Hyster-Yale Materials Handling, Inc. (NYSE:HY) Stake Cut by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its holdings in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,018 shares of the industrial products company’s stock after selling 262 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Hyster-Yale Materials Handling were worth $306,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in HY. Meeder Asset Management Inc. raised its stake in shares of Hyster-Yale Materials Handling by 421.8% during the 4th quarter. Meeder Asset Management Inc. now owns 741 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 599 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Hyster-Yale Materials Handling during the 4th quarter worth about $76,000. US Bancorp DE raised its holdings in Hyster-Yale Materials Handling by 29.1% in the 4th quarter. US Bancorp DE now owns 1,726 shares of the industrial products company’s stock valued at $88,000 after acquiring an additional 389 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Hyster-Yale Materials Handling by 164.5% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,468 shares of the industrial products company’s stock valued at $125,000 after purchasing an additional 1,535 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Hyster-Yale Materials Handling by 17.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,018 shares of the industrial products company’s stock valued at $154,000 after buying an additional 448 shares in the last quarter. Institutional investors and hedge funds own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Trading Down 0.2%

HY opened at $42.72 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.61 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $40.71 and a two-hundred day moving average price of $48.64. Hyster-Yale Materials Handling, Inc. has a 1-year low of $34.13 and a 1-year high of $84.44. The stock has a market capitalization of $755.98 million, a PE ratio of 4.79 and a beta of 1.49.

Hyster-Yale Materials Handling (NYSE:HY) last released its earnings results on Tuesday, May 6th. The industrial products company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. Hyster-Yale Materials Handling had a return on equity of 34.77% and a net margin of 3.68%. The company had revenue of $910.40 million during the quarter, compared to the consensus estimate of $947.80 million. As a group, equities analysts anticipate that Hyster-Yale Materials Handling, Inc. will post 8.85 earnings per share for the current fiscal year.

Hyster-Yale Materials Handling Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, May 30th. This is an increase from Hyster-Yale Materials Handling’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a yield of 3.37%. Hyster-Yale Materials Handling’s dividend payout ratio is presently 24.96%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th.

About Hyster-Yale Materials Handling

Hyster-Yale, 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.