Federated Hermes Inc. Sells 36,297 Shares of Hyster-Yale, Inc. (NYSE:HY)

Key Points

• Federated Hermes Inc. reduced its stake in Hyster-Yale, Inc. by 25.8% in Q1, now holding 104,630 shares, valued at $4.35 million.
• Hyster-Yale's stock price experienced a 2.4% increase, reaching $41.22, with a market capitalization of $729.92 million.
• The company recently announced a quarterly dividend increase to $0.36 per share, representing a yield of 3.5%.

Federated Hermes Inc. decreased its position in shares of Hyster-Yale, Inc. (NYSE:HY - Free Report) by 25.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 104,630 shares of the industrial products company's stock after selling 36,297 shares during the quarter. Federated Hermes Inc. owned approximately 0.59% of Hyster-Yale worth $4,346,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. First Trust Advisors LP bought a new stake in Hyster-Yale in the fourth quarter worth $3,265,000. JPMorgan Chase & Co. lifted its stake in shares of Hyster-Yale by 165.5% during the 4th quarter. JPMorgan Chase & Co. now owns 63,231 shares of the industrial products company's stock worth $3,220,000 after acquiring an additional 39,415 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Hyster-Yale by 76.3% during the 4th quarter. Renaissance Technologies LLC now owns 80,900 shares of the industrial products company's stock valued at $4,120,000 after purchasing an additional 35,000 shares during the last quarter. Brightline Capital Management LLC purchased a new stake in shares of Hyster-Yale in the fourth quarter worth about $1,528,000. Finally, Bridgeway Capital Management LLC purchased a new position in shares of Hyster-Yale in the fourth quarter valued at approximately $1,497,000. Hedge funds and other institutional investors own 46.47% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Hyster-Yale from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th.

Hyster-Yale Price Performance

Shares of HY traded up $0.03 during trading hours on Thursday, reaching $37.01. 70,603 shares of the company traded hands, compared to its average volume of 73,788. The stock has a fifty day simple moving average of $41.07 and a 200 day simple moving average of $43.57. The company has a quick ratio of 0.65, a current ratio of 1.38 and a debt-to-equity ratio of 0.47. Hyster-Yale, Inc. has a fifty-two week low of $34.13 and a fifty-two week high of $69.28. The stock has a market capitalization of $655.36 million, a PE ratio of 29.82 and a beta of 1.53.

Hyster-Yale (NYSE:HY - Get Free Report) last issued its earnings results on Tuesday, August 5th. The industrial products company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.40). Hyster-Yale had a return on equity of 9.76% and a net margin of 0.56%. The firm had revenue of $956.60 million during the quarter, compared to analyst estimates of $936.90 million. As a group, research analysts predict that Hyster-Yale, Inc. will post 8.85 EPS for the current fiscal year.

Hyster-Yale Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.44 annualized dividend and a dividend yield of 3.9%. This is a boost from Hyster-Yale's previous quarterly dividend of $0.35. Hyster-Yale's payout ratio is presently 116.13%.

Hyster-Yale Company 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.