Mackenzie Financial Corp Acquires New Holdings in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Mackenzie Financial Corp purchased a new position in Hyster-Yale Materials Handling, Inc. (NYSE:HY) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,744 shares of the industrial products company’s stock, valued at approximately $242,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HY. First Trust Advisors LP purchased a new stake in shares of Hyster-Yale Materials Handling during the 4th quarter worth about $3,265,000. JPMorgan Chase & Co. increased its position in shares of Hyster-Yale Materials Handling by 165.5% in the 4th quarter. JPMorgan Chase & Co. now owns 63,231 shares of the industrial products company’s stock worth $3,220,000 after purchasing an additional 39,415 shares during the last quarter. American Century Companies Inc. boosted its holdings in Hyster-Yale Materials Handling by 15.8% in the fourth quarter. American Century Companies Inc. now owns 274,924 shares of the industrial products company’s stock worth $14,002,000 after purchasing an additional 37,432 shares during the period. Renaissance Technologies LLC raised its position in shares of Hyster-Yale Materials Handling by 76.3% during the 4th quarter. Renaissance Technologies LLC now owns 80,900 shares of the industrial products company’s stock worth $4,120,000 after purchasing an additional 35,000 shares during the period. Finally, Brightline Capital Management LLC bought a new stake in shares of Hyster-Yale Materials Handling during the fourth quarter valued at approximately $1,528,000. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen cut 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 Performance

NYSE HY opened at $40.89 on Friday. The company has a quick ratio of 0.61, a current ratio of 1.36 and a debt-to-equity ratio of 0.46. The company’s 50-day simple moving average is $39.67 and its 200 day simple moving average is $47.22. Hyster-Yale Materials Handling, Inc. has a twelve month low of $34.13 and a twelve month high of $84.44. The stock has a market cap of $724.03 million, a P/E ratio of 4.59 and a beta of 1.51.

Hyster-Yale Materials Handling (NYSE:HY) last issued its earnings results on Tuesday, May 6th. The industrial products company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. Hyster-Yale Materials Handling had a net margin of 3.68% and a return on equity of 34.77%. The company had revenue of $910.40 million during the quarter, compared to analysts’ expectations of $947.80 million. As a group, research analysts forecast 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Friday, May 30th. 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.