Bank of America Corp DE Has $2.28 Million Holdings in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Bank of America Corp DE grew its position in Hyster-Yale Materials Handling, Inc. (NYSE:HY) by 18.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,693 shares of the industrial products company’s stock after purchasing an additional 6,870 shares during the period. Bank of America Corp DE owned about 0.26% of Hyster-Yale Materials Handling worth $2,276,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Meeder Asset Management Inc. increased its position in Hyster-Yale Materials Handling by 421.8% in 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 during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Hyster-Yale Materials Handling in the 4th quarter valued at approximately $76,000. US Bancorp DE raised its stake in shares of 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 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,468 shares of the industrial products company’s stock valued at $125,000 after acquiring 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 acquiring an additional 448 shares in the last quarter. 46.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th.

Hyster-Yale Materials Handling Stock Down 1.8%

Shares of HY stock opened at $39.42 on Tuesday. The stock’s 50 day simple moving average is $39.76 and its 200 day simple moving average is $47.41. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.61 and a current ratio of 1.36. Hyster-Yale Materials Handling, Inc. has a twelve month low of $34.13 and a twelve month high of $84.44. The company has a market capitalization of $698.12 million, a price-to-earnings ratio of 4.42 and a beta of 1.49.

Hyster-Yale Materials Handling (NYSE:HY) last issued its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The business had revenue of $910.40 million for the quarter, compared to the consensus estimate of $947.80 million. Hyster-Yale Materials Handling had a return on equity of 34.77% and a net margin of 3.68%. As a group, research analysts predict that Hyster-Yale Materials Handling, Inc. will post 8.85 EPS for the current 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 issued a $0.36 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.44 dividend on an annualized basis and a yield of 3.65%. This is a positive change from Hyster-Yale Materials Handling’s previous quarterly dividend of $0.35. Hyster-Yale Materials Handling’s dividend payout ratio (DPR) is 25.67%.

Hyster-Yale Materials Handling Profile

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.