Bank of New York Mellon Corp Takes Position in Hamilton Beach Brands Holding Company $HBB

Key Points

• Bank of New York Mellon acquired 92,468 shares of Hamilton Beach Brands, valued at approximately $2.13 million and representing a 0.68% stake. Institutional investors collectively own 50.55% of the company.
• Hamilton Beach reported quarterly earnings of $2.49 per share, surpassing the $0.16 analyst consensus, while revenue totaled $142.63 million.
• The company declared a quarterly dividend of $0.125 per share, equivalent to an annualized $0.50 payout and a 1.6% yield. Analysts maintain a generally positive outlook, with the stock carrying an average “Buy” rating.

Bank of New York Mellon Corp acquired a new position in Hamilton Beach Brands Holding Company (NYSE:HBB - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 92,468 shares of the company's stock, valued at approximately $2,130,000. Bank of New York Mellon Corp owned 0.68% of Hamilton Beach Brands as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. First Trust Advisors LP grew its holdings in Hamilton Beach Brands by 4.0% during the 2nd quarter. First Trust Advisors LP now owns 18,898 shares of the company's stock valued at $338,000 after buying an additional 729 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Hamilton Beach Brands by 14.1% during the 4th quarter. Deutsche Bank AG now owns 5,945 shares of the company's stock valued at $98,000 after acquiring an additional 733 shares during the last quarter. Osaic Holdings Inc. boosted its position in shares of Hamilton Beach Brands by 15.1% during the 2nd quarter. Osaic Holdings Inc. now owns 5,766 shares of the company's stock valued at $103,000 after acquiring an additional 757 shares during the last quarter. Barclays PLC grew its holdings in shares of Hamilton Beach Brands by 4.3% in the fourth quarter. Barclays PLC now owns 19,930 shares of the company's stock valued at $328,000 after purchasing an additional 830 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Hamilton Beach Brands by 1.2% in the fourth quarter. State Street Corp now owns 130,005 shares of the company's stock valued at $2,139,000 after purchasing an additional 1,557 shares in the last quarter. Hedge funds and other institutional investors own 50.55% of the company's stock.

Insider Buying and Selling

In other Hamilton Beach Brands news, CFO Sarah M. Cunningham sold 3,000 shares of the business's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $32.50, for a total value of $97,500.00. Following the completion of the transaction, the chief financial officer directly owned 39,430 shares in the company, valued at approximately $1,281,475. The trade was a 7.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 38.98% of the company's stock.

Hamilton Beach Brands Price Performance

HBB opened at $30.88 on Tuesday. The business has a fifty day moving average of $26.95 and a 200 day moving average of $21.94. The stock has a market cap of $415.03 million, a P/E ratio of 7.27 and a beta of 0.29. The company has a quick ratio of 2.04, a current ratio of 3.13 and a debt-to-equity ratio of 0.23. Hamilton Beach Brands Holding Company has a 52-week low of $13.56 and a 52-week high of $34.26.

Hamilton Beach Brands (NYSE:HBB - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $2.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $2.33. The business had revenue of $142.63 million for the quarter, compared to analyst estimates of $142.63 million. Hamilton Beach Brands had a return on equity of 30.70% and a net margin of 9.41%.

Hamilton Beach Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, September 1st. Hamilton Beach Brands's payout ratio is 11.76%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Hamilton Beach Brands from a "hold (c)" rating to a "buy (b-)" rating in a report on Wednesday, August 19th. Wall Street Zen upgraded Hamilton Beach Brands from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Hamilton Beach Brands currently has an average rating of "Buy".

About Hamilton Beach Brands

Hamilton Beach Brands Holding Company is a designer, marketer and distributor of branded small kitchen and household appliances. The company's product portfolio spans a range of countertop and electric appliances, including blenders, mixers, toasters, coffeemakers, slow cookers, air fryers, and specialty beverage machines. Through the Hamilton Beach and Proctor-Silex brands, the company serves both everyday consumers and commercial foodservice operators.

Established in 1910, Hamilton Beach has introduced a number of innovations in small-appliance technology, from early electric drink mixers to modern immersion blenders and multi-function cookers.

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