Acadian Asset Management LLC Has $6.69 Million Stock Holdings in 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 lessened its stake in Hyster-Yale, Inc. (NYSE:HY - Free Report) by 16.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 161,159 shares of the industrial products company's stock after selling 32,635 shares during the period. Acadian Asset Management LLC owned about 0.91% of Hyster-Yale worth $6,688,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Jane Street Group LLC raised its holdings in Hyster-Yale by 19.8% in the 1st quarter. Jane Street Group LLC now owns 35,034 shares of the industrial products company's stock valued at $1,455,000 after acquiring an additional 5,802 shares in the last quarter. Empowered Funds LLC increased its position in shares of Hyster-Yale by 99.6% during the first quarter. Empowered Funds LLC now owns 48,701 shares of the industrial products company's stock valued at $2,023,000 after purchasing an additional 24,302 shares during the period. Dynamic Technology Lab Private Ltd raised its stake in shares of Hyster-Yale by 54.8% in the first quarter. Dynamic Technology Lab Private Ltd now owns 16,512 shares of the industrial products company's stock valued at $686,000 after purchasing an additional 5,844 shares in the last quarter. Millennium Management LLC increased its holdings in Hyster-Yale by 20.5% in the 1st quarter. Millennium Management LLC now owns 119,560 shares of the industrial products company's stock valued at $4,967,000 after buying an additional 20,305 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Hyster-Yale by 15.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,060 shares of the industrial products company's stock valued at $3,661,000 after buying an additional 11,714 shares during the period. Institutional investors own 46.47% of the company's stock.

Hyster-Yale Price Performance

Hyster-Yale stock traded down $0.08 on Tuesday, reaching $35.92. The company's stock had a trading volume of 67,787 shares, compared to its average volume of 74,299. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.65 and a current ratio of 1.40. The company has a market cap of $636.54 million, a price-to-earnings ratio of 28.97 and a beta of 1.53. The business's fifty day moving average price is $39.12 and its 200 day moving average price is $40.34. Hyster-Yale, Inc. has a twelve month low of $34.13 and a twelve month high of $69.28.

Hyster-Yale (NYSE:HY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.40). The business had revenue of $956.60 million during 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%. Equities analysts expect that Hyster-Yale, Inc. will post 8.85 earnings per share for the current fiscal year.

Hyster-Yale Dividend Announcement

The firm also recently disclosed 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 of this dividend is Friday, August 29th. This represents a $1.44 dividend on an annualized basis and a yield of 4.0%. Hyster-Yale's payout ratio is currently 116.13%.

Wall Street Analysts Forecast Growth

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

About Hyster-Yale

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.