New York State Teachers Retirement System Invests $61,000 in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

New York State Teachers Retirement System acquired a new position in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 973 shares of the industrial products company’s stock, valued at approximately $61,000.

A number of other large investors have also modified their holdings of HY. Advisor Group Holdings Inc. boosted its stake in Hyster-Yale Materials Handling by 823.5% in the first quarter. Advisor Group Holdings Inc. now owns 785 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 700 shares in the last quarter. Swiss National Bank boosted its stake in Hyster-Yale Materials Handling by 7.6% in the first quarter. Swiss National Bank now owns 16,900 shares of the industrial products company’s stock valued at $561,000 after acquiring an additional 1,200 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Hyster-Yale Materials Handling in the first quarter valued at $418,000. MetLife Investment Management LLC boosted its stake in Hyster-Yale Materials Handling by 53.7% in the first quarter. MetLife Investment Management LLC now owns 5,807 shares of the industrial products company’s stock valued at $193,000 after acquiring an additional 2,030 shares in the last quarter. Finally, Ergoteles LLC acquired a new position in Hyster-Yale Materials Handling in the first quarter valued at $239,000. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Price Performance

Shares of HY opened at $59.82 on Friday. Hyster-Yale Materials Handling, Inc. has a fifty-two week low of $38.50 and a fifty-two week high of $72.40. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 8.25 and a beta of 1.48. The firm has a 50-day simple moving average of $62.79 and a 200-day simple moving average of $56.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 1.22.

Hyster-Yale Materials Handling (NYSE:HY) last announced its earnings results on Tuesday, February 27th. The industrial products company reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.03). The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. Hyster-Yale Materials Handling had a return on equity of 40.35% and a net margin of 3.06%. On average, equities research analysts anticipate that Hyster-Yale Materials Handling, Inc. will post 7.06 earnings per share for the current year.

Hyster-Yale Materials Handling Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.325 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.30 annualized dividend and a yield of 2.17%. Hyster-Yale Materials Handling’s dividend payout ratio is currently 17.93%.

Insider Buying and Selling

In related news, insider Frank F. Taplin sold 11,720 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $58.10, for a total transaction of $680,932.00. Following the completion of the transaction, the insider now directly owns 367,152 shares of the company’s stock, valued at $21,331,531.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Hyster-Yale Materials Handling news, insider Frank F. Taplin sold 11,720 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $58.10, for a total value of $680,932.00. Following the completion of the transaction, the insider now directly owns 367,152 shares of the company’s stock, valued at $21,331,531.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Frank F. Taplin sold 5,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $58.65, for a total transaction of $293,250.00. Following the completion of the transaction, the insider now directly owns 378,872 shares of the company’s stock, valued at $22,220,842.80. The disclosure for this sale can be found here. 33.93% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HY. TheStreet downgraded shares of Hyster-Yale Materials Handling from a “b-” rating to a “c” rating in a research note on Monday, March 4th. StockNews.com downgraded shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 28th.

Hyster-Yale Materials Handling Company Profile

Hyster-Yale Materials Handling, Inc, through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks, attachments, and aftermarket parts worldwide. The company manufactures components, such as frames, masts, and transmissions; and assembles lift trucks. It markets its products primarily under the Hyster and Yale brand names to independent Hyster and Yale retail dealerships.