Bridgeway Capital Management LLC Has $2.85 Million Holdings 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 raised its position in Hyster-Yale, Inc. (NYSE:HY - Free Report) by 133.7% in 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 about 0.39% of Hyster-Yale worth $2,854,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in Hyster-Yale by 110.6% in the 1st quarter. AQR Capital Management LLC now owns 79,582 shares of the industrial products company's stock valued at $3,306,000 after acquiring an additional 41,795 shares in the last quarter. Amundi raised its holdings in Hyster-Yale by 10.1% in the 1st quarter. Amundi now owns 4,844 shares of the industrial products company's stock valued at $201,000 after acquiring an additional 444 shares in the last quarter. PDT Partners LLC acquired a new position in Hyster-Yale in the 1st quarter valued at approximately $803,000. Cubist Systematic Strategies LLC raised its holdings in Hyster-Yale by 20.2% in the 1st quarter. Cubist Systematic Strategies LLC now owns 25,008 shares of the industrial products company's stock valued at $1,039,000 after acquiring an additional 4,195 shares in the last quarter. Finally, Truvestments Capital LLC raised its holdings in Hyster-Yale by 89.4% in the 1st quarter. Truvestments Capital LLC now owns 77,918 shares of the industrial products company's stock valued at $3,237,000 after acquiring an additional 36,786 shares in the last quarter. Institutional investors and hedge funds own 46.47% of the company's stock.

Wall Street Analysts Forecast Growth

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

Hyster-Yale Price Performance

HY stock traded up $0.85 during midday trading on Thursday, reaching $36.82. 34,966 shares of the company's stock traded hands, compared to its average volume of 74,341. The company has a 50-day simple moving average of $39.60 and a two-hundred day simple moving average of $40.86. Hyster-Yale, Inc. has a 1-year low of $34.13 and a 1-year high of $69.28. The company has a market cap of $652.36 million, a price-to-earnings ratio of 29.69 and a beta of 1.53. The company has a quick ratio of 0.65, a current ratio of 1.40 and a debt-to-equity ratio of 0.45.

Hyster-Yale (NYSE:HY - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $936.90 million. On average, analysts anticipate that Hyster-Yale, Inc. will post 8.85 earnings per share for the current year.

Hyster-Yale Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 29th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, August 29th. Hyster-Yale's dividend payout ratio (DPR) is currently 116.13%.

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.