Nuveen LLC Makes New Investment in Hyster-Yale, Inc. $HY

Key Points

• Nuveen LLC acquired 30,385 shares of Hyster-Yale, Inc., valued at approximately $1.26 million, raising its stake in the company to about 0.17% as of its latest SEC filing.
• Hyster-Yale reported a loss of $0.14 earnings per share for the last quarter, significantly missing analysts' expectations of $0.26, despite revenue of $956.60 million exceeding estimates.
• The company declared a quarterly dividend of $0.36 per share, giving it an annualized dividend yield of 3.8%, though its payout ratio stands at 116.13%.

Nuveen LLC acquired a new stake in shares of Hyster-Yale, Inc. (NYSE:HY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 30,385 shares of the industrial products company's stock, valued at approximately $1,262,000. Nuveen LLC owned about 0.17% of Hyster-Yale as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Hyster-Yale by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 515,809 shares of the industrial products company's stock worth $26,270,000 after buying an additional 5,366 shares during the last quarter. ProShare Advisors LLC boosted its stake in Hyster-Yale by 16.0% in the 4th quarter. ProShare Advisors LLC now owns 144,433 shares of the industrial products company's stock worth $7,356,000 after buying an additional 19,975 shares during the last quarter. Northern Trust Corp boosted its stake in Hyster-Yale by 5.1% in the 4th quarter. Northern Trust Corp now owns 114,787 shares of the industrial products company's stock worth $5,846,000 after buying an additional 5,572 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in Hyster-Yale by 32.6% in the 1st quarter. Vontobel Holding Ltd. now owns 107,486 shares of the industrial products company's stock worth $4,465,000 after buying an additional 26,414 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Hyster-Yale by 20.8% in the 4th quarter. Millennium Management LLC now owns 99,255 shares of the industrial products company's stock worth $5,055,000 after buying an additional 17,120 shares during the last quarter. Institutional investors and hedge funds own 46.47% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on HY shares. Wall Street Zen lowered Hyster-Yale from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Zacks Research raised Hyster-Yale to a "strong sell" rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $70.00.

Hyster-Yale Stock Up 1.4%

Hyster-Yale stock traded up $0.52 during midday trading on Friday, hitting $37.64. 94,910 shares of the company were exchanged, compared to its average volume of 72,014. The company's fifty day moving average price is $39.88 and its 200-day moving average price is $41.21. The company has a market cap of $666.93 million, a PE ratio of 30.35 and a beta of 1.53. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.40 and a quick ratio of 0.65. Hyster-Yale, Inc. has a fifty-two week low of $34.13 and a fifty-two week high of $69.28.

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

Hyster-Yale Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 29th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.44 annualized dividend and a yield of 3.8%. Hyster-Yale's payout ratio is 116.13%.

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.