Charles Schwab Investment Management Inc. Lowers Holdings in Hyster-Yale, Inc. $HY

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Hyster-Yale, Inc. by 8.6%, now owning approximately 0.58% of the company worth around $4.3 million.
• Hyster-Yale reported a loss of $0.14 EPS in its recent quarterly earnings, missing expectations of a $0.26 profit, despite revenue exceeding estimates.
• The company declared a quarterly dividend of $0.36, resulting in a 3.7% dividend yield; however, its dividend payout ratio is high at 116.13%.

Charles Schwab Investment Management Inc. trimmed its position in Hyster-Yale, Inc. (NYSE:HY - Free Report) by 8.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,328 shares of the industrial products company's stock after selling 9,684 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.58% of Hyster-Yale worth $4,292,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of Hyster-Yale by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 515,809 shares of the industrial products company's stock worth $26,270,000 after purchasing an additional 5,366 shares during the last quarter. ProShare Advisors LLC increased its stake in Hyster-Yale by 16.0% during the fourth quarter. ProShare Advisors LLC now owns 144,433 shares of the industrial products company's stock worth $7,356,000 after acquiring an additional 19,975 shares during the last quarter. Northern Trust Corp increased its stake in Hyster-Yale by 5.1% during the fourth quarter. Northern Trust Corp now owns 114,787 shares of the industrial products company's stock worth $5,846,000 after acquiring an additional 5,572 shares during the last quarter. Vontobel Holding Ltd. increased its stake in Hyster-Yale by 32.6% during the first quarter. Vontobel Holding Ltd. now owns 107,486 shares of the industrial products company's stock worth $4,465,000 after acquiring an additional 26,414 shares during the last quarter. Finally, Millennium Management LLC increased its stake in Hyster-Yale by 20.8% during the fourth quarter. Millennium Management LLC now owns 99,255 shares of the industrial products company's stock worth $5,055,000 after acquiring an additional 17,120 shares during the last quarter. 46.47% of the stock is owned by institutional investors.

Hyster-Yale Trading Down 1.2%

Shares of NYSE:HY traded down $0.46 during trading hours on Wednesday, hitting $36.35. 126,934 shares of the company's stock traded hands, compared to its average volume of 79,879. Hyster-Yale, Inc. has a 1 year low of $34.13 and a 1 year high of $69.28. The business has a fifty day moving average price of $39.99 and a 200-day moving average price of $41.43. The firm has a market capitalization of $644.03 million, a P/E ratio of 29.31 and a beta of 1.53. 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 announced its earnings results on Tuesday, August 5th. The industrial products company reported ($0.14) earnings per share (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 analysts' expectations of $936.90 million. Equities analysts expect that Hyster-Yale, Inc. will post 8.85 earnings per share for the current year.

Hyster-Yale Announces Dividend

The company 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 $0.36 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.0%. Hyster-Yale's payout ratio is presently 116.13%.

Analysts Set New Price Targets

HY has been the topic of several analyst reports. Wall Street Zen cut Hyster-Yale from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Zacks Research raised Hyster-Yale to a "strong sell" rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently 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.