Bridgeway Capital Management LLC Has $2.85 Million Position in Hyster-Yale, Inc. $HY

Key Points

• Bridgeway Capital Management LLC increased its position in Hyster-Yale, Inc. by 133.7% in Q1, now owning 68,701 shares valued at $2.85 million.
• Hyster-Yale declared a quarterly dividend of $0.36 per share, representing a 3.8% dividend yield and a payout ratio of 116.13%.
• Zacks Research downgraded Hyster-Yale to a "strong sell" rating, while the company's current market consensus rating remains at "Hold" with a target price of $70.00.

Bridgeway Capital Management LLC grew its stake in shares of Hyster-Yale, Inc. (NYSE:HY - Free Report) by 133.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,701 shares of the industrial products company's stock after acquiring an additional 39,302 shares during the period. Bridgeway Capital Management LLC owned 0.39% of Hyster-Yale worth $2,854,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC boosted its position in Hyster-Yale by 110.6% during the first quarter. AQR Capital Management LLC now owns 79,582 shares of the industrial products company's stock valued at $3,306,000 after purchasing an additional 41,795 shares during the last quarter. Truvestments Capital LLC lifted its holdings in shares of Hyster-Yale by 89.4% during the 1st quarter. Truvestments Capital LLC now owns 77,918 shares of the industrial products company's stock valued at $3,237,000 after buying an additional 36,786 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Hyster-Yale by 148.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 59,433 shares of the industrial products company's stock valued at $2,469,000 after buying an additional 35,466 shares during the last quarter. Nuveen LLC bought a new stake in shares of Hyster-Yale in the 1st quarter valued at approximately $1,262,000. Finally, American Century Companies Inc. increased its holdings in 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 worth $12,579,000 after buying an additional 27,891 shares during the last quarter. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

Hyster-Yale Stock Performance

HY traded down $1.11 during midday trading on Friday, reaching $35.86. The company's stock had a trading volume of 58,776 shares, compared to its average volume of 74,599. The company has a current ratio of 1.40, a quick ratio of 0.65 and a debt-to-equity ratio of 0.45. The company has a fifty day simple moving average of $39.35 and a 200 day simple moving average of $40.66. The stock has a market cap of $635.44 million, a P/E ratio of 28.92 and a beta of 1.53. 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) earnings per share 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 during the quarter, compared to the consensus estimate of $936.90 million. Research analysts expect that Hyster-Yale, Inc. will post 8.85 earnings per share for the current year.

Hyster-Yale Announces Dividend

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 dividend of $0.36 per share. The ex-dividend date 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 Analyst Weigh In

Separately, Zacks Research raised shares of Hyster-Yale to a "strong sell" rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average 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.