Brightline Capital Management LLC Buys Shares of 30,000 Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Brightline Capital Management LLC acquired a new position in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 30,000 shares of the industrial products company's stock, valued at approximately $1,528,000. Hyster-Yale Materials Handling accounts for about 1.2% of Brightline Capital Management LLC's portfolio, making the stock its 13th biggest position. Brightline Capital Management LLC owned about 0.17% of Hyster-Yale Materials Handling as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of HY. Scotia Capital Inc. raised its stake in shares of Hyster-Yale Materials Handling by 0.7% during the 4th quarter. Scotia Capital Inc. now owns 31,873 shares of the industrial products company's stock worth $1,623,000 after buying an additional 223 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Hyster-Yale Materials Handling in the fourth quarter worth $417,000. Martingale Asset Management L P lifted its holdings in Hyster-Yale Materials Handling by 48.1% in the fourth quarter. Martingale Asset Management L P now owns 15,674 shares of the industrial products company's stock valued at $798,000 after acquiring an additional 5,089 shares during the period. Renaissance Technologies LLC boosted 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 in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Hyster-Yale Materials Handling during the 4th quarter worth $543,000. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

Hyster-Yale Materials Handling Price Performance

HY stock traded up $1.16 during midday trading on Thursday, hitting $39.16. 24,110 shares of the stock were exchanged, compared to its average volume of 85,414. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.61 and a current ratio of 1.36. The stock has a market cap of $693.03 million, a price-to-earnings ratio of 4.38 and a beta of 1.32. Hyster-Yale Materials Handling, Inc. has a fifty-two week low of $34.13 and a fifty-two week high of $84.44. The stock's 50-day moving average price is $45.19 and its 200-day moving average price is $52.67.

Hyster-Yale Materials Handling Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.35 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.40 dividend on an annualized basis and a yield of 3.57%. Hyster-Yale Materials Handling's payout ratio is 17.37%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Hyster-Yale Materials Handling from a "buy" rating to a "hold" rating in a research note on Friday, March 7th.

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.