Impala Asset Management LLC Takes $1.49 Million Position in Hyster-Yale, Inc. $HY

Impala Asset Management LLC bought a new stake in shares of Hyster-Yale, Inc. (NYSE:HY) during the fourth quarter, Holdings Channel reports. The fund bought 50,000 shares of the industrial products company’s stock, valued at approximately $1,486,000. Hyster-Yale makes up approximately 0.9% of Impala Asset Management LLC’s portfolio, making the stock its 18th largest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HY. Amundi lifted its position in shares of Hyster-Yale by 10.1% during the 1st quarter. Amundi now owns 4,844 shares of the industrial products company’s stock valued at $201,000 after buying an additional 444 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Hyster-Yale by 110.6% during the 1st quarter. AQR Capital Management LLC now owns 79,582 shares of the industrial products company’s stock valued at $3,306,000 after buying an additional 41,795 shares in the last quarter. Millennium Management LLC lifted its position in shares of Hyster-Yale by 20.5% during the 1st quarter. Millennium Management LLC now owns 119,560 shares of the industrial products company’s stock valued at $4,967,000 after buying an additional 20,305 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Hyster-Yale by 99.6% during the 1st quarter. Empowered Funds LLC now owns 48,701 shares of the industrial products company’s stock valued at $2,023,000 after buying an additional 24,302 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Hyster-Yale by 19.8% during the 1st quarter. Jane Street Group LLC now owns 35,034 shares of the industrial products company’s stock valued at $1,455,000 after buying an additional 5,802 shares in the last quarter. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Hyster-Yale Stock Up 5.8%

NYSE HY opened at $37.40 on Friday. The business has a fifty day moving average price of $36.05 and a 200 day moving average price of $34.33. Hyster-Yale, Inc. has a one year low of $26.41 and a one year high of $44.55. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.67 and a current ratio of 1.31. The company has a market cap of $670.14 million, a P/E ratio of -6.69 and a beta of 1.61.

Hyster-Yale (NYSE:HY) last posted its quarterly earnings data on Tuesday, May 5th. The industrial products company reported ($1.64) EPS for the quarter, beating the consensus estimate of ($2.02) by $0.38. Hyster-Yale had a negative return on equity of 13.96% and a negative net margin of 2.71%.The firm had revenue of $795.20 million during the quarter, compared to the consensus estimate of $878.10 million. Research analysts anticipate that Hyster-Yale, Inc. will post -2.75 EPS for the current fiscal year.

Hyster-Yale Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Monday, June 1st will be paid a $0.365 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.46 annualized dividend and a yield of 3.9%. This is an increase from Hyster-Yale’s previous quarterly dividend of $0.36. Hyster-Yale’s dividend payout ratio is currently -26.12%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on HY shares. Zacks Research upgraded Hyster-Yale from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Wall Street Zen upgraded Hyster-Yale from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Northland Securities raised Hyster-Yale from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Monday, March 2nd. Finally, Weiss Ratings downgraded Hyster-Yale from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $45.00.

About Hyster-Yale

Hyster-Yale Materials Handling, Inc is a global manufacturer and distributor of a wide range of industrial lift trucks, container handlers and aftermarket parts and services. Operating under the Hyster and Yale brand names, the company designs, engineers and assembles counterbalanced lift trucks, narrow-aisle trucks and specialty vehicles for clients in distribution, manufacturing, retail and warehousing.

The company’s product portfolio includes electric, diesel and LPG-powered forklifts, as well as reach stackers, empty container handlers and terminal tractors.