Allspring Global Investments Holdings LLC Raises Holdings in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Allspring Global Investments Holdings LLC raised its holdings in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 520.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,667 shares of the industrial products company’s stock after purchasing an additional 5,593 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Hyster-Yale Materials Handling were worth $415,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of HY. New York State Teachers Retirement System purchased a new position in Hyster-Yale Materials Handling during the fourth quarter valued at $61,000. SG Americas Securities LLC purchased a new position in Hyster-Yale Materials Handling during the fourth quarter valued at $151,000. Bailard Inc. purchased a new position in Hyster-Yale Materials Handling during the third quarter valued at $227,000. Dumont & Blake Investment Advisors LLC purchased a new position in Hyster-Yale Materials Handling during the fourth quarter valued at $263,000. Finally, NBC Securities Inc. purchased a new position in Hyster-Yale Materials Handling during the third quarter valued at $334,000. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

Hyster-Yale Materials Handling Price Performance

NYSE:HY opened at $58.74 on Friday. The company has a quick ratio of 0.55, a current ratio of 1.22 and a debt-to-equity ratio of 0.62. The business’s 50-day simple moving average is $61.80 and its two-hundred day simple moving average is $57.34. The stock has a market cap of $1.03 billion, a PE ratio of 8.10 and a beta of 1.48. Hyster-Yale Materials Handling, Inc. has a 52 week low of $38.50 and a 52 week high of $72.40.

Hyster-Yale Materials Handling (NYSE:HY) last posted its quarterly earnings results on Tuesday, February 27th. The industrial products company reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). Hyster-Yale Materials Handling had a net margin of 3.06% and a return on equity of 40.35%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. As a group, analysts forecast that Hyster-Yale Materials Handling, Inc. will post 7.06 EPS for the current fiscal year.

Hyster-Yale Materials Handling Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.325 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.30 annualized dividend and a dividend yield of 2.21%. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is 17.93%.

Insider Transactions at Hyster-Yale Materials Handling

In other news, insider Frank F. Taplin sold 5,000 shares of Hyster-Yale Materials Handling stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.65, for a total value of $293,250.00. Following the sale, the insider now directly owns 378,872 shares of the company’s stock, valued at $22,220,842.80. The sale was disclosed in a legal 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 business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $58.10, for a total transaction of $680,932.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Frank F. Taplin sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $58.65, for a total value of $293,250.00. Following the sale, the insider now directly owns 378,872 shares in the company, valued at $22,220,842.80. The disclosure for this sale can be found here. Insiders own 33.93% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. TheStreet downgraded Hyster-Yale Materials Handling from a “b-” rating to a “c” rating in a research report on Monday, March 4th. StockNews.com cut Hyster-Yale Materials Handling from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 28th.

About Hyster-Yale Materials Handling

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.