PDT Partners LLC Acquires Shares of 19,342 Hyster-Yale, Inc. $HY

Key Points

• PDT Partners LLC has acquired 19,342 shares of Hyster-Yale, Inc., valued at approximately $803,000, representing a 0.11% stake in the company.
• Hyster-Yale reported a disappointing earnings result, with an EPS of ($0.14), significantly missing the consensus estimate of $0.26 for the quarter.
• The company announced a quarterly dividend of $0.36 per share, reflecting an annualized yield of 4.0%, but its dividend payout ratio stands at 116.13%.

PDT Partners LLC purchased a new position in Hyster-Yale, Inc. (NYSE:HY - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 19,342 shares of the industrial products company's stock, valued at approximately $803,000. PDT Partners LLC owned 0.11% of Hyster-Yale at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Truvestments Capital LLC increased its holdings in shares of Hyster-Yale by 89.4% in the first quarter. Truvestments Capital LLC now owns 77,918 shares of the industrial products company's stock valued at $3,237,000 after purchasing an additional 36,786 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Hyster-Yale by 148.0% in the first quarter. PNC Financial Services Group Inc. now owns 59,433 shares of the industrial products company's stock valued at $2,469,000 after purchasing an additional 35,466 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Hyster-Yale in the first quarter valued at approximately $1,262,000. Bridgeway Capital Management LLC acquired a new stake in shares of Hyster-Yale in the fourth quarter valued at approximately $1,497,000. Finally, American Century Companies Inc. increased its holdings in shares of Hyster-Yale by 10.1% in the first quarter. American Century Companies Inc. now owns 302,815 shares of the industrial products company's stock valued at $12,579,000 after purchasing an additional 27,891 shares during the last quarter. Institutional investors and hedge funds own 46.47% of the company's stock.

Hyster-Yale Stock Down 2.6%

NYSE:HY traded down $0.99 during midday trading on Tuesday, reaching $36.56. The company had a trading volume of 22,765 shares, compared to its average volume of 74,199. The firm has a market capitalization of $647.84 million, a price-to-earnings ratio of 29.27 and a beta of 1.53. The stock's fifty day simple moving average is $39.83 and its 200-day simple moving average is $40.93. Hyster-Yale, Inc. has a 12-month low of $34.13 and a 12-month high of $69.28. The company has a current ratio of 1.40, a quick ratio of 0.65 and a debt-to-equity ratio of 0.45.

Hyster-Yale (NYSE:HY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.40). Hyster-Yale had a net margin of 0.56% and a return on equity of 9.57%. The business had revenue of $956.60 million during the quarter, compared to analyst estimates of $936.90 million. On average, sell-side analysts anticipate that Hyster-Yale, Inc. will post 8.85 earnings per share for the current fiscal year.

Hyster-Yale Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 29th will be paid a $0.36 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.44 dividend on an annualized basis and a yield of 3.9%. Hyster-Yale's dividend payout ratio (DPR) is currently 116.13%.

Analysts Set New Price Targets

Separately, Zacks Research raised Hyster-Yale to a "strong sell" rating in a research note on Friday, August 8th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $70.00.

Hyster-Yale Company 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.