stock.
About Hyster-Yale Materials Handling
Hyster-Yale Materials Handling, Inc, through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks and aftermarket parts worldwide. The company operates through five segments: the Americas, EMEA, JAPIC, Bolzoni, and Nuvera. It manufactures components, such as frames, masts, and transmissions; and assembles lift trucks.
See Also: Stock Symbol
Want to see what other hedge funds are holding HY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hyster-Yale Materials Handling Inc (NYSE:HY).
Receive News & Ratings for Hyster-Yale Materials Handling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hyster-Yale Materials Handling and related companies with MarketBeat.com's FREE daily email newsletter.