Acadian Asset Management LLC Sells 32,635 Shares of Hyster-Yale, Inc. $HY

Key Points

• Acadian Asset Management LLC reduced its stake in Hyster-Yale, Inc. by 16.8%, selling 32,635 shares to hold a total of 161,159 shares valued at $6.7 million.
• Hyster-Yale recently reported a loss of $0.14 earnings per share for the quarter, missing expectations, although revenue was above analyst estimates at $956.6 million.
• The company's quarterly dividend of $0.36 announced for September represents a 4.0% dividend yield, but the payout ratio is notably high at 116.13%.

Acadian Asset Management LLC trimmed its stake in shares of Hyster-Yale, Inc. (NYSE:HY - Free Report) by 16.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 161,159 shares of the industrial products company's stock after selling 32,635 shares during the quarter. Acadian Asset Management LLC owned 0.91% of Hyster-Yale worth $6,688,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Hyster-Yale by 16.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,616 shares of the industrial products company's stock valued at $486,000 after purchasing an additional 1,657 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Hyster-Yale by 52.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 15,843 shares of the industrial products company's stock valued at $658,000 after purchasing an additional 5,425 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings in Hyster-Yale by 133.7% during the first quarter. Bridgeway Capital Management LLC now owns 68,701 shares of the industrial products company's stock valued at $2,854,000 after purchasing an additional 39,302 shares in the last quarter. Truvestments Capital LLC boosted its holdings in Hyster-Yale by 89.4% during 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 in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Hyster-Yale by 18.2% during the fourth quarter. Bank of America Corp DE now owns 44,693 shares of the industrial products company's stock valued at $2,276,000 after purchasing an additional 6,870 shares in the last quarter. 46.47% of the stock is owned by institutional investors and hedge funds.

Hyster-Yale Trading Up 4.6%

Shares of Hyster-Yale stock traded up $1.68 on Thursday, hitting $37.73. 24,493 shares of the company's stock traded hands, compared to its average volume of 74,441. The firm's 50-day moving average price is $38.99 and its two-hundred day moving average price is $40.31. The stock has a market capitalization of $668.49 million, a PE ratio of 30.41 and a beta of 1.53. Hyster-Yale, Inc. has a one year low of $34.13 and a one year high of $69.28. 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 (NYSE:HY - Get Free Report) last issued its 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). 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 for the quarter, compared to the consensus estimate of $936.90 million. On average, research analysts expect that Hyster-Yale, Inc. will post 8.85 EPS for the current fiscal year.

Hyster-Yale Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 29th were given a $0.36 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.8%. Hyster-Yale's dividend payout ratio is currently 116.13%.

Analyst Ratings Changes

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

Hyster-Yale 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.